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TOPIC: Retirement Planning

Retirement Planning 1 month 3 days ago #1

  • fireme
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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?

Retirement Planning 4 weeks 2 hours ago #2

  • Perplexed
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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.

Retirement Planning 3 weeks 6 days ago #3

  • Snowy
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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.
Last Edit: 3 weeks 6 days ago by Snowy.

Retirement Planning 3 weeks 2 days ago #4

  • fireme
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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.