4 Smart Money Moves for Your 40s
Your 40s can be a fabulous time of life. You've made it through your early working years and may have reached a level where you're doing work you really enjoy. You can also see retirement on the horizon, though you still have plenty of time to prepare yourself financially. Here are some money moves you should consider making in your 40s so you can sail smoothly into retirement.
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If you haven't been maxing out your DCP or IRA contributions, now is the time to start. Many employers offer a DCP -- like a 401(k), 403(b), 457, or Thrift Savings Plan -- that allows employees to make tax-advantaged contributions to retirement accounts. Some employers even offer matching contributions. You probably have over 20 years before you'll begin withdrawing your retirement money, which means you have time to let your investments compound. There's also still plenty of time to invest aggressively, as you have time to recover from any market slumps.
Source: Fool.com
