🔎3 Blind Spots in Your 401(k) Plan Your Advisor Didn’t Tell You - Palma Financial

Are you getting the most out of your 401(k) plan? If not, you’re not alone. Many people DO NOT take advantage of valuable benefits that could help them save money and increase their retirement savings.

Here are 3 plus blind spots your advisor might not have told you about:

1️⃣ Claim Matching Contributions as a Business Expenditure. Did you know you can save your company money on taxes by claiming matching contribution costs as a business expenditure? Not only will you save money, but you’ll also increase your retirement savings. 💰

2️⃣ Contributions Made by the Employer Might Not Always Be Included in the Employee’s Gross Income. Your advisor might not have told you that contributions made by your employer might not always be included in your gross income. It means you could miss significant tax savings and retirement benefits. 💡

3️⃣ Employers Benefit Financially from Offering a 401(k) Plan. Offering a 401(k) plan benefits your employer financially. It makes finding and keeping top talent easier and saves money on taxes. Don’t miss out on these valuable benefits! 🌟

Don’t let your advisor’s omission of these key benefits keep you from maximizing your 401(k) plan. Book your 401(k) tax-free assessment today to learn how to unlock the full potential of your plan and start saving more for retirement. 💼💰

But wait, there’s more! Here are three additional blind spots that you should be aware of:

4️⃣ Take Advantage of Catch-Up Contributions. If you’re 50 or older, you can make additional catch-up contributions to your 401(k) plan. These contributions can help you save more money for retirement and catch up on any past contributions you may have missed. 💪

5️⃣ Diversify Your Portfolio. Your advisor may have recommended certain funds or investments for your 401(k) plan. Still, it’s important to diversify your portfolio to reduce risk and increase your chances of earning higher returns. Don’t put all your eggs in one basket! 🥚🧺

6️⃣ Rebalance Your Portfolio Regularly. Your investment strategy may change over time, so it’s important to regularly review and rebalance your portfolio to ensure it aligns with your goals and risk tolerance. It will help you stay on track and maximize your investments. 📈

Unlock the full potential of your 401(k) plan and start saving more for retirement. Book your 401(k) tax-free assessment today and learn more about these blind spots and how we can help you maximize your savings. 💰💼

We look forward to helping you secure your financial future.

P.S. Before filing your 2022 tax return, it’s always a good idea to get a second opinion. If you respond to this email, I would be happy to provide you with a review and estimate of how much you can potentially save for the 2022 tax year. Don’t wait; take action now.