We have talked about retirement extensively but now that it is the beginning of another year it is a wise decisions to step back and evaluate your retirement to make sure you are on track to be retirement ready.
Looking over this infographic is a good start. Some of the numbers on the infographic are out of date like the contribution limits, etc. Make sure you check ages and contributions to make sure you know the limits for 2014.
Even if you have already started saving for your retirement and have even set up your retirement accounts you can still benefit by reading this infographic. It might remind you why you chose the accounts that you chose. It could possibly even get you to think about setting up a new account. If you haven't started your retirement this is a must read to start the fire within that gets you thinking about retirement and what you need to do today to have a great retirement down the road. It is a wise decision to make sure you have the amount of money saved up needed for a solid retirement. Read Is Your Retirement Plan Ready and check out the link to the calculators towards the end of the article to calculate how much you are going to need.
Choosing the type of retirement account that is right for you doesn't have to be that hard. If your employer offers a 401k and will match you should always take advantage, it is free money. There are other options that could be right for you. If you want more control over your investments in retirement then the best option is a self directed IRA. Read more about Self Directed IRA Rules.
If you need more motivation to start figuring out your retirement check out Retirement Stats and Tips.
Contact us or comment below with any questions or to learn more about self directed IRAs.
Author: Nick Barker