Question : What are some of my effective option to prepare my retirement plan ?
I'm 27 years old and I would like to have advices on some effective investment options I have available to save it up retirement preferebly around age 65+
- asked by aliji
All Answers:
Answer #1
ok it depends on your risk tolerance. you are now27 you should start saving as soon as you could ifyour employer has a 401 k or a retierment plan hopon it and get the advantage of the employercontribution, stock have growth but it is morerisk than investing in money market again itdpends on your risk tolarence. throw some money ina roth IRA to get advantage of tax free growth (ifyou meet eligib. criteria). also diversfiy yourinvestment. as a general rule always have somecash on hand for emerg.
- answered by Link
Answer #2
First never put all your eggs in one basket. Keepyou investments spread over a number of fields.You best friend could be a Financial Planner, whowill work with you to find the best plan foryourself. You may pay for their knowledge, but itis worth it in the long run. Don't forget aboutSuper, join your work plan if they have one andwatch your money grow. And why wait till 65 toretired; you can do it at 60, 55, or even 50 ifyou plan for it.
- answered by The Old Salt
Answer #3
Absolutely utilize a 401K program of mutual fundswith as much as you can save. Hopefully this fundhas Roth 401K's in it. If it does not put thelimit per year into Roth IRA's . While in your401K balance the assets Stock funds, bond funds,and cash funds. While you are younger be a littleheavy on stocks 60% plus depending upon your risklevel but as you get over 55 start dropping that %stock to 50% or below. The ROTH Ira payout will be100% of your investment if you made good ones PLUSall of your interest and no TAXES -that is thegood bonus on the ROTH plus you can leave themoney in there even after 70 years old.
- answered by Brick
| 
measure and fulfill your financial needs
