Ideally, saving for retirement should start as soon as you start earning money.
Most people don’t start to think about preparing for retirement until much later in life, when there is less time to save and invest.
Thinking About Retirement
When you’re thinking about your future, you can’t help but think about how you’ll spend your time in retirement. If you aren’t working day after day, what will you do with all that free time? How will you afford your expenses if you’re not working?
Here are some articles I’ve created that cover some of these initial retirement planning thoughts to get you started:
- How to Determine Your Income Needs for Retirement Planning
- How to Manage Your Retirement Savings
- Will You Work Past Your Normal Retirement Age?
- 3 Early Retirement Planning Ideas
Types of Retirement Accounts and Rules
There is no one size fits all retirement account. Each retirement account has eligibility requirements for who can contribute, and their own set of rules for early withdrawals or rolling them over into different types of accounts.
I like to give people information on all the different methods available for retirement planning and investments, so they can choose the retirement account that best matches their unique needs:
- Rules and Limits to Open an SEP IRA
- 7 Things You Need to Know About a Simple IRA
- What Are Deferred Compensation Plans?
- Should You Roll Over Your Pension into an IRA?
- 403b Maximum Allowable Contributions
- 401k Early Withdrawal Penalties
- 3 Things You Must Know About Inheriting an IRA
- Spousal IRA Contribution Rules
- Should You Invest in a Roth IRA or Thrift Savings Account?
- Four Reasons You Should Roll Your 401k into an IRA