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Community
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Hancock Saves
Community
>
Hancock Saves
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One of the greatest tools available to individuals for retirement savings is the 401K. It is easy to contribute to by payroll deduction, the money is done pre-tax, and because the individual never has the money in their possession it is never missed.
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Community
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Hancock Saves
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The Traditional IRA allows contributions to be made before taxes. This extra money then grows untaxed until you are 59 ½ or you retire. You must start taking out Required Minimum Distributions (RMD) at 70 ½.
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