Max out your 401(k)!

The end of the year is fast approaching, and of you are on a bi weekly payroll, then you likely only have 4 payroll checks left. How can you keep more of them? By giving them up of course! If you are covered by an employer sponsored retirement plan, many employers will allow you to make a one time deposit to your account. Depending whether you are covered by a Simple IRA, 401(k), or another type of plan there are limits to your total contributions but an extra deposit can go a long way to juice up your retirement savings. Most employers offer a match on some percentage of your contributions, so at the very least take advantage of the free money your employer is offering.

You have until April 15, 2005 to contribute to your personal IRA account, but you have to act now to get the benefits of your company sponsored retirement plan.