Your retirement is in your hands. You have the option of trying to live off social security, or by the proceeds from investments that you made during you working life. Your options are not limited of course, but normally people consider their IRA and their 401k investments as their retirement income scheme. In your 401k you are allowed to invest $17,000 in pre-tax income annually, your IRA will allow you another $5,500 or so depending on your age and status.? ?If you earn $220,000 then any financial consultant would suggest you go for the maximum allowable. The consultant will suggest that you should lay aside 10% of your annual income if you can. If your employer offers matching contributions, or even 50 cents on the dollar, you can reduce your contribution by 3 or 4%. However you do it, you and only you can provide for your retirement.
This entry was posted by admin on June 20, 2012 at 1:19pm. It is filed under online business news.
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