Retirement Resource Archives

5 Blatant Warning Signs You’re Not Prepared for Retirement

Retirement may seem years away especially when you are young, but neglecting the proper planning now could cost you hundreds of thousands in savings. If any of these describe your situation, it is time to kick your planning into high gear. Your normal savings account isn’t earning interest The national average interest rate for saving accounts is just 0.04 percent according to FDIC. Moving your money to an account with higher interest is one of […]

Can You Open a Roth IRA for Your Children?

Typically, a Roth IRA account is not a savings plan or vehicle for your kids, but it can be! These accounts are extremely ideal for children as they’ll have decade’s worth of contribution growing tax-free. But, the best part about the Roth IRA accounts is that they are also very flexible, which means the contributions you make to the Roth IRA accounts can be withdrawn tax-free and penalty-free at any time! Interesting Facts about Roth […]

3 Popular Retirement Plans For The Self-employed

If you’re self-employed, your primary focus, especially in your entrepreneurial effort’s early years, likely is to just make sure your business survives. But once you’re on a stable business footing, it’s wise to look into tax-deferred retirement plan options for your small business. 1. Simplified Employee Pension (SEP): One reason that SEP plans are popular is that they are easy to set up and maintain. You can establish a SEP with a simple one-page form, […]

Single Women Planning for Retirement Face Unique Challenges

Saving and planning for retirement is tough enough in general but the deck is stacked against women in four important but not insurmountable ways. In many ways, single women face the same problems as men when they consider how to retire with enough income, with one exception: they worry more. Their worry is not misplaced. For one thing, it is more difficult for a single person to save than it is for a couple. And […]

5 strategies for Late Starters To Boost Their Retirement Savings

It is no longer a surprise that people are approaching their retirement age without much in their retirement savings account. Is there something you can do to salvage the situation? When you are on the other side of 40, time will seem like it’s flying but do not panic, this article will help you catch up. First of all, it is important that you understand that you are not alone. A study by the National […]