Give your future self a raise
In stock car racing, drag is the resistance a car experiences as it cuts through the air at high speeds. In today’s economy, your retirement budget may be experiencing a drag of its own. That’s why you should consider increasing contributions to your Baltimore County Deferred Compensation Plan account.
By contributing more to your Plan account, you postpone the taxes incurred on that money. When you are finally taxed on the money you withdraw from your Plan account – presumably during your retirement years – you’re likely to be in a lower tax bracket. In the meantime, your contributions and any earnings are invested, giving your account the time to potentially grow into extra assets for retirement income.
You should aware that investing through the Plan involves market risk, including possible loss of principal. Not investing for retirement, or not investing enough, involves risks as well, including the possibility of being financially under-prepared at retirement. Nationwide Retirement Specialists can help you understand your options through the Baltimore County Deferred Compensation Plan, so you can make informed decisions about your retirement planning.
Contact your local Nationwide Retirement Specialist to discuss how to reduce the drag on your retirement budget through increased contributions, helping you arrive to retirement via Victory Lane.
How to contact us
Kevin McQuarrie, Retirement Specialist
Richard DeNardi, Retirement Specialist
Nationwide Retirement Specialists cannot offer investment, tax or legal advice. Consult your own counsel for these services.