Retirement Planning Services
Let’s start from the definition of Retirement Planning.
Retirement planning refers to the allocation of finances resources for retirement. Achieving financial independence after your retirement is a main idea of Retirement Planning. Retirement plans may be set up by employers, insurance companies, the government or other institutions such as employer associations or trade unions.
Anyway, most people know the importance of retirement planning, but not everyone do it. We know that retirement planning isn't just about rolling over a 401(k) and investing in mutual funds; it's about making sure you can live the life you envision.
What are the most common retirement plans?
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Government-sponsored Plans
- the Social Security Plan
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Personal Plans, known as Individual Retirement Accounts (IRA’s). These accounts are basically savings plans. There are different types of IRA’s:
- Traditional IRA (you get a tax deduction for the savings you contribute to the account)
- Roth IRA (provides potentially tax-free savings and distributions)
- SEP IRAs (are popular with self-employed people, because SEP IRAs allow for higher contribution limits than a regular IRA)
- Annuities: These are contracts established with an insurance company; there are fixed and variable annuities .
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Employer-sponsored Plans. The two types of employer-sponsored retirement plans are qualified and non-qualified retirement plans.
- Pensions
- Defined benefit Plans
- Defined Contribution Plan
- 401(k) Plans
- Profit Sharing Plans
- 457 Plans
Retirement Planning Services will help you establish a clear path to financial security.
You will have to set-up a plan that secures your financial future without an employer’s income source.
Depending on your goals, your formal plan will contain specific guidance pertaining to one or more of the following: Pre-Retirement Planning, Financial Planning, Mid-Career Planning, Investment Advice and Asset Allocation or College Financing.
Getting ready to retire is a process that ideally starts as early as possible in one's working career.
Make sure you check with your state agency to ensure the provider you choose is licensed and in compliance. Licensing varies from state to state.
Locate a Retirement Planner near your your senior loved one by using the search option above.
