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!

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.

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.

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!