Maximize Savings Efforts

These simple steps may help you sock away more for retirement!

Maximize Contributions—You might want to consider maximizing your contributions to your 401(k) or other employer-sponsored retirement plan at this point. Since many employers will match a percentage of what you contribute, it's only to your benefit to take advantage of this opportunity!

Open and Contribute to an IRA—If you don't already have one and are eligible, you should consider establishing an individual retirement account (IRA). In 2013 and 2014 you can contribute up to $5,500, plus a $1,000 annual catch-up contribution for individuals age 50 and over.

Traditional IRAs allow contributions and earnings to compound tax-deferred; you pay no taxes on your investment earnings until money is withdrawn. (Withdrawals of principal may be fully or partially tax-free too.)

With a Roth IRA, withdrawals of principal and earnings may be federally tax-free1 and, in many cases, free of state income tax. Traditional and Roth IRAs have different tax benefits. Find out which IRA is right for you.

By setting up an automatic investment plan,2 you can automatically contribute to your IRA each month, hassle-free. It's fast and easy with our Asset Builder program. You'll never have to remember to make a contribution again!

1 Distributions of earnings are tax-free if the Roth IRA has been open for at least five years and distributions are taken for one of the following circumstances: attainment of age 59½, death, disability or a first-time home purchase (subject to a lifetime limitation of $10,000).

2 These plans do not assume a profit or protect against losses in a declining market.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice, or for use to avoid penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.

RPW0005.028.0314 March 2014

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