If you’re still decades away from retirement or you don’t plan to withdraw your money for many years, consider the advantages of tax-free earnings and compounding that come with making Roth contributions to your 401(k).

Roth contributions can be a tax strategy for securing your long-term financial future. Unlike traditional pretax contributions, Roth contributions are made with income you’ve already paid taxes on. These contributions and any earnings grow tax-free, and you won’t pay taxes on qualified withdrawals. In short, Roth contributions can reduce your tax liability in retirement.

Although Roth IRA contributions are capped at lower levels and limited by income, the Sandia 401(k) allows contributions up to the higher IRS limits with no earnings restrictions.

Remember, the 401(k) plan is flexible. You can make both Roth and pretax contributions to your 401(k) up to the IRS limits and still receive your match from Sandia.

To model the impact Roth contributions can have on your savings, log in to Fidelity and visit the contribution page.

We’re all feeling a bit of uncertainty these days with the unpredictable changes in the economy and its impact on our wallets.

The simple act of taking the time to set small goals that address one financial priority at a time can significantly reduce stress, increase your confidence, and bring you closer to achieving financial security — something that everyone aspires to.

Afraid of what you may learn? Don’t let that stop you. Shift your mindset to what you can control and start small.

It could be something as simple as cancelling subscriptions you no longer use (or need) or organizing your bills and getting rid of outdated statements. Or maybe it’s something a little bigger, like tackling credit card debt and paying off balances.

Regardless, it starts with committing your time to secure your financial future. To get started, block some time on your calendar for a personal meeting. This is time you set aside to focus and take stock of your financial picture.

Need help? Log in to your Fidelity account to sign up for a complimentary one-on-one appointment.

It’s important to have a will and/or an estate plan to make sure that your assets go to the people you want to have them when you die. Here are some resources to help you understand what you need to do.

• Fundamentals of wills, trusts and powers of attorney
• Preserving your savings for future generations
• Five steps to create an estate plan
• If you’re enrolled in the voluntary legal insurance plan through Sandia Extras, you have access to no-cost estate planning services through ARAG. Visit the ARAG website (enter access code: 18375san) or call 800-247-4184.
• Connect with a Wellthy care coordinator to learn about legal and financial resources they offer.
• Explore resources available through your Employee Assistance Program (EAP) benefits. For information about who provides your EAP benefits, visit hr.sandia.gov.

Keep in mind that when you enroll in Sandia’s prepaid legal plan as a new employee or during annual benefits Open Enrollment, you have access to legal expertise, including estate planning, without hefty legal fees. For details, visit mysandiaextras.com or call Corestream at 855-514-8800.