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Retirement
Recommended retirement books by David Bach, Dave Ramsey, and Robert Kiyosaki

 
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Retire Young and Retire Rich!!!

Retirement Strategies are the most important part of your budget and spending from your income. People are living a lot longer after retirement than they used to, which requires you to save a lot more than your ancestors did. Also, companies are doing away with pensions, and Social Security is also deminishing to the point were some younger generations have to wait till after 70 years of age to collect if they even can. Medicare has caused many frustrations with medical/health and prescription coverage and may not meet your needs during retirement. The good news is there are many retirement options for you to choose from which you can learn about by reading these retirement books.

Eliminate your worries!!!
Wouldn't it be nice to eliminate retirement worries and feel secure about your future? The good news is you can start taking care of your financial and medical/helath worries now and eliminate dependency on your company, and on the government, while building a secure financial legacy to leave behind to your loved ones.

In addition to your employers retirement contribution plan and/or pension, there are a variety of different retirement options for personal retirement accounts that can either be deducted from your pretax gross income or automatically withdrawn from your post-tax net income account. Also, if you are self-employed you can take advantage of personal retirement strategies as well as self-empoyment retirement plans. Read the wealth education retirement books, then check with a online broker or financial planner to get setup with one of the following programs.

Traditional IRA
This retirement strategy allows you to contribute using pretax dollars from your gross income. Even though this account will grow tax free you will get taxed when you withdraw after retirement. Check with your company's HR department to see if they are willing to automatically contribute to a personal IRA retirement option.

Note: If you are qualified for a company retirment plan such as a 401k or 403b you may not be able to contribute to a traditional IRA "tax-free." Consult with your company's HR department and a financial planner or broker before setting up a traditional IRA.

Roth IRA:
This retirement stategy uses after tax contributions from your net income. You can setup online accounts or have financial planner set this up to automatically contribute a certain amount every month. The maximum amount for this retirement option may vary from year to year and is also different depending on your age. Again, check with a broker or financial planner to check on contribution amounts and setup for automatic contributions.

Note: The Roth IRA comes out of your after tax dollars so it grows tax free and is not taxed after withdrawal.

SEP Retirement Plans:
These programs are for the Self-Employed.

This acts as a great retirement option for the self-employed. This retirement strategy can contribute pre-tax and/or post-tax dollars. You can also setup a personal IRA in addition to these to help increase retirement contributions.

Note: Check with a broker or financial planner to get the tax and legal details for these products.

HSA's (Health Savings Accounts):
These are excellent savings/investing accounts that can be setup in addition to a personal health insurance plan and act as a retirement option. You are allowed to contribute annually the amount of your deductable. The goal is to have as high of deductible as possible to decrease your monthly insurance premium and then contribute the deductable amount every year to the Health Savings Account. All of your medical expenses, prescriptions, and miscellaneous medical items can be purchased through this account. Over the years of contributing to the account and accruing interest, you should always be able to afford to take care of your health, and have plenty of medical savings to cover your retirment years by properly utilizing this health savings plan as a retirement strategy.

Note: Consult with a health insurance representative to get details on the HSA providers and local laws in your area .