Subscribe to this blogLay the Financial Groundwork for the Second Half of your Life!
Did you know that one in nine baby boomers are forecasted to live to 100? Also, did you know that women generally live longer than men?
In order to continue to have the lifestyle we want in our retirement, we must take control of our financial futures today. Investing in your IRA or 401 (k) will help to compound the dollars needed to live the lifestyle you choose for yourself. By investing in your IRA, you are investing in your own future.
We need to put as much money away as we can for as long as we can to make these dollars go further. When you sock money away in an IRA or 401 (k), you get the benefit growing these dollars on a tax-deferred or tax-free basis.
When it comes to saving for retirement, working longer doesn’t mean taking less time to plan. With longer life spans, cuts in corporate pensions, decreasing health benefits, and insecurity over social security, you will need every cent of your nest egg to keep pace with rising costs. What’s more, a serious illness or other emergency could cause a severe financial set back.
Even though I’m a big believer in real estate, a truly self-directed IRA allows you to invest in other assets such as:
o Businesses
o Partnerships
o Loans
o Currencies
o Royalties
o Leases
o Oil and Gas shares
o And more!
Visit The Entrust Group at www.TheEntrustGroup.com and learn about the different investment choices available for your IRA or 401(k).
Finally, try not to touch your retirement savings until required by law. The age for taking required minimum distributions is 70 1/2. Experts agree that you should not borrow from your retirement savings to say start a second career or a new business. It’s difficult to rebuild your savings as you approach retirement age because your money has less time to grow. Plus, you lose tax advantages if you withdraw early.