3. Choose a retirement plan carefully.
1When choosing a retirement plan, make sure that
the plan structure and features align with your
retirement goals.
IRA
Up to $6,500 in 2016
401k
Up to $24,000 in 2016
Solo 401k
Up to $59,000 in 2016
Contribution Limits
4. 2 Always get a 401k match
Fund your 401k at least to the point
where you bag the maximum matching
dollars.
Every employer uses a different
contribution method but a 6% match is
quite common.
5. It’s wise to increase your contributions
in proportion with the inflation.
Use bonuses and pay raises towards
maximizing your contributions.
3 Increase contributions as you age
6. Catch-up
contributions of up to
$1,000 in 2016
Traditional IRA 401k Plan
Don’t miss catch-up contributions
4
Catch-up
contributions of up to
$6,000 in 2016
7. Don’t go with the default savings rate
5When joining a new position, make sure to
increase your 401k savings rate from the default
3%.
Aim for 10% savings and revise your annual
savings rate accordingly.
“Save your money. You’re going to need twice as
much money in your old age as you think.”
~ Michael Caine
8. Add diversification to your retirement
savings with a Roth 401k.
Make post-tax contributions and enjoy
tax-free withdrawals during retirements*.
6 Choose a Roth 401k for after-tax
contributions
* Provided you satisfy certain IRS regulations
9. Gain investment freedom with self-
directed retirement plan
• Real estate
• Mortgage Notes
• Tax liens/tax deeds
• Private equity
• Private lending
Choose alternative assets
with a self-directed retirement
plan.
7
10. Find out the qualified
distribution age for different
retirement plans.
Know more about the IRS
penalties
Make sure to take required
minimum distributions to
avoid IRS penalties
8
11. I recommend Solo 401k with Sense
Financial to everyone I talk to. The
returns I have made in 6 months
beat what I made for the past 3 years
in my company 401k plan! If you
have the opportunity to switch to a
Solo plan, take advantage of it NOW!
Renee A.
Westerville, OH
“ “