3 Ways to Maximize Your Retirement Plan

Woman looking into distance whilst thinking


With IRA contributions due by April 15th, this is a good time to talk about retirement planning and to determine whether you are on track to meet your long term goals.

Here are three ways to maximize your retirement savings:

    1. Contribute to the appropriate type of retirement account:

—  If you’re a working: Take advantage of the 401(k) or other employer-sponsored retirement plan — such as a 403(b) or 457 plan. You want to maximize your contributions if you can.

—  If you’re married, but don’t work outside the home: Make contributions to a spousal IRA.

—  If you’re self-employed:  Are you saving for retirement? If so, do you have the right type of plan?Don’t overlook the retirement plan options available to you i.e. SEP IRA, Owner 401(k), etc. This is one of the best strategies for building value outside of your business.

    1. Consolidate your retirement accounts: You should consider consolidating multiple IRAs and rolling over 401(k) s from previous employers. If you are no longer with the company, your money shouldn’t be there either. By consolidating into an IRA, it gives you more flexibility in terms of investment options and gives you a better picture of your portfolio.
    1. Determine whether you are on track to meet your goals: It is important to know how much money you need to fund your retirement and to track your progress at least annually.  You can use this Ballpark Estimate tool from the American Savings Education Council to determine whether you are currently on track.

Retirement planning is not just about the numbers. It starts with your goals. What does retirement look like for you?

You are in control…

You are in control of your financial future. Careful planning and a long term strategy can go a long way towards achiving your long term retirement goals and living the retirement lifestyle you desire.

Pamela Plick is a CERTIFIED FINANCIAL PLANNER™ practitioner and Registered Investment Advisor located in Palm Desert, California specializing in planning for women. Her goal is to empower, educate and engage women around their money. You can find out more about Pamela and connect with her on twitter, Facebook or linked in by going to www.pamelaplick.com.

Share small business news, blogs and social media tips with Project Eve’s community of small business owners and entrepreneurs today. Our contributors come from a wide range of backgrounds; so whether you are a small business owner, social media strategist, financial adviser, serial entrepreneur, or write an amateur blog we urge you to contribute a blog to our 500,000+ community today. For more information, please refer to our Content Submissions Guidelines.

Add a Blog


  1. 756144 384028I discovered your blog web site on google and appearance some of your early posts. Keep up the exceptional operate. I simply extra the RSS feed to my MSN News Reader. Looking for forward to reading more on your part later on! 79124

  2. 787795 148376Greetings! This really is my very first comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading by way of your weblog posts. Can you recommend any other blogs/websites/forums that deal with the same topics? Thank you so considerably! 740124

  3. 156310 910336hey there i stumbled upon your website searching about the internet. I wanted to let you know I enjoy the appear of issues around here. Maintain it up will bookmark for certain. 455548

  4. 743839 723481I truly appreciate this post. Ive been seeking all more than for this! Thank goodness I found it on Bing. Youve produced my day! Thank you once again.. 439065

  5. I am so happy to read this. This is the kind of manual that needs to be given and not the random misinformation that’s at the other blogs. Appreciate your sharing this greatest doc.

  6. 704520 549185Should you are interested in picture a alter in distinct llife, starting up typically the Los angeles Surgical procedures fat reduction method is actually a large movement so that you can accomplishing which generally concept. shed belly fat 36500


Please enter your comment!
Please enter your name here