Find the means to your dreams
Planning new adventures on far horizons? Looking forward to time with family and friends? Whatever your dreams for retirement, we have the tools and expertise to help get you there. Your retirement plan is a great place to start. Here are seven tips to help you chart the path to your retirement dreams.
- Participate in my employer's retirement plan
Participating in your plan is the first step to saving for retirement. If you're going to live the life you choose in retirement, you have to start now. Remember, the earlier you start, the longer you'll have to build toward your retirement.
- Take advantage of any plan match
If your company has a match and you're not contributing the full amount it matches, you're missing out on money your employer wants to add to your retirement savings.
- Save enough
You save on current taxes with every pretax dollar you put into the plan. So if you're not contributing as much as you can, you're passing up potential retirement savings and current tax savings.
- Be a long-term investor
When choosing your investments, consider how soon you'll need the money. It's one of many things involved in choosing the right risk level for your investments. If you invest too aggressively or too conservatively, you may not achieve your retirement goals.
- Diversify within stocks
Do you have a mix of stock investments in your retirement savings? Choosing more than one type of stock or stock mutual fund may help even out the effects of market swings.
- Avoid frequent trades
No one can predict the market's next change. Moving your money too often can keep you from earning the long-term benefits of your strategy.
- Let investments grow
Early withdrawals are sure-fire ways to derail your retirement goals. They take money out of your account, so you lose the benefits of compounding.
If you are not doing the above things, you have an opportunity to improve your future picture. You can take action today that can help you build a more comfortable retirement.
Recordkeeping and administrative services for the plan are provided by J.P. Morgan Retirement Plan Services.This material is provided for informational and educational purposes only. It is not intended to provide personalized tax, lending, ERISA, legal or investment advice. A professional should be sought for all such matters. Nothing in the Education Section of the web site should be construed as a solicitation of an offer to buy or sell any security. While sources of information are believed to be reliable, JPMorgan Retirement Plan Services does not warrant or guarantee the information. Where assumptions have been made, they are hypothetical in nature and not representative any particular security. Past performance is not a guarantee of future results and investing in securities involves risk, including the possible loss of principal.
In October 1878, the Edison Electric Light Company was formed to raise funds for Thomas A. Edison's experiments and patents. Edison Electric named Drexel, Morgan & Co. as its banker. Drexel, Morgan would eventually become JPMorgan & Co. Drexel, Morgan's Wall Street office was the first to be lit by the electric current. Edison himself turned on the lights.