Are you doing the right things?

You are if you can say yes to these four questions about your investing and money-management habits. If not, you have some work to do.

Net Worth: How do you stack up?
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Are you grabbing every tax break you can?
As powerful as a 401(k) is, it isn't always enough, especially if you started late. So don't be surprised if retirement calculators out there tell you to save outside your company plan as well.

Those non-401(k) savings may also qualify for tax breaks. Miss out on them and you're passing up a powerful way to build wealth quickly. So once you fund your 401(k), see if you qualify for a traditional or Roth IRA. If you do - get IRS Publication 590, Individual Retirement Arrangements at irs.gov to find out - you can set aside up to $4,000 this year and $5,000 in 2008. If you're 50 or older, you can throw in an additional thousand bucks.
401(k) Chart Progress More Tax Breaks Safety Net
4 steps for boosting returns and reducing risk. (more)
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.