Articles
Are You Saving Enough for Retirement?
A top concern for many people approaching retirement is whether they’ve saved enough money—fearing they’ll outlive their savings. And that’s understandable: It’s hard to know exactly how much savings you’ll need over the course of retirement given all the big unknowns, such as what age you’ll live to, inflation and its effects on your cost of living, and your future health care and long-term care spending needs.
When it comes to contributing money to an individual retirement account (IRA), you have two main options to consider: Traditional or Roth.
You’ve spent years building up your retirement savings, but what comes next is an even bigger challenge: Turning that savings into an income stream that will last as long as you need it to.
To design an effective retirement income strategy, you must consider some key factors and understand your long-term spending needs. Here are five questions to ask that will help you make smart decisions and develop your strategy.
Like many people, you might have a significant amount of your retirement savings in a workplace 401(k) plan. Many plans today offer extra features that can help you manage your contributions and investment strategy while potentially improving your long-term performance.
Do you lack the time or expertise to build a well-diversified portfolio that meets your long-term goals? Would you like professional help with your investment decisions?