West Chester Accountant: Tax Preparer, West Chester PA Accounting Services - The Varrenti Company




  1. Save As Much As You Can As Early As You Can.
    Though it's never too late to start, the sooner you begin saving, the more time your money has to grow. Gains each year build on the prior year's -- that's the power of compounding, and the best way to accumulate wealth.

  2. Set Realistic Goals.
    Project your retirement expenses based on your needs, not rules of thumb. Be honest about how you want to live in retirement and how much it will cost. Then calculate how much you must save to supplement Social Security and other sources of retirement income.

  3. A 401(k) Is One Of The Easiest Ways To Save For Retirement.
    Contributing money to a 401(k) gives you an immediate tax deduction, tax-deferred growth on your savings, and -- usually -- a matching contribution from your company.

  4. Making Tax-Efficient Withdrawals Can Stretch The Life Of Your Nest Egg.
    Once you're retired, your assets can last several more years if you draw on money from taxable accounts first and let tax-advantaged accounts compound for as long as possible.

  5. Working Part-Time In Retirement Can Help In More Ways Than One.
    Working keeps you socially engaged and reduces the amount of your nest egg you must withdraw annually once you retire.

  6. There Are Other Creative Ways To Get More Mileage Out Of Retirement Assets.
    You might consider relocating to an area with lower living expenses, or transforming the equity in your home into income by taking out a reverse mortgage.

 
Login   Search   Site Map   Privacy Policy   Disclaimer