Apparently, most Americans are not prepared for retirement. While these people may not be terribly concerned about their future at this point in their lives, many are in for a rude awakening when their income suddenly drops dramatically.
By having an individual retirement account (IRA), you can diversify your portfolio and prepare your finances for your future. You might not know this, but there are actually two different kinds of IRAs: the traditional IRA and the Roth IRA.
Did you know that 48% of older Americans have no savings in retirement plans (such as an IRA or 401k)? If you’re one of them, there’s a good chance that you’ll face very serious financial issues as you grow older.
The good news is that it’s never too late to get started! Once you understand the must-know retirement plan basics, you can open an account and start putting money away for your future.
Stick with us as we answer important questions like “What is a 401k plan?” and “How does a 401k work.” By the time we’re done, you’ll feel confident opening up one of your own.Read More
Due to rising unemployment, volatile markets, and just the overall fear of COVID, questions about Social Security have come up frequently. Older workers, at least 62 years old, are beginning to consider claiming their Social Security early. In this blog post, we’ll cover the best retirement age (based on your financial goals), whether or not your social security benefits should be accessed early, and what a normal retirement looks like. Read More