Answers in Retirement Planning

Whether you are 25 or 65, it's never too soon or too late to plan for a happy, financially-secure retirement.
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Because you are both young and starting out in your career, a ROTH IRA is generally the way to go. The ROTH may provide you tax benefits if and when taxes increase in the future. Because you are young and just starting out in your career I am guessing ...(more)
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Have your cake and eat it to. Max out the full amount to your defined contribution plans/IRA/401(k) plans which is $53,000 in 2016. This amount will reduce your taxable income. Let that grow tax-deferred and then convert it over to a Roth IRA account ...(more)
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I agree with many in this conversation that the type of plan matters less. It is amount saved, allocation, and time that are the key factors, however, going under the assumption that all of those are well handled, I would highly encourage a Roth. Given ...(more)
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Target date funds are nice because they're easy. But, they also have a fixed glide path. If you're near retirement, you may want to evaluate the bond positions in the target date fund, as we should soon be in a rising rate environment, which is bad ...(more)
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It typically takes 15-18% contributions to your plan to replace 80% of your income in retirement.
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The nice thing about the ROTH 401K is that it also allows you to manage how much taxable income you receive once you retire. We typically recommend having at least SOME of your contributions going into the ROTH side.
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Like any other financial product there are advantages and disadvantages to target date funds. To answer your question related to the diversification in these funds and whether or not it is sufficient, I would say that many target date funds will contain ...(more)
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Richard P Taylor Level 17
There has been some excellent discussion in the previous posts about annuities. A few things I would add to help you. There are many annuity/insurance companies out there. All of them have slightly different features, benefits, costs, etc. It's fairly ...(more)
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An old item and the original poster has likely moved on, but it's a question we hear again and again...not only as it relates to 401(k) retirement savings plans, but with regard to 529 college savings plans as well. The short answer is no, I would not ...(more)
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Target funds generally are well diversified. If I where you I would contact the employer plan and have them send you a breakdown of what the target fund is currently invested in and what fees are associated. Then review that with a financial professional ...(more)
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The closer you are to retirement, the more you will want guarantees. You get no guarantees from a target date fund. You could consider asking your employer after age 55 for an in service rollover distribution into an annuity with a guaranteed income ...(more)
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Anyone answering your question would need to know more about your age, your geography, and current level of savings to support either just you, or you and a spouse. As a certified financial planner I would also want to know what your yearly income might ...(more)
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Steve Casull Level 13
Annuities are not guaranteed by the federal government. And they claim to be collateralize d with bonds, but what if the bond market takes a dive and the insurance company that is guaranteeing the annuity goes bankrupt? AIG had to be bailed out in 2008. ...(more)
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Steve Casull Level 13
If you are at a low income, then a ROTH. Are you planning on buying a home soon? You can take up to $10K for first time home buy. Do you see all the possible things you can take advantage of? I would need more information about YOU in order to give you ...(more)
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Peter Cacioppo Level 16
Depends............. Successful clients do certain things. 1. Pay themselves 20% of their Gross Salary every month by automatic programs through their 401(k) or IRA plans, and automatic credits to a brokerage account. 2. Borrow money only to buy a home. 3. ...(more)
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