Having a company 401k is a beautiful thing. A company match is the biggest way to get a free return on your retirement savings. But don’t let a company sponsored retirement plan to be the end all be all to your future savings. When it comes to your financial future, I’m a big believer in having multiple sources. IRA’s, taxable brokerage accounts, real estate. There are many ways you can put your money to work.
Working at a company for 40 years and having a retirement plan coupled with social security might lead to a decent retirement future. Decent is not what I’m seeking and neither should you. You need your company retirement savings plan, but you also need an IRA, and other investments to fund an excellent life during your golden years.
The following article presents additional ways to save for those future years. It is possible to save too little, but you can never save too much. Check out ways to expand your retirement portfolio and ensure you make the choices now for a great financial future.
Budget Smart, Invest Wise
What if you have no retirement fund? Do you have ideas to help people on a small fixed income explore how they can change that picture to be able to retire?
If you do not currently have a retirement fund, then I would suggest beginning one as soon as possible if you plan on retiring one day. Even if you think you will always work it is better to be safe then sorry. Your future savings doesn’t HAVE to be in a retirement fund, but the tax advantages do make it an incentive to have them. Begin saving a portion of your income every month regardless how small. Develop an action plan and stick to it.