Are You Prepared to Retire in Fitchburg
After you spend most of your adult life working professionally, it’s time to spend your life doing what makes you happy during your retirement. If you’re close to retirement, you know what you need –- an income of about three quarters of what you earned while employed full-time, as well as money for health care and savings to help you reach your goals like more education, vacations, art projects or a dream home. If you haven’t already, take a careful look at your retirement portfolio and work with a trusted financial professional to make the most of your golden years.
If your retirement is years ahead, it’s wise to take a careful look at your retirement portfolio and start saving right away. A financial professional or retirement advisor can help you decide how much money to set aside, where to invest your nest egg and how to plan for income taxes.
How do you Begin Saving?
Experts ranging from Wall Street brokerages to the U.S. Dept. of Labor to top-tier financial journalists agree: the surest way to plan for your golden years is putting aside savings in your twenties. This means more years for your investments to develop in the stock market, and it means you won’t have to panic toward the end of your career as you get ready for years away from a steady job.
How We Can Help
When you’re saving income regularly, you choose where to put your developing accounts. The most often recommended option is to choose a fund with tax perks such as a 401(k) or an IRA, which you set up on your own. Depending on the strategy you choose, you can set aside retirement money before the wages is taxed or you can receive it after retirement without accruing taxes. If you invest without these tax benefits, you will be taxed on the original income and be taxed at the capital gains rate.With the money in your accounts, you can also choose between investing in bonds, stocks, or a group of funds known as a mutual fund.
Your strategy might adjust as the stock markets change. You can study the basics of developing a strategy for retirement by reading business journalism, but a financial specialist has the knowledge to appreciate all the details. If you find a financial professional you can trust, you will save yourself a lot of trouble and will have more success.
Set Up an Appointment
It can be intimidating to set up a retirement fund, but the professionals at Retirement Income Strategies in Fitchburg know retirement planning. In order to reach your dreams and make them a reality, allow us to help. We’ll work carefully with what you already have and grow a durable nest egg to fund your retirement.