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Retirement Planning Guide

With proper retirement planning, you can add that charm and get rid of stress in the post retirement period. As most of the retirees have to live with a fixed source of funds, it is wise that you make proper planning for your retirement in advance. Here is a quick retirement planning guide to help you to take the right steps and secure your future:-

Wise savings

Perhaps the first step towards right retirement plan is to save wisely. Try to increase your savings as they may prove to be quite a handful after you retire. By planning your retirement properly, you can keep a track of your savings and the spending. If you see that the expenditure is increasing, it is better that you cut down on them and start saving for the future. The savings that you make can be very useful after you retire and come handy while emergencies.

Retirement plans

If you are looking for the right channel to save your funds, opt for some retirement accounts. There are many retirement plans through which you can save your hard earned money and keep funds for the future. You can opt for 401k accounts, Individual Retirement Accounts (IRAs), Roth IRA plan, 403(b) retirement plans, 457 plans and other retirement accounts. In order to choose your right retirement plan, you need to have an idea of the various retirement plans and their benefits and features. Most of these retirement plans provide good increase on your money and you can also enjoy tax exemptions and benefits from them.

While you are maintaining the retirement account, you also need to have some idea of the rate of withdrawing the money. In most cases, one is not allowed to withdraw money before the age of 59.5 years. If one withdraws money before the stipulated age, the tax rates are applicable and also he or she needs to pay a penalty of 10 percent of the amount withdrawn. After you attain the said age, you are free to withdraw the money. However, you should try to keep the initial withdrawal rate to around 5%.

Diversified portfolio

For bagging benefits out of your stock market, try to have a diversified portfolio. This prevents you from the whims of the stock market and also guide you to create a balance between the losses and the profits in the stock market. Usually, your portfolio should be a mixture of stocks, equities, debentures, bonds and other short term and long term invest channels.

Other factors

A proper retirement location adds to the charm of retirement. You need to search for the right retirement location to have a great post retirement period. You also need to maintain a good retirement lifestyle to be in the best of mind and body.A good retirement location will help live a lifestyle that you always dreamt of.

Thus following the tips in this retirement planning guide you can make your retirement life enjoyable.

  1. October 14th, 2009 at 16:40 | #1

    Great blog! I appreciate the straightforward info you’re providing. I agree that there are a ton of retirement account options out there but one more opton people should also study is the IRA with Checkbook Control. And… even seniors should consider entity structuring that allows them to set up a small LLC, C Corp or some form of home based business to get a little more tax leverage while protecting their assets from lawsuits and (excuse my French) but litigious dirtballs!

    Have a prosperous day!
    Gabby Huguenin
    Wealth Classes Coaching, LLC

  2. October 15th, 2009 at 00:30 | #2

    Definitely and so is the motive for http://www.futureyears.com to provide as much information for retirement planning goes the right way for a secure and safe journey of life through the stage of retirement.

    Thank you.

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