When you seek retirement planning investment information, you are immediately hit by a deluge of confusing and contradicting 'noise', to put it kindly.
If I could be of any help to you, the best I can do is to bring some order to the confusion.
There are roughly three stages during your retirement planning lifetime and at each stage you would need different investment information.
The early years
You should start investing for your retirement right from the day you receive your first paycheck. But during these early years there's no urgency and very few people actually try to understand the retirement plans available.
There are several tax advantaged deferred-compensation retirement investment plans available that permit you as an employee to have a portion of your salary deducted from your paycheck and contributed to a retirement investment account. Your employer may also make contributions to this account.
Several of these specific tax advantaged deferred-compensation retirement plans are discussed on this Web site. Do study these plans for informed decisions on your retirement planning investments.
This is the stage when you realize that your provision for retirement is hopelessly inadequate. This stage hit me personally at age 50.
This is also the stage where you typically earn an above average income. You might be in a senior or management position with little free time on your hands.
It is at this stage that you need to do some serious retirement planning. The emphasis is on Saving. Whether the savings are tax advantaged or not.
You need to swell your retirement account to a value at retirement that would enable you to live on the annual earnings of your retirement account without drawing against your principle if possible.
How your retirement account is invested is not going to solve your problem. The smart thing is to diversify your investment spread and to remain cautious and conservative rather than aggressive.
But you'll have to investigate the possibilities for earning multiple income streams. A second job, some consulting, monetize your hobby, or consider a business on the Internet run from home.
You can also consider scaling down your lifestyle. It is surprising how much you can contribute to your retirement account out of direct savings by merely moderating your lifestyle. By stopping excessive consumption. My wife and I have done that and it ended up to be the biggest contributor to our retirement savings.
You can in many cases postpone your retirement. If you like your job, if you are healthy, and if your employer is willing you can postpone retirement indefinitely. An uncle of mine finally retired at age 75!
The retirement years
At this stage retirement planning investment information should not be an issue anymore. You have a retirement plan and structure in place. You have an experienced and qualified advisor.
This is not the time to invest in risky ventures. If it is too good to be true, don't invest. Even if your advisor thinks you should.
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