For starters, if you contribute to your 401 (k) plan at work, or a 403(b) plan if you work in the private sector or with a nonprofit, when you contribute to these employer-sponsored retirement savings plans, what you are effectively doing is reducing your taxable income. You save money for retirement but you also often get matching contributions from your employer.
So I do not care how mean or unfair your boss might be. Even if he doesn't like you personally and would never think to give you a raise, if your company has a 401 (k) or 403(b) plan in which you're eligible to participate, there's nothing that tyrannical boss can do to stop you from contributing to that retirement plan and getting some money from the company in the form of a corporate match. That is free money on the table from your employer.
If you have a 401 (k) plan at work or a 403(b) plan and you are not contributing, you are literally leaving dollars on the table. If you are getting a dollar-for-dollar match, that is a 100 percent return on your money guaranteed. You definitely cannot get that in the stock market or from any investment, so take advantage of it when it's offered.
For 2007, 2008, and 2009, the contribution limits for your 401 (k) are $15,000, $15,500, and $16,000, respectively. Generally speaking, employers let you put up to 15 percent of your pay into a 401 (k). If you are over 50, there is a so-called catch-up provision in the law that allows you to sock away another $5,000 dollars (an amount that rises to $5,500 in 2009).
So assume you make $50,000 annually and you put 10 percent of your pay, or $5,000, into your 401 (k). If you employer matches even 50 cents on the dollar, they will put in half of your contribution, or $2,500 bucks.
Article Title : How to Find or Create Extra Money, Part 5
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Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.
Our Select 2/Graduated Payments repayment option allows for interest-only payments for the first 2 years of repayment. In the third year, payments increase to level installments of principal and interest payments for the remaining term of the loan.