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If you have a 401(k) plan through your employer, the contributions are typically viewed as retirement savings. When markets and institutions falter, it’s natural to grow concerned over your nest egg. You may be wondering if your 401(k) funds are protected in a bank collapse. There are certain safeguards in place for these accounts, based on the types of investments you have and where you have them.

When considering how 401(k)s are impacted in a bank collapse, it can be helpful to know:

You’ve saved and saved your money to build a hefty retirement savings account. You’ve trusted your retirement investment manager to build those assets. Whether you’re an employee saving in the company’s 401(k) or a business owner saving in your own retirement savings vehicle, if you’ve got a competent provider and the discipline to save, you should enter retirement with substantial assets.

You don’t need to have a high income to start saving for retirement. There are effective ways for people with little money to begin to build wealth for the future.

Here’s how to invest for retirement with little money:

— Pay yourself first.

— Automate the process.

— Get a company match….

Many lottery ticket holders are already planning how to spend that first million of the $1.28 billion Mega Millions jackpot up for grabs tonight.
Channel 9 went to an expert to find out what you should do first if you are the lucky winner. One said to hold on to that money if you get it.

“First thing you should do is absolutely nothing,” said Craig Kirsner with Stewart Estate Planning. “First thing, go out and get an amazing CPA and tax accountant so that before you even go in and claim your winnings, you’re prepared.”