Retirement Planning Now

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Retirement Planning Now


2011

By Ric Dalberri, Founder of Retirement USA

If you are of a certain age, you well know that you need to
take you retirement seriously and grab it by both your hands, if you want to
have the funds necessary to continue in a lifestyle you consider a quality
life. We are no longer in our parents or grandparents retirement economy. The
day is gone when you were employed by one company for 20, 25, or 30 years and
got your gold watch. With the exception of municipal workers or the auto
workers, it is rare that anyone lasts that long in one place. The average these
days is 7 different companies over a life-time career.

So, not to have our hard earned dollars slip by the
way-side, take control now.

The different types of retirement plans are:

Keough plans

401 (K) plans

IRAs known as individual retirement plans

Company sponsored qualified pensions or profit sharing plans

Most plans are tax deductible and taxes not paid until you
receive your retirement funds. Recently, there has been what is called a Roth
IRA which is not tax deductible. However, you will get your money tax free with
this IRA when you withdraw and don’t have to withdraw your RMD (required
minimum distribution) at 70 ½ years of age with the Roth.

Consider (if you can) not putting all your eggs in one
basket. I know the real estate market is not where it was and will take
countless years to ever get back to the extreme values. We really are where
they should be. Anyway, a real estate investment either on your own or with a
REIT

(real estate investment trust) is another way to help secure
your future. Imagine owning a few rental homes. That’s if you can take the
‘toilets & tenants’ pressure. Are there risks to this type of investment?

Yes, you bet. I’ve had to evict tenants. Remember, most
multi- millionaires were made during the depression by acquiring real estate.

Always secure an expert in any endeavor you peruse for your legal and financial
advice whether it is a CPA or Tax Attorney. However,
you stay in charge.