401(k) Contributions Advice

Interview Kathleen E. Owings.

Financial Advisor, Kathleen Owings can discuss the topic of how to go about finding and hiring the right financial planner for your individual or family needs.

Some key points that Kathleen Owings
on 401(k) Contributions:

Before Increasing Your 401(k) Contributions

The first thing I encourage clients to think about before they increase their contributions is how much debt do they still have. Student loans, car loans, personal loans are all too common. So, before a client increases their contributions I ask them to look at the debt to see if those additional dollars can be put towards the debt. If they have the debt under control, then we also look at college savings for their kids. If they have not started a 529 savings account for their kids then that is another place we would look for additional savings.

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