We took the time to compile some of the best retirement planning resources available online. We hope that this compilation of information, video’s, infographics, etc. becomes a resource you can bookmark for constant future reference.
Retirement Savings Overview Infographic
The first section of this info graphic discusses how you can really put yourself at a disadvantage by not beginning to save for retirement in your 20s.
The differences between an IRA and 401(k) are then discussed. The items discussed include the tax benefits of each.
The 401(k) is talked about as likely being the best investment for those who work for a company. Automatic deductions from paychecks and matching is what makes this such a worthwhile investment. The investor are gets to choose exactly where the money goes.
Growing money tax-deferred can be accomplished through traditional and Roth IRAs. Roth IRAs not being tax-deductible and traditional higher raise being tax-deductible are talked about in this section. Roth IRAs our 100% tax-free, so you do not pay any taxes on your earnings.
A couple of facts and figures are broken down including the fact that if you invest $5000 per year it will end up being $500,000.30 years later.
Essentially, this means that you successfully turn $150,000 into $494,867.
There is a really cool chart in the infographics that breaks down different ages and compounded investments.
Albert Einstein quote is also mentioned. “Compounding interest is the most powerful force in the universe.”
A very nice illustration of compounding interest is then shown.
The info graphic then goes into showing how many Americans are extremely far behind in saving for their retirement.
We hope you enjoy this info graphic from mint.com as much as we do.
The Life Insurance Cheat Sheet From Bankrate
- Do You Actually Need Life Insurance?
- How much do you actually need?
- What type should you get?
You can, of course check out the graphic to the right. Or you can download the full pdf here.
How Would You Fair Investing Your Money In Specific Investment Types?
A great resource (however small) was published in Money Magazine which breaks down how you would do with specific types of investments if you invested your money at age 65. Very interesting information. Sorry for the size, but it’s all we go.
Looks like it’s a good idea to break down your investments evenly across annuities and stocks and bonds.
What Your Investment Portfolio Should Look Like (Video)
Phil from HardWorkingMoney.com did a great job of breaking down what the ideal investment portfolio should look like in this video. He used a comparison to the food pyramid, which give the video it’s easy to understand message.
Ideas To Make Your Retirement Last Longer
If you’re looking to stretch out your retirement, here’s another piece from bankrate that goes through some particulars like putting off social security withdrawals, delaying your retirement and striving for good health.
Did you realize that retired elderly couples need a whopping $250,000 for medical care alone? Crazy!
Retirement planning – What’s Really Involved?
From 401 k planning to administration of the best benefits and business decisions you should be making… retirement planning can be complicated. Before we go any further, I want to be sure that we are clear that you should consult some kind of an advisor in your city to help you make different decisions. There are many businesses that will consult you. A counselor or consulting company will be able to direct you in your financial decisions and investments much better than an article like this one.
The steps to setting goals are very individual, but they often first include looking at your expenses and NOT your income. You may have a group of friends or executive that you know who says that the amount of your investment savings should include personal income, but it’s actually irrelevant. This is because you want to know the price of continuing your current living standards. There are many worksheets available to help with this. A worksheet will include your situation specifically. So, traditionally, we want to look at strategies that include limiting your expenses.
Retirement plans should focus on eliminating debt.
Supplemental income spreadsheets and software is certainly important, but don’t forget to create some kind of a system that will give you a tool to reduce expenses. Wachovia, Wellsfargo, Westwood, New York and other companies are firm in the idea that expense reduction should be one of the main sponsored things that teachers talk about when it comes to tools for retirement. A small spreadsheet can be created that will help you with saving money through reviews of your expenses. Looks at the types of expenses as well. You never know what expenses you may have that actually with your tax liability. Baby boomers were the first people to really need retirement calculators. Some feel they’re bogleheads.
Retirement plan advice advisors also recommend looking at your retirement nest egg capital amount.
Consultants agree that you should figure out what the deferred interest can be with a defined amount of money directed to your savings. By knowing what your estimated distribution will be and knowing this amount early, you can avoid being one of the dummies that’s out there. You don’t want to be an employed employee for the rest of your life. So, be responsible with your goals, like any expert would recomend, and your distributions options will be solid.
401k retirement plan owners are not always planners.
Just because you have a 403, 457 or some other plan for retirement, it doesn’t mean that an expert consultant, whether in Canada or not, would agree with the route you’ve taken. You should look at a comparison as the center of your retirement study. Your employer could have been matching your retirement for years and that may put you, and the other employees, in a unique situation where you can hand a bit of a financial hardship.
Just remember that if your employment allowed you to free up some of your income throughout your life, that doesn’t mean your IRA is really enough. Schwab, National, JPMorgan, Kodak, NYL and more recommend that you look outside of expected pensions and get help from a planner to make sure you have every option to meet your needs. In 2010, there are so many ways to save and make money.
ING retirement plans
ING offers a guide on planning for your retirement. Many states, including Florida are included in the guide. How you collect information and plancan affect your health in a positive or negative way. This should be incentive enough. If you’re not into the ING guide, check out John Hancock’s. They have a similar thing. Which edition you prefer really depends on how you want to live, the providers you want to use, and the qualified provider you want to help you.
Retirement planning calculator
We have a lot of information available on retirement calculators on the home page of our site. We are not the administrators of the retirement calculators, so if your application doesn’t benefit you, we appologize. We have solidified our services a bit. There should be a simple roth ira registered pension portal soon.
Our traditional calculator provides a service that many people find valuable, but no rules apply to if really for any one self. We may, in the future, have seminars. You’ll be able to join a seminar to learn more about how to retire right.
Planning for retirement
My guess is that if you’ve gotten to this page, you’re looking for information about finance. As long as you’re not from India (or any other country) I think we can help. There’s information here about Fidelity, LLC, IBM, FERS and more.
Ohio residence, for example, can RRSP the SERP SEP and join our online summit party. We’ve had civil people from the 5th administrator and even MR. Baden from Denver Concordia. You may be Canadian, you may be a baby boomer. Either way, you’ve chartered here to look at CSRS Death ETF’s. We’re glad you’re here… even if you’re in Kansas, MN.
403b retirement plans
There’s some information here on 403B. You can get it on your screen. There’s no need to login.
Wells Fargo retirement plan
I don’t believe that Wells Fargo is an LLC. But there is a list of companies… some are federal organizations right here online. If you’re pre-planning for the first vs the third time, it doesn’t really matter.
Retirement income planning
T Rowe Price has a keogh supp thrift non intrusive calculator on their site. With an office in Roseville, MA, lic calculations can b quite helpful.