Sentences with phrase «other workplace savings»

It makes good sense to contribute to your 401 (k) or other workplace savings account — or an IRA if you don't have a plan at work.

Eligible assets include those from IRAs (traditional, rollover, SEP, and SIMPLE), and 401 (k) or other workplace savings plans with former employers.

Not exact matches

However, one survey found that about half of retirees said they retired earlier than planned due to health problems, changes at their workplace, or other factors, suggesting that many workers may be overestimating their future retirement income and savings.

By automatically transferring a percentage of your paycheck into savings before you can get your hands on it, 401ks and other workplace plans increase the odds that the money will actually be saved rather than spent.

While 15 % may seem like a lot, if you have a 401 (k) or other workplace retirement account with an employer match or profit sharing, that employer match or profit sharing counts toward your annual savings rate.

«Consider an annual savings goal of at least 15 % or more (including any employer match), including 401 (k) and other workplace plans, IRAs, and other savings,» says Steven Feinschreiber, senior vice president of Financial Solutions Group at Fidelity.

For example, when Vanguard looked at what it called «cornerstone accounts» — workplace savings plans, IRAs, brokerage and mutual fund accounts — it esttimated that retirees spent only 60 % of the money they withdrew, reinvesting the remaining 40 % in other accounts.

One more note about your savings rate: If you contribute to a 401 (k) or other workplace plan and your employer matches a portion of what you save, those employer matching funds should count toward your savings target.

However, one survey found that about half of retirees said they retired earlier than planned due to health problems, changes at their workplace, or other factors, suggesting that many workers may be overestimating their future retirement income and savings.

Fidelity research from the 2008 crash found that investors who stayed the course and continued contributions in workplace savings saw a â $ œ29.3 % leap in their average account balances for the 18 months through March 2010 thanks to market gains, contributions and other plan activity.