Pre tax benefits & deductions

Making the most of retirement opportunities in the workplace is one of the best methods for ensuring that you set aside enough to fund a comfortable retirement.

These plans allow savers to automate savings through direct deposit, gradually increase contributions over time, and rebalance investments to account for risk tolerance. In many instances, employers provide a percentage match as incentive to contribute as much as possible to one’s retirement future.

If you’ve followed America Saves’ discussion about retirement savings, these topics aren’t altogether new. But what happens to your paycheck when you’ve put your retirement plan in action? What are the perks of pre tax benefits, specifically? Sometimes these benefits can be tough to understand, but with a little extra clarity, you can make the most of your benefits and save money.

Check out the video below from BetterMoneyHabits.com and get the know-how you need to make the most of your pre-tax deductions.

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Tip of the Day

  • Written by Administrator2 | January 14, 2014

    To minimize interest charges, limit credit card purchases to those you can pay off in full at the end of the month. In the end you'll have more for emergency savings. http://ow.ly/FJyVP

Saver Stories View all »

The Gift of Homeownership

Written by Tammy G. Bruzon | August 5, 2015

Quaneka Willis, a single mother of three children, was receiving rental assistance through the Housing Authority of the City of Milwaukee when she decided to take control of her finances. So, in September of 2013 she attended the Make Your Money Talk program and pledged as a Wisconsin Saver. In less than 12 months, she had maximized her savings and was beginning the process of purchasing her first home.

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Starting Over

Written by Katie Bryan | October 28, 2013

Until last summer, Michael Lindman spent money freely. “I was a union truck driver for 35 years and had a good income,” said Lindman. “I owned my own home, saved a little, and tried to live within my own budget. You always think there’s going to be that much coming in, but things can change in a split second.”

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Transforming “I Can’t Save” to “I Will Save”

Written by Guest Blogger | January 13, 2016

You will not believe what it took to completely change my life. About three years ago, the HR Administrator of the corporation where I worked (as a temp with no benefits) forwarded an email to me. Fifteen seconds. One small act of kindness. That's it - that's all it took!

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