If we all could do life over again, retirement planning would be among the top financial “do overs” of most baby boomers. Here’s the big retirement recommendation, pay yourself first and pay it into a retirement plan. If your employer offers partial or full contribution match in their qualified plan, contribute up to the match. Take the tax savings from the contribution deduction and fund a non-qualified annuity.
When you’re young, you have time in invest in the market. But time can’t be the ultimate determining factor. Your risk tolerance profile needs to be established for market investing like in mutual funds or ETFs.
And if you still have monthly cash flow, you may want to consider a non-modified endowment life insurance contract designed with the lowest death benefit to accumulate the most cash values which has the potential at retirement to generate tax free income (under present law) as long as the contract is kept in force for the life of the insured.
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When you’re young, you have time in invest in the market. But time can’t be the ultimate determining factor. Your risk tolerance profile needs to be established for market investing like in mutual funds or ETFs.
And if you still have monthly cash flow, you may want to consider a non-modified endowment life insurance contract designed with the lowest death benefit to accumulate the most cash values which has the potential at retirement to generate tax free income (under present law) as long as the contract is kept in force for the life of the insured.