People get to sock away
a lot of money, tax-free, and use it to pay for medical care under a catastrophic health insurance policy.
Outside jumbos, one new product enables buyers to sock away
all or part of a down payment on a home in investment vehicles such as variable and fixed annuities, and in life insurance policies.
While we don't get a 'do-over' in terms of past savings behavior, the good news is, it's never too late to start and make a plan to sock away
just a little bit more," said Dan Houston, executive vice president, Retirement and Investor Services, The Principal(R).
Live below your means, and you'll be able to sock away
money for retirement, too.
Just as you allocate dollars to pay your bills your lifestyle, regularly sock away
a potion of your income for savings and investments.
We'll do whatever we can to sock away
enough bread to be able to once in a while take three months and go back to the theater,'' says Carradine.
Age-weighted plans that enable older employees to sock away
more than younger employees also are increasingly popular.
He doesn't cite any figures, but he probably calculated that he just needed to sock away
a couple of hundred thousand, recharge his batteries, and return to public service.
Bottom line: You can actually afford to sock away
$120 per month at a cost of less than $100.
You probably know to sock away
money for retirement.
He estimates that between his Roth IRA, 401(k), and SEP, he'll sock away
$30,000 this year, adding to the $26,000 he's already saved for retirement.
I'll be given all of seven years to sock away
4 percent of my annual wage income into a low-risk, low-return ``personal account,'' while the government keeps taking my full contribution every year until that account is established in 2009.