Welcome to The Times in Plain English   Click to listen highlighted text! Welcome to The Times in Plain English

Tips for managing personal finances

April 5, 2011
Plain English Version

The 401 (k) plans of most workers are worth less than they were a year ago. Review this checklist to help you make decisions about the future.

1. If you are just starting to save for retirement, invest a certain amount every month.

2. If your employer matches your contribution, make the highest payment the employer will match.

3. Invest for the long term. Diversify your portfolio between stocks, bonds and low risk investments.

4. Invest in your retirement plan through good times and bad times.

5. Try to save enough money to last for six months of no income.

6. Part-time employment is a good way to lower withdrawals from your retirement savings.

7. Can you turn your 401(k) or other savings such as IRAs or CDs to steady income? Annuities give a steady income. Learn about them.

8. As you near retirement, think about future costs. Develop a list including food, shelter and other basic needs. Make a separate list of things you want, such as vacations and activities.

Two things to help you with your future plans: Try this new calculator: http://www.principal.com/retirement/ind/recovery/index.htm?WT.mc(underscore)idmemainbuild

The National Association of Personal Financial Advisors offers tips for selecting one and offers other tips at: http://www.napfa.org/tips(underscore)tools/index.asp


Print Friendly

Leave a Reply

Your email address will not be published. Required fields are marked *

In Brief

Sitting, Standing, Moving: The Road to Health 

At some jobs, you stand all day. At some other jobs, you are sitting at a desk. Whether standing or sitting, eight hours of...

Protecting the Unborn and Newborn From Asthma

The number of people with asthma is growing. About 300 million people worldwide have it. About 26 million people in America have it. Only...

Too Many Antibiotics Can Make Children Heavier

Children who use a lot of antibiotics gain more weight than others. The weight they gain may stay with them into adulthood.

A study of...

Enemy of the Day: Sugar

The U.S. government is saying how much sugar we should consume. They suggest that only 10 percent of the average person’s calories should come...


  • dictionary
  • English Dictionary

Double click on any word on the page or type a word:

Powered by DictionaryBox.com
Click to listen highlighted text!