Personal Finance 101 – Retirement Planning – Types Of Retirement Investment Vehicles

Last week in Retirement Planning 101, I discussed what kind of assumptions you can use to figure out the island we call ‘your number’.  Once you figure out your number, there are really two very important ships that will get to that number.  First, how much money do you need to save on a monthly basis to get to your number?   Second, what rate of return on an after-tax basis do your assets need to earn to reach the retirement number?  This week, we will review some of the vehicles you can use to work toward your retirement goal. Employer sponsored retirement plan (401(k), 403(b), 457) – Most employers whether they be companies, schools, hospitals, or government agencies will have a retirement plan they sponsor that allows you to save for retirement.  The 401(k) plan is probably the most widely known of all of these plans.  401(k) plans allow employees to put away dollars on a pre-tax basis into an ...

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Your Three Legged Stool Is Now A Pogo Stick?

It used to be that when most people talked about their retirement, the expectation was to have a three legged stool for deriving income when you actually retired. So, where is your pension coming from in retirement? Without a pension, you’ll have to hop that pogo stick of personal savings and investments to your retirement dreams. ...

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