Gariwala: What Is A Great Personal Finance Plan For Investing For Retirement?

Posted by rahot on February 24, 2012?
Filed under Personal Finance and tagged Finance, Great, Investing, Personal, Plan, Retirement

F?r ??m? retirement m?? seem l?k? ?t ?? a long way ?ff. F?r others retirement m?? b? rapidly approaching. N? matter h?w close ?t ??, now ?? th? time t? ?t?rt investing. W?th th? stock market ?n th? rise again, ?t m?? b? years before ??? w?ll h??? ?n opportunity l?k? ??? ??n h??? now. S? h?w d? ??? g?t ?t?rt?d?

Y?? ??nn?t save f?r retirement. Th? cost ?f living ?nd inflation w?ll always out r?n ?n? small amount ?f interest th?t ??? m?ght earn. Social Security w?ll continue t? b? unstable w?th many doubts t? h?w long ?t w?ll last. Investing ?? th? ?nl? way ??? ??n ?r??t? enough money t? ?n??? ???r golden years.

Things h??? changed; years ago ??? ???ld count ?n working f?r th? same company f?r many years. Th?? w??ld offer ??? a gr??t retirement ?l?n ?nd a gold watch. Now company retirement plans ?r? insecure ?t best ?nd nonexistent ?t th? w?r?t.

Th? best scenario w?th a company retirement ?l?n ?? ?f th?? offer a 401k w?th matching funds ?f ?n? type. Th?? w?ll leverage ???r dividends ?nd ???r return ?n investment. If ??? h??? th?? option try t? contribute th? maximum th?t th?? w?ll allow ??? ?nd th?t th?? w?ll still add matching funds.

Next ??? h??? many options. Th? m??t secure ?? certificates ?f deposits ?nd money market accounts. Th??? ?r? gr??t ?f ??? ??n stand a lower return w?th l?ttl? t? n? risk. In m??t cases though th? time required t? build up a g??d income w?ll m?k? th?? a b?d investment.

Y?? ??n invest ?n stocks, bonds ?nd mutual funds. B? prepared f?r th? long haul w?th th??? investments. D? n?t look ?t ?t ?? something ??? need t? b?? ?nd trade ?n a daily basis. Th? average investor ?n th? stock market th?t sees th? b?gg??t gains ?? th? investor wh? puts 10-20% ?f th??r income ?n t? long term stable stock f?r growth ?nd dividend.

Th?n reinvesting th? dividends back ?n th? same stock w?ll g?t th? best return f?r ???r money.

Better still ?? investing ?n Individual Retirement Accounts (IRA). IRA?s ?r? n?t taxed until ??? withdraw th? money ?nd w?ll allow ??? ?n ??m? cases a tax deduction. Th? best option ?n IRA?s ?? a Roth IRA. Y?? pay taxes ?n th? money ??? invest ?nd d? n?t g?t ?n upfront tax br??k. Wh?n ??? withdraw money ?ft?r ??? retire though, ??? pay n? federal income tax. Roth IRA?s ??n b? open ?t m??t banking institutions.

Th? m??t ?m??rt?nt ??rt? ?f investing ?n ???r retirement ?? t? ?h???? a ?l?n ?nd t? invest th? m??t money possible f?r th? longest period ?f time. M??t people wait until ?t puts a stain ?n th??r lifestyles t? ?t?rt ?nd th?n h??? t? suffer through tight financial times during th??r golden years. M?k? ???r retirement a golden time ?t?rt now.

T? g?t more gr??t tips ?nd advice ?n ???r personal financial ?l?n check out th? resource box below. Th?n join m? blog.

Wh? ?? Mike Gordon? Mike Gordon ?? a successful business owner ?nd business coach w?th over 40 years ?f successful entrepreneurial experience under h?? belt. Mike ??n b? found ?t h?? blog http://www.whoismikegordon.com Join Mike ?? h? talks ?b??t strategies t? g?t ???r personal finances ?n order. F?r more retirement ?l?nn?ng tips ?nd personal finances sign up f?r updates fr?m http://www.whoismikegordon.com