Your Challenge: Where Should You Be?
Planning for Retirement.
It’s just like planning a vacation. You ask yourself “What am I going to need when I get there?” You need to plan ahead.
You may be able to count on the government, your employer, an inheritance, or some other source to fund a portion of your retirement. Social Security alone cannot be counted on to completely fund your retirement. The ultimate responsibility is yours.
However, for most people, your employer sponsored retirement plan offers an opportunity to save money on a tax favorable basis, while potentially reducing your current taxable income.
You defer taxes on this money - and on the interest or earnings - until you withdraw it, usually at retirement, at a lower tax bracket.
Where Do I Begin?
The two most important decisions you will make about your retirement plan are:
First time retirement savers may want to consider the savings guidelines above in order to replace either 60%, 80%, or 100% of their income at retirement. Others, with money saved already for retirement may login at www.ingham.com and choose the Tools/Retirement Calculator.
The questionnaire below can help you answer these questions.