What Do You Know About Your AE Rosen Retirement?
Let's take a look at some typical 401(k) scenarios:*
Will your 401(k) plan have enough to support you through retirement?
What is a 401(k)?
A 401(k) is a defined contribution plan. Under the plan, your contribution is deducted from your paycheck and sometimes proportionately matched by AE Rosen Electrical. This is an investment account affected by gains and/or losses of the markets it is invested in. There is a possibility of good returns and positive growth, but it can go the other way with negative returns and lose value. There is no guarantee on how much will be there when you retire. Your 401(k) must be used wisely at retirement to guarantee it lasts for you and your spouse.
Using a 401(k) alone as a retirement plan may not be enough to retire on.
Don't take our word for it! Ask your retirement age co-workers why they are still working and how they plan on affording retirement. Additionally, how will they afford healthcare during retirement. Would they be better off if they had a pension?
Check out these links or speak with
a retirement professional for more info.
Now look at what retiring as an IBEW Local 236 Journeyman could look like**
Please contact us for more information:
Chris Lambert 518-646-6219
Kevin Fuller 518-646-6218
*The upper chart reflects 401(k) retirements based on making $30/ hour and the number of years left untill you retire. We used 6% to calculate the compounding interest and a 15 year spend down for your 401(k) account.
**Lower Chart is calculated using 1700 hours worked per year, 6% growth in the annuity and a 15 year spend down for your annuity account.
