Nolan Accounting Center


4262 South 108th Street, Greenfield, WI 53228


Phone: 414-425-5690

Fax:     414-425-2373


November 2020

Staying on Track For Retirement

Many companies have had to reduce expenses to retain employees during the pandemic. To save money, some companies paused matching contributions to employee 401(k) plans. If this happened to your 401(k), do not panic. Keep with your existing retirement strategy and consider the following options.

If your job feels secure and you’re still financially able, continue making contributions. Don’t stop just because your employer temporarily did. The tax benefits and the potential for growth are still there.

Perhaps you’ve cut back on spending because you’re not going to the gym or the dry cleaner as often. Contribute the money saved to your retirement plans. This may help make up a portion of the lost employer contribution. And for an added bonus, some contributions, like those to a traditional IRA or 401(k), may be tax deductible.

With all the turmoil in the markets, now’s a good time to review your portfolio allocation. If you’ve incurred significant losses, look to ensure your current investment strategy makes sense. Avoid making hasty decisions. Instead take a detailed look at your current situation and reevaluate your future needs. And if you’re unsure of what to do, have a conversation with your financial and tax professionals.


Enter your Name and Email address to get
the newsletter delivered to your inbox every month.


Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.