Foundations of Finance

Years ago in a business and marketing class, we were strongly encouraged to map out our future as we considered establishing a lifelong investment plan with a professional advisor who would see us through the mass of economic information and ultimately guide us to financial success.  He explained that by simply adding 20 dollars a month from age 16 until our senior years, we could easily possess a portfolio worth up to 6 figures.  I have pondered the idea of a mutual fund since then and looking back I can only regret not taking him up on his advice and opening a mutual fund. 

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The 401 k plan allows the common worker begin savings investments for retirement without having to pay income taxes on that. Through your employer you can choose to defer ( allocate a portion ) money to varying mutual funds, stocks and bonds,  even their own companies stock. Usually companies allow their workers to re-allocate funds at any time. Ask your employer what options they provide so that you’re able to substancialize the best 401 k plan for your family!