In 2024, the yearly contribution limit increased to $23,000, but some plans may have a lower limit. Contributions to a 401 (k), 403(b), or 457(b) plan that come out of your paycheck on a pre-tax basis reduce your taxable income. Potentially, this could push you to a lower tax bracket, too. If your employer offers a 401 (k), 403(b), or a governmental 457(b) plan with services through Principal®, enroll online now. To reach a goal of saving 15% or more for your retirement, try to implement as many of these doable financial habits as possible. Helpful links to webinars, articles, and information you need to map out your financial goals and next steps.

k) & 403(b) retirement plans

Principal offers the insurance solutions and retirement and investment products to help you reach your financial goals. The authority had previously told school principals to restrict the appointment of new staff and limit the use of substitute teachers to save money. If you’re already enrolled in a 401 (k), 403(b), or 457(b) plan with services through Principal, consider increasing the amount you contribute from each paycheck.

• Since health care costs in retirement are unknown, how do you start to budget and save?
• Potentially, this could push you to a lower tax bracket, too.
• Helpful links to webinars, articles, and information you need to map out your financial goals and next steps.
• To reach a goal of saving 15% or more for your retirement, try to implement as many of these doable financial habits as possible.

Retirement, Investments, & Insurance for Individuals

Even a few extra dollars per paycheck may add up significantly over time—and it only takes a few minutes. Since health care costs in retirement are unknown, how do you start to budget and save? From budget busters (too much house) to savings missteps (not having an emergency fund), here are the money missteps to avoid at every age.

Check your retirement readiness

• If your employer offers a 401 (k), 403(b), or a governmental 457(b) plan with services through Principal®, enroll online now.
• You want to live well when you retire—and while you’re earning it.
• When bills or debt feel overwhelming, it can be tempting to consider borrowing against your account in a 403(b), 401 (k), or 457(b) plan.
• Contributions to a 401 (k), 403(b), or 457(b) plan that come out of your paycheck on a pre-tax basis reduce your taxable income.

Apex Clearing Corporation is not affiliated with any member of the Principal Financial Group®. Principal® SimpleInvest portfolios are comprised primarily of Principal® products, including affiliated mutual funds and ETFs. You want to live well when you retire—and while you’re earning it. Save a little each month and increase it over time.

What does a 401(k) or 403(b) plan offer?

It also said the interim principal had been working with the interim board, current school principles and EA to ensure everything is in place for pupils and staff ahead of the school’s opening. To give you an idea, $20,000 in a 401 (k), 403(b), or 457(b) account could triple in 20 years at an average 7% rate of return—but not if you withdraw it today. When bills or What is Ripple debt feel overwhelming, it can be tempting to consider borrowing against your account in a 403(b), 401 (k), or 457(b) plan. But the trade-offs can be steep—and we want to make sure you understand them.