Wednesday, 30 January 2019

Help! I Need Retirement Guidance


All the information available on retirement can be overwhelming. To start or continue your retirement education, consider a subscription to The Retirement Intelligence Information Services newsletter. The newsletter provides investment education in short informative articles, just like this one. 

Cash Reserves

You should have between two months' and a year's worth of spending in cash reserves at all times. The amount of reserves you will need depends on the stability of your income. Your cash reserves should be kept in safe and liquid investments - saving or checking accounts, U.S. Treasury bills, short-term bank CDs and money market funds. If you have credit card debt, pay it off first, before funding your emergency fund. Once the debt is paid off, consider investing to Roth IRA. This may earn you a better return on your money. Follow the plan above that will allow you to sleep the best at night. 

Retirement Plans and Accounts

If your employer does any sort of matching contribution, then your retirement planning needs will be best met by fully participating in your employer's retirement plan. If your company does not match your contributions, then contribute the maximum to your Roth IRA, only then should you explore using your company's retirement plan or other retirement account options. 

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