Other thoughts about retirement accounts

If you are 40 years old and plan to retire at 65, you can’t just look at the value of your retirement investments 25 years from now. You’re not going to spend all of it the day that you retire, but spread it out over 20 or more years. So this really gives you an investing time-frame of 45 years, with withdrawals beginning 25 years from now.

With any kind of retirement plan, set up automatic contributions so that the money is already deducted from your paycheck. This way you’ll learn to live on what’s left over without having to decide each month if you can “afford it”.

Retirement plans aren’t a thrilling thing to think about. But if you plan to retire at 63 and maybe live to 88, that’s 25 years without a paycheck. Every year that you procrastinate to get started, can cost you over $100,000.

Other Retirement Planning Topics:

1. Retirement Planning
2. IRA’s (Individual Retirement Account) – Traditional IRA
3. Roth IRA – Taking Money Out
4. Employer Sponsored Retirement Plans
5. Retirement Plans - Continued
6. 401K Savings
7. Notes for 403(b) Plan Participants
8. Senior citizens retirement resources
9. Retirement Plans for Small Business and Sole Proprietors
10. Simplified Employee Pension (SEP) IRAs
11. SIMPLE (Savings Incentive Match Plan for Employees) IRA
12. Your own 401(k) for the self-employed
13. Employer Retirement Plan Vesting and Contribution
14. Forgotten Retirement Benefits
15. Other thoughts about retirement accounts
16. Other thoughts about your retirement needs
    

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