Retirement Planning

  • Posts 242

fireme created the topic: Retirement Planning

I already know my own personal answer to this question, but I want to hear others' opinions before I state mine.

What would be the most foolproof way to financially plan out your retirement?

#1
  • Posts 224

Perplexed replied the topic: Retirement Planning

In order to plan out your retirement in the most sensible fashion would be to employ several financial vehicles that would bring you the most return in the long run. IRA's or 401K's are excellent ways to put money aside for the future. Investing in variable annuities, bonds and the stock market can yield substantial returns but need to be closely watched and studied over the course of years to make sure that the profits outweigh the losses for a viable retirement income.

#2
  • Posts 209

Snowy replied the topic: Retirement Planning

In keeping with what Perplexed said, I maintain a diversified portfolio. We have an IRA, mutual funds, stocks, and bonds. Unfortunately, my husband's company doesn't currently offer a 401K, but if they ever do, we'll invest in that, too.

#3
  • Posts 242

fireme replied the topic: Retirement Planning

Snowy wrote: Unfortunately, my husband's company doesn't currently offer a 401K, but if they ever do, we'll invest in that, too.


You can always self-invest, you don't have to wait for an employer to start that ball rolling. Most 401k providers that companies use have self-directing options.

Someone told me once that planning for retirement is next to impossible since we don't know exactly when we'll pass away. You can save to keep yourself good for 20 years, but if you live longer than that you become a financial burden on others.

Planning your own end may not sound personally sensible, but it does make financial sense.

#4
  • Posts 138

Zara replied the topic: Retirement Planning

My answer is simple and effective but not many people would have the discipline for it. Just put aside 10 percent of whatever you make every week or month and invest it wisely. That's it. And when you stop working, just keep doing this with the money you get from your investments and you will never run out. Rather leave money behind for those you love than be short and become a burden on them.

#5