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News Item

A-Rod maxes out annual 401(k) contribution

NEW YORK CITY, NY — It’s the end of the year, and many adults across the country are turning to their finances to make sure everything is in order before the year ends.

Alex Rodriguez is no different.

The slugger phoned his accountant yesterday and asked that an additional $7,400 be added to his 401(k) plan, reaching the federally defined annual maximum of $15,500.

“I just thought, you know, here’s this wonderful venue for me to save for retirement, tax free,” Rodriguez said. “And I wasn’t taking advantage of it enough – I had only put $8,100 towards it. Cynthia and I have some extra cash these days, so I thought it would be smart to max out the 401(k) for the year.”

A-Rod’s accountant, Jon Steinberg, agreed – “I think this is yet another wise financial move in A-Rod’s very well-planned financial lifestyle. Alex sat back and thought, ‘What is the best thing for my family, long-term?’ The answer to that question is a healthy retirement fund, and the surest way to do that is to max out your 401(k). It’s not science »”>rocket science.”

Rodriguez, fresh off of signing a contract that, with incentives, will likely be worth more than $300 million, is planning some additional financial planning moves in 2008. At the top of the list is opening some six-month CDs, and maybe even getting an e-trade account.

“Who knows what the future holds,” Rodriguez said. “But with the market as crazy as it is these days, you have to think about these matters. Right now, most of our money is in pretty safe places; but I’m thinking about rolling the dice a bit, maybe buying some Google stock or something. I mean, those dudes are really creative.”

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Labels: 401(k), Alex Rodriguez, CDs, Cynthia Rodriguez, e-trade, Google, MLB, New York Yankees, retirement, stock market

Posted on December 21st, 2007

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Other Related News Items

• New “deal” forces Rodriguez family to tighten purse strings (November 26, 2007)
• A-Rod goes trick-or-treating as Aramis Ramirez; focuses primarily on Lou Piniella’s house (October 31, 2007)
• A-Rod offers one-year deals, performance incentives to service-industry workers (October 29, 2007)
• Cynthia Rodriguez seeking half in divorce filing (July 7, 2008)

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