Question

what types of retirement plan securities would you recommend for individuals just starting their career and individuals at the end of their career?

Answer 1

Retirement Plan: Retirement planning is very important for every individual. The basic principle of retirement planning to start planning as early as possible. Retirement planning is the process of understanding how much it costs after retirement for living a planned life and then come up with the plans to distribute assets according to that retirement plans.

Retirement Plan securities for individuals who just starting their careers:

• Roth IRA: In this plan, employee is responsible, for selecting the investment type for their retirement savings. Roth IRAs are best for those peple who have a very long time till retirement age. Those people have the ability to pay taxes today at a known rate and comeout tax free in future at an unexpectable rate.
• Contribution Plan: In this employees contribution is directly deducted from his paycheque. Examples of this 403b and 401K.
• Invest in Real Estate: in US, Real Estate specially house is the major asset a people can have. so at early age, one have to start investing in real estate.
• Investment in Insurance that offers a fixed income after retirement age and also other benefits.
• Pension Plan is also a good option for retirement planning for those who are just starting their career.

Retirement plan securities for individuals at the end of the career:

• ​Social Security: At the time of retirement, people claim for social security from governement. This will also help in their retirement.
• Traditional IRAs: Traditional IRAs are better option for those people who have a shorter time period for retirement. In this plan, the contributions are tax deductible and individual enjoy tax deferred growth.