Financial Planning for Tomorrow.

Financial Planning

General Retirement Planning

What you are making right now, today may be enough for the present. However, you'll need to plan ahead for a secure retirement and the ability to maintain your lifestyle. First, you need to determine your financial goals -- that is, how much do you need after your retire? Once you've determined that - how should you invest to meet those goals? The possibilities are practically endless so close examination of your options is essential. Here are a few items to consider. Passbook Savings: Most people are familiar with this. They are insured by the federal government, have set interest rates, usually require no minimum deposit and can be added to and withdrawn from whenever you want. Certificates of Deposit or CD's come in various amounts and vary from one week to two years. They usually pay high interest rates however, there is penalty for early withdrawals. Individual Retirement Accounts or IRAs, vary on minimum deposit requirements; have maximum limits and in some cases, you can deduct deposit amounts from taxable income. Mutual Fund accounts allow flexibility but you'll need to determine your income growth needs in order to choose the right type for you. Bond Funds let you buy a diversified portfolio of bonds with varying deposit and maturity requirements. Stock Funds let you diversity your stock holdings, have minimum investment requirements and respond according to the stock market price changes. Treasury Bills are available in $10,000 increments for six month periods and are not subject to state and local income taxes. Take care in choosing your investment avenue. And the best way to begin is to seek out professional assistance.

Retirement Income Providers