How to Avoid the Biggest Mistakes 252 Tax Question #2:Tax rates will most likely go up in the future, so by paying taxes today, won't I be saving on taxes tomorrow? Answer:Who knows what tax rates will be in the future? We've had tax rates as high as 70 percent. But refer to the preceding question. Even if the tax rates go up, tax deferred compounding will allow your dollars to grow and grow and grow. Investing Investing Question #1:I'm retiring soon. To protect my money, shouldn't I cash out of stocks and put my money in "safe" investments? Answer:Retirement is not a single point in time. It's a moving target. Remember retirement is rarely limited to only one or even five years. After all, you could live 15, 20, or even 30 years after you retire. The question is, will your money last as long as you do? You should consider putting your money in investments that meet your short and long-term needs. If your 401(k) plan has an adequate investment selection to meet your financial goals and you can take periodic payments from the plan, why not leave it there? (Read Chapter 20, "And Now It's Time to Retire," for more help on this.) Investing Question #2:When should I be getting information about the different mutual funds in my 401(k) plan? Answer:Generally any information printed by the investment managers about your 401(k) invest- ments or your company in the case of company stock is available to you. All you have to do is ask. Your employer must make things like shareholder reports, prospectuses, or performance reports for the various investments in the plan readily accessible.