Courtesy of : FeedThePig.org
No matter what the markets are doing, the end of the year is always a good time to assess your retirement plan. To ensure you don't miss out on retirement planning opportunities, review this year-end checklist and complete as many items as you can by December 31, 2008.
Update Your Beneficiary
Beneficiary designations are a guarantee that any benefits payable on your behalf after your death will be made to the individual of your choosing and in the manner you wish. To be certain that only your intended beneficiary does, in fact, receive your benefits in the event of your death, make sure to update your electronic beneficiary designation.
Increase Your Contribution Rate
The end of the year is a great time to increase your contribution rate – even by a small amount! Putting away a small percentage of your earnings now gives you a head start on your retirement savings.
2009 IRS Maximum Contributions
You can contribute up to $16,500 before taxes are deducted and an additional $5,500 catch up contribution if you will be age 50 or older in 2009.
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Fidelity 401k
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