Investing Advice

Other thoughts about retirement accounts

Fund your retirement savings too the max before funding your children’s education savings accounts. There is financial aid available and public institutions. Your children are more likely to pay back student loans than pay for your retirement.

Since most of us are living longer and therefore will spend more time in retirement, you may not want to plan to retire early. Instead, continue working, giving your investments more time to grow. The compounding effect means that waiting an extra 6 years can mean twice as money in your retirement account, and a higher monthly check from social security.

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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Who's Not Investing?

Millions marry and start families each year without taking basic steps to make sure their future, as well as their children's, is financially secure.

According to a recent survey by Princeton University and the Consumer Federation of America, 70% of households with incomes under $50,000 a year have retirement savings of less than $5,000. This same report said "most Americans are living paycheck to paycheck".

Learn more about how you can plan, save and invest smart for your family's future.

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