Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.




Money Matters
by Wendell Whitman
Edward Jones

Going To Work For Yourself? Plan Ahead!

Are you thinking of joining the growing ranks of the self-employed? Make sure you’re financially prepared.
Ideally, you would want to have a couple of years’ worth of living expenses saved before you go solo. But that’s a pretty tall order. Nonetheless, save as much as you possibly can. If you’re leaving a job that provided you with a 401(k), try to avoid cashing out your plan. You’ll face early withdrawal penalties if you are younger than 59-1/2, and income taxes, too. Try other sources of “start-up” income.

Once you do make the jump to self-employment, you’ll want to set up your own retirement plan, such as a SEP IRA or an “Owner-only” 401(k).

Your career as an entrepreneur can be rewarding - and you’ll enjoy it even more if you make the right financial moves.

Consider Benefits Before Changing Jobs

If you are thinking of switching jobs - especially in mid-to-Iate career - you’ll want to pay careful attention to the benefits offered by your new employer. At this stage of your life, you’ve got a lot to consider.

Take a close look at your new employer’s retirement plan. If your new job comes with a 401(k), find out when you’ll be eligible to contribute, if there’s an employer match and if the match also applies to “catch­up” contributions you can make after age 50.

You’ll also want to look at your new employer’s other key benefits, including disability insurance and life insurance. Both can be valuable additions to your benefits package.

Before you move to a new job, take a close look at the benefits package - it can playa big role in your comprehensive financial strategy.

Contact Wendell at Edward Jones www.edwardjones.com.




Boulder City Magazine®
P.O. Box 61901
Boulder City, Nevada 89006
Phone (702) 294-1392 Fax (702) 294-1392
E-mail: info@bouldercitymagazine.com



Web Site Design by Appleby Arts
Copyright © 2004, 2005, 2006, 2007 - Boulder City Magazine - All Rights Reserved
E-mail Web Master at: webmaster@bouldercitymagazine.com

Disclaimer