How to Use Age Based Funds in a 401(k) Plan

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Age-based funds, also known as target-date funds, can provide less sophisticated 401(k) participants with a means of preparing for retirement that fits their risk tolerance and investment objectives. The following steps will explain how these funds work and how to properly use them.

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Additional information on How to Use Age Based Funds in a 401(k) Plan :

- To discourage the use of 401k plan funds for any reason other than . from the account before age 59 1/2 may not only be subject to income taxes based on an .

- Aug 18, 2009 . Age -based funds are normally set up as mutual funds. . However, there has been a surge of popularity of their use in the 529 plans as well.

- Jan 2, 1970 . 401k Retirement Age 55. 401k plans allow for penalty-free withdrawals at age 55. To use this 401k retirement age 55 provision you must: .

- 401 (k) are defined contribution plans with annual contributions limited, currently. . Any withdrawal that is permitted before the age of 59½ is subject to an excise tax . The amount of distributions is based on life expectancy according to the . in which prospective business owners use their 401k retirement funds to pay for .

- Should I use my 401 (k) to fund my childs college education? . Your 401 (k) plan should be dedicated primarily to your retirement. . owe the 10 percent premature distribution penalty on withdrawals you make before age 59½, . you should seek advice based on your particular circumstances from an independent advisor .

- Jan 17, 2012 . Target-date funds. which allocate investments based on the savers age. have also proven inadequate, McCool says. Its a cookie-cutter, .

- Oct 30, 2012 . To make your 401 (k) plan work, youve had to become an expert on markets, . In a typical plan. your employer essentially hands you a list of funds and says . in a 401 (k) plan. based on his or her age. savings, and income goals. (You can use one of these programs only if your employer makes it an option.) .

- 1 Here we use the term 401 (k) plans to refer broadly to private-sector defined contribution plans . age -based equity glide path inherent in target-date funds .

Related links about How to Use Age Based Funds in a 401(k) Plan :

1. Using Age -Based Funds In Your 401 (k)

2. A new type of 401 (k) — CNN Money

3. Target-Date Funds in 401 (k) Retirement Plans — Business .

4. Secrets of the 401k millionaires — 1 — retirement planning — MSN Money

5. 401k Retirement Age — At What Age Can You Withdraw Funds From .

Learn how to properly allocate 401(k) funds in this easy-to-read guide. This is a great place to start learning more about the 401(k) and where the funds should be allocated. It’s really easy to ensure 401(k) funds are properly allocated once the process is begun, but where to start? How to Properly Allocate 401(k) funds.

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