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Remember the new individual
tax schedules will be reducing your withholding tax and your take home
paycheck will increase. Consider
diverting that extra cash into your plan for more savings at retirement!
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If you are a participant in
a plan at work, review your situation in November or December and be prepared
to make election changes on your contributions to the plan effective January
1, 2002.
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If you don’t have a plan at
work, fund your IRA as much as you can next year. Consider setting up a monthly savings
program where funds are taken out of your checking account automatically.
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Also, go tell your employer
you want a plan at work. 401k plans
generally have matching contributions from the employer which give your
savings an added boot!
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