In an informal poll at work the other day I discovered that over a quarter of my coworkers don’t contribute to our companies’ 401k plan. We work in retail so we make low salaries compared to some people and that is the main reason that they gave: they can’t afford to contribute towards retirement. I understand this way of thinking because I used to think it, too.
Money is like a liquid — it will fill up any space you give it. That is why any pay raise you get seems to quickly disappear. In other words, it doesn’t feel like you make any more money than before the raise.
I didn’t want to get preachy with my coworkers, after all, they are just trying to get by. I did say to the ones without a 401k that they could ask me questions about it anytime. During my survey I realized that the rollover feature of the 401k plan is misunderstood. Misconceptions about 401k plans abound. One lady I spoke with has three 401k accounts because a 401k rollover seemed “too complicated.” The 401k rollovers feature of the plan sounds complex but it is not. It is assuredly worth the few minutes it will take to execute the rollover. You have a 401k plan. Rollover the whole amount to the plan at your new job. Done. With most plans, it is a single page form that authorizes moving funds from one account to another.
The money will stay in the 401k rollover account for a short time before landing in its new home. What makes a rollover such a good idea is that you can have all of your money working towards retirement. Imagine watering a tree using a half cup measuring cup. That is what you are doing if you have more than one 401k account. You can certainly use the job transition as an opportunity to fund a separate retirement account. People often do a 401k rollover to IRA account. This can be a financially smart mover because the rollover does not count towards the maximum amount allowed for IRA contributions in a year.
Making a move like a 401k rollover/IRA requires that you have your head around the basic concept of spending less than you make. Once you fund an IRA, you’ll want to make regular contributions to it. One idea is to put any bonuses you make during the year into the IRA.
Are you looking for a way to save money on groceries, but lack the time to get involved in heavy coupon shopping? The truth of the matter is that coupon shopping is the best way to save a small fortune on nearly everything you buy. Before you stop reading, consider the fact that you can reduce your grocery expenses by a whopping 70% or more if you use supermarket coupons on a regular basis. You also need not take hours to get a result as spectacular as this, only mere minutes as you prepare to go grocery shopping every week.
How are savings as high as this possible with so little effort? By using the new coupon distribution technologies to your full advantage, each and every time you shop. You may not have heard, but there are now faster savings options available to help you spend less time clipping and sorting grocery coupons as you shop. Here are some great money savers which all take very little time:
Printable grocery coupons are fast money savers. With printable grocery coupons all you need to do is visually scan for the items you wish to purchase, print the coupons you will use and go shopping as usual. You only spend time printing and clipping what you will actually use so there is a huge time savings with using printable coupon offers. If you think you will not save very much on groceries using cents-off offers, think again. Take a look at the most recent printable Betty Crocker coupon offers this month and you will see a savings opportunity of over $20.00 without ever using a double or triple coupon. Shop in a store offering double savings and that is $40 without much time or effort.
Electronic grocery coupons are another money saver. E-grocery coupons are even faster to use. You register your store savings card, select the coupons you will use and then get your savings when you swipe your store card at the register. Nothing is faster or easier and you absolutely can not forget your coupons at home.
Saving is faster and easier than ever before. Don’t miss out on the quickest and easiest way to save ever on food!
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