Retirement Planning Software

Retirement Planning Guide

Retirement Planning Guide

Much has already been said about it but it always pays to have it stressed: the best time get a retirement planning guide should start now. The reason for this is that most people think that it is too early to plan for retirement. They think that just because they are still young and on their prime, they will not any early planning on this matter. The trouble with this kind of thinking is that time, which is an important factor in planning, is wasted, resulting into a less efficient plan in the end. On the other hand, we have some people who, reaching the brink of retirement age, think that it is already too late to have a workable retirement plan. The truth is, it is not too late either for an efficient guide to retirement planning. It only takes the right consultant, company, guide, and mindset to get the job done.

Most people are confident abut their retirement. But some are still grappling with the issue of not really being able to save enough money for it. Researches show that about 53 percent of workers in their 30s have saved only a median value of 17,000 dollars from individual as well workplace retirement plans. By the time these workers reach their forties, 59 percent of them have their money growing only to about a medial value of 40,000 dollars. The moment they reach their 50s, which is near-retirement age, they have only less than 100,000 dollars in their retirement accounts.---an inadequate amount, says experts, because the ideal percentage should no more than 4 to 5 percent a year from one's accounts. Furthermore, 60 percent of 65-year-old and even older retirees get most of their retirement income from Social Security, which pays an average amount of about 1,000 dollars a month.

For a hard-earning employee, the numbers may sound distressing. But this is not the case if you have a retirement planning tool and use it properly. There are options for you, of course. There is the 401k option for you that allows you to save up to about 15,500 dollars a year. This way you won't pay taxes until you start getting money. If you would like, you could also 4,000 dollars in pretax money annually into an IRA. Those who are 50 and older are allowed to even contribute more to 412k and IRAs. Another option is Roth 401k and Roth IRAs. Both these options allow you to save taxed income while not affecting your earnings. This is ideal for people who know that taxes will be heavy on them once they start reclaiming their retirement incomes.

Whether you feel it is too early or too late for retirement, think about these facts. They were culled from real people having real retirement situations. Maybe it is time you look more into what you have done so far regarding your retirement. As a retirement planning tool, guides to retirement planning should be able to clarify some things about your retirement. There are also companies who have specialists you can consult regarding the best retirement planning guide for your situation. Each retiree is unique and the best guides are those that are made according to unique needs and wants of each one.

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