Once you choose to save, you have several account types from which to consider. You might have a workplace retirement account such as a 401(k), 403(b), or 457 plan. If you're self-employed, a myriad of other plans such as SEP-IRAs, Keoghs, and SIMPLE-IRAs are available. Furthermore, virtually any worker can contribute to a regular IRA and most to a Roth IRA. Once those decisions are made, you then need to actually invest the money, of course.
...We're moving along in the How to Save for Retirement With an IRA series. Previous steps included:
- Step 1: Learn Your IRA Contribution Limit
- Step 2: Choose a Regular IRA or Roth IRA
- Step 3: Open an IRA
Many people dream of an early retirement. Along with presumably better health in which to enjoy life's finer pleasures, comes the assumption of great wealth. For a fortunate few, this occurs. For many others, early retirement arrives as an unplanned layoff in their mid-fifties followed by a long, periodically unsuccessful and quite trying, job search yielding a significant or total income loss.
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Opening an IRA isn't rocket science. Still, whether it's procrastination, fear, or some other reasons, well too many Americans lack one. Without opening an IRA, you can't save in one for retirement. As such, it's the necessary Step #3 in learning . When you're ready to open an IRA (because you've already learned your IRA contribution limits and chosen either a Roth IRA and regular IRA), be patient and ask questions. It is not the time to be shy. Any customer service representative will be glad to help you answer any questions you don't understand - it's their job to help you get this done. Don't let any uncertainty get in the way of saving for retirement. Open an IRA now.
I came across the article recently. Statistics from the Ipsos study include nearly half of the 25-34 year olds polled fearing they will not be able to maintain their standard of living in retirement. While young people typically have the least amount saved across the generations, they retain one asset older Americans can never get back: time. As such, I hope our nation's young folks use this fear to take action and begin saving now. Of course, if they had, they might be less likely to be fearful. Hmm, does that mean the other half are saving aggressively or are living in denial?
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Reuters - For tourists tired of traditional sightseeing tours, one Berlin tour guide is offering something altogether different: a tour of Berlin's public conveniences.
Reuters - Police arrested an 82-year-old man after he bit and kicked officers who had arrived to mediate in a dispute with a neighbor over a domestic pet.
Remember that even though you may not like each other everyday.....it doesn`t mean that you don`t love each other everyday!
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