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 12, 2014

    Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased. Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account. http://ow.ly/sj972

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