Saving for life after work is a big deal, so it is natural that you will search out the best retirement plans companies around. The number of retirees is growing exponentially thanks to the Baby Boom and organizations of all kinds are attempting to grab market share by devising ways to provide retirement planning services. With the airwaves being flooded with commercials and conflicting reports in print media, how can you tell which one to choose? The simplest answer is to consult with a trusted financial planner, someone who will take the time to understand your goals and plans, then make recommendations to help bring those dreams to life. If you want to get some ideas before you meet with a professional, the following companies all have good reputations:
T. Rowe Price
Based on the sheer variety of plans available, T. Rowe Price is a popular choice for those who are close to retirement and those who have a few decades to go. Whether you are three years out and looking to make a target-date fund to solidify your portfolio or have a little bit more room to maneuver, you will have access to personal advice to secure your future.
Individuals who have a better understanding of how the stock market works, but don’t want to fly without a safety net will find the resources at Fidelity more to their liking. Much like T. Rowe Price, this is a larger financial services company with a decades-long history of providing the full range of banking services for customers of all kinds. You will have access to advisors, as well as the ability to make adjustments to your risk profile or even trade shares online.
If you are looking for a hands-on approach to your investments and are internet-savvy, then Scottrade may be the company for you. Designed as an entry to the market for those with lower starting assets, this organization has grown quickly over the last decade as a center for trading online. Though there are some professionals who can provide guidance on your options, the programs are generally set up to be managed day-to-day by the investor themselves.
Are you self-employed? Wondering how to create a retirement account similar to a large corporation? Decimal provides specialized 401(k) plans and Roth IRAs for sole proprietorships, partnerships, and corporations whose owners are the only employees. It serves a small market segment, but Boomers with an entrepreneurial mindset will enjoy the ability to develop an investment portfolio in line with the average worker at a big company.
These are just a few of the many choices you have when it comes to investing your hard-earned dollars, which is why it’s important to do some research on your own. Check with reputable resources, like Consumer Reports or other watchdog groups, while asking around amongst your friends and family. Find out what people like and don’t, as well as how helpful the individual agents are. You’ll be surprised how far a few questions will get you, and how much safer the financial aspect of your golden years will be.