Retirement Plans That Exist Today news
IRAs are one of the most common retirement plans. You can set up an IRA at a banking institution or brokerage firm. IRAs allow you to put down investments specifically earmarked for your retirement. These retirement plans are perfect for individuals that want to be in the driver’s seat when it comes to their financial management. 401(k)s and Employer-Sponsored Plans Another smart retirement plan for the aging adult is the 401k option. A 401(k) is a retirement savings plan offered by employers. Contributions will be taken from your paychecks and reinvested by your employer into a fund of your choosing. 401(k)s allow you to access your money without limits. Self-Employed Retirement Accounts If you’re self-employed or own a small business, you have different options available for your retirement plans. Self-employed retirement plans have a higher upper limit for contributions and more investment options than traditional 401(k) plans. Plus, they’re quick and easy to set up, with le...