Retirement planning is the setting aside of certain assets to obtain a steady income at retirement that will allow you to do what you want to. In general terms, it is planning your finances for the period of life after you stop working. Retirement planning involves the consideration of a number of factors, including:
Each person's situation is unique, and therefore, retirement planning isn't a single standard plan for everyone. Saving money for retirement through one or all of the available retirement planning options is the first place to start. Many employers have retirement planning options available to their employees. Even without company sponsored plans, retirement planning is possible when funds are invested wisely. Utilizing the right type of IRAs, tax-efficient investments, and various types of annuities can make achieving a secure and comfortable retirement a reality.
*To learn about the benefits of IRA's, go to the "My Blog" section and view
*Visit our "Financial Calculators" tab and try out How Much Will My Savings Grow?
Retirement plan contribution limits to section 401k / 403(b) / 475 plans and IRA plans have not changed.
The annual limit on elective deferrals to 401k / 403(b) / 457 plans is $18,000 ($24,000 if age 50 or older).
Annual contribution limit to an IRA (Traditional or Roth) is capped at $5,500 ($6,500 if age 50 or older).
While annuities are not for everyone, they can offer specific benefits for specific needs. Learn about how annuities work and their uses by watching the short educational videos from Allianz.
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