Our philosophy on financial planning is different from much of the financial planning industry – our goal is to clear up misconceptions. We encourage you to read several of our tales and view our resources to help you gain insight and perspective.
Retirement plans are available either through your employer or individually. Some plans allow you to take a tax deduction at the time you contribute to your plan while others let you take it when you withdraw it at a much older age. The three most popular ones that let you take an immediate deduction are the 401k and 403b available through your employer and the traditional IRA available to anyone. The Roth IRA stands alone as the retirement plan that lets you take a deduction upon withdrawal.
In order to be financially prepared for retirement, you need to understand why these plans are so important to your financial health. While there are countless retirement plans, annuities and insurance policies on the market to supplement your retirement; the big four are what you need to know to make an informed decision.
To help you understand the power of these plans, check out these tales that we have prepared: