Business Week 7월 16일자에 실린 기사중에 필요한 기사라고 생각해서 이 곳에 올려둔다.
In Your 20s
TIGHTEN UP ON SPENDING, RATCHET UP SAVINGS. Establish good money-management habits now, and they'll serve you well for decades. A personal-finance program such as Quicken makes it easier and will help you make good choices.
PUT SAVINGS ON AUTOPILOT. Having savings directly debited from your bank account or paychecks prevents extra cash from disappearing.
LIVE BENEATH YOUR MEANS. That Bimmer might look awfully tempting, but a Toyota will get you to wherever you want to go just as well, and the difference can go into savings.
START AN "ESCAPE FUND." Most individual retirement account and 401(k) dollars are not available until age 59 1/2, at least not without penalties. If you want to retire sooner, you'll need to build an escape fund with taxable dollars. Equities give you the most bang for the buck over long periods.
REVEL IN THE ROTH. With a Roth IRA, you don't get a tax break on the contributions, but the withdrawals are tax-free. And there's more flexibility getting the money out.
WATCH THE FEES. Those 1.4% expense ratios on mutual funds will add up to a bundle over 30 years. Low-cost index funds, some of which charge less than 0.20% a year, are a better bet.
In Your 30s
CONCENTRATE ON YOUR CAREER. If you're going to shoot for the big bucks, start doing it now. Want your own business? Set it up right away. You'll build more equity and then have something to sell in 20 years.
IF YOU'RE GOING TO HAVE A FAMILY, THERE'S NO TIME LIKE THE PRESENT. You'll spend $500,000 on each child before they turn 25, so you'll want to be sure to have them off your payroll when you are ready to retire.
SET GOALS. Calculate monthly savings amounts for each individual goal, such as college tuition for the kids and your rainy-day account.
STASH YOUR CASH. Direct as much money as possible into retirement accounts for the tax benefits, and continue to beef up your escape fund.
INSURANCE RX. Take advantage of a high-deductible plan if one is available. This is an excellent way to cut insurance premiums, gain tax breaks, and build a health-care fund for your retirement.
In Your 40s
FEED YOUR ESCAPE FUND. When a fixed payment stops, such as day care or a car loan, put that money into retirement savings. You won't miss it.
MONITOR YOUR INVESTMENTS. Your 401(k) account should be performing at least as well as the asset allocaton or target-date funds in your plan. If not, make a switch.
REFINE YOUR RETIREMENT PLAN. Plan to withdraw no more than 4% to 6% of your funds each year. Be realistic. You will need more money than you think, probably close to 100% of your final pay.
VACATE YOUR VACATION HOME. Find the place where you want to retire, purchase your dream home, and rent it out. If you visit regularly to check up on your property, the travel may be partially tax-deductible.
GET TO WORK. Set up a home office and start working out of it so you are used to the routine. If you have plans to do volunteering in retirement, start serving on a board of directors or work with nonprofits. You may want to talk to a career counselor to help define your goals.
In Your 50s
REVIEW YOUR REAL ESTATE. Consider whether you will stay or sell your primary residence. Should you decide to sell, invest in the improvements needed to make it marketable.
STAY WITH STOCKS. Even though you're getting ready to retire, your money isn't. Keep your portfolio focused on equities. That's the best way to make it last.
DO A BENEFITS CHECK. Look at your company's retirement policies to make sure you qualify for early retirement and if you're entitled to medical benefits. Talk to Social Security about how much you will be able to collect and when.
CUT THE CORD. Don't get into a co-dependent financial relationship with your kids, providing cash gifts or downpayments for homes.
DEVISE A TAX STRATEGY. There's an art to taking money out of tax-deferred accounts. You might find opportunities to convert a traditional IRA to a Roth IRA, which can ultimately save you a lot of money. Get thee to a good tax adviser.
20, 30, 40, 50대에 고려해야 할 경제적 사항(Business Week)
Business Week 7월 16일자에 실린 기사중에 필요한 기사라고 생각해서 이 곳에 올려둔다.
In Your 20s
TIGHTEN UP ON SPENDING, RATCHET UP SAVINGS. Establish good money-management habits now, and they'll serve you well for decades. A personal-finance program such as Quicken makes it easier and will help you make good choices.
PUT SAVINGS ON AUTOPILOT. Having savings directly debited from your bank account or paychecks prevents extra cash from disappearing.
LIVE BENEATH YOUR MEANS. That Bimmer might look awfully tempting, but a Toyota will get you to wherever you want to go just as well, and the difference can go into savings.
START AN "ESCAPE FUND." Most individual retirement account and 401(k) dollars are not available until age 59 1/2, at least not without penalties. If you want to retire sooner, you'll need to build an escape fund with taxable dollars. Equities give you the most bang for the buck over long periods.
REVEL IN THE ROTH. With a Roth IRA, you don't get a tax break on the contributions, but the withdrawals are tax-free. And there's more flexibility getting the money out.
WATCH THE FEES. Those 1.4% expense ratios on mutual funds will add up to a bundle over 30 years. Low-cost index funds, some of which charge less than 0.20% a year, are a better bet.
In Your 30s
CONCENTRATE ON YOUR CAREER. If you're going to shoot for the big bucks, start doing it now. Want your own business? Set it up right away. You'll build more equity and then have something to sell in 20 years.
IF YOU'RE GOING TO HAVE A FAMILY, THERE'S NO TIME LIKE THE PRESENT. You'll spend $500,000 on each child before they turn 25, so you'll want to be sure to have them off your payroll when you are ready to retire.
SET GOALS. Calculate monthly savings amounts for each individual goal, such as college tuition for the kids and your rainy-day account.
STASH YOUR CASH. Direct as much money as possible into retirement accounts for the tax benefits, and continue to beef up your escape fund.
INSURANCE RX. Take advantage of a high-deductible plan if one is available. This is an excellent way to cut insurance premiums, gain tax breaks, and build a health-care fund for your retirement.
In Your 40s
FEED YOUR ESCAPE FUND. When a fixed payment stops, such as day care or a car loan, put that money into retirement savings. You won't miss it.
MONITOR YOUR INVESTMENTS. Your 401(k) account should be performing at least as well as the asset allocaton or target-date funds in your plan. If not, make a switch.
REFINE YOUR RETIREMENT PLAN. Plan to withdraw no more than 4% to 6% of your funds each year. Be realistic. You will need more money than you think, probably close to 100% of your final pay.
VACATE YOUR VACATION HOME. Find the place where you want to retire, purchase your dream home, and rent it out. If you visit regularly to check up on your property, the travel may be partially tax-deductible.
GET TO WORK. Set up a home office and start working out of it so you are used to the routine. If you have plans to do volunteering in retirement, start serving on a board of directors or work with nonprofits. You may want to talk to a career counselor to help define your goals.
In Your 50s
REVIEW YOUR REAL ESTATE. Consider whether you will stay or sell your primary residence. Should you decide to sell, invest in the improvements needed to make it marketable.
STAY WITH STOCKS. Even though you're getting ready to retire, your money isn't. Keep your portfolio focused on equities. That's the best way to make it last.
DO A BENEFITS CHECK. Look at your company's retirement policies to make sure you qualify for early retirement and if you're entitled to medical benefits. Talk to Social Security about how much you will be able to collect and when.
CUT THE CORD. Don't get into a co-dependent financial relationship with your kids, providing cash gifts or downpayments for homes.
DEVISE A TAX STRATEGY. There's an art to taking money out of tax-deferred accounts. You might find opportunities to convert a traditional IRA to a Roth IRA, which can ultimately save you a lot of money. Get thee to a good tax adviser.
BusinessWeek July&16,2007