Hello all! Have you done your taxes yet? I haven't and need to get them done soon myself. It's not something that I look forward to every year but I guess it needs to be done. Are you aware of the gigantic difference in savings when you invest in a tax deferred product vs. a taxed investment vehicle? We are talking $1 million dollars! If you would like to learn more please feel free to come to one of my free upcoming Money 101 events in your area.
6:30 pm
Temecula: Money 101
6:30 pm
Torrance: Money 101
6:30 pm
San Marcos: Money 101
12:00 pm
Money 101 Lunch & Learn: San Marcos
6:30 pm
Irvine: Money 101
6:30 pm
San Diego: Money 101
You can RSVP and get more information on Facebook or at www.FiveRingsEducation.com. Our Wine Women and Wealth dates have been announced too for April.
April 9th- 7-9pm- Carlsbad- Relm Wine Bar
April 10th- 7-9pm- Redondo Beach-Total Wine & More
April 11th- 5:30-7:30pm- Irvine- Wine Styles
April 16th- 7-9pm- Old Town SD-Hacienda de las Rosas
April 18th- 7-9pm- Temecula- The Wine Company
April 23rd- 5:30-7:30- Sorrento Valley – Hera Hub
April 25th- 7-9 pm- Rancho Bernardo –Bernardo Winery
More locations coming soon!
Hope to see you there!
Showing posts with label 10 Tips on How to Prepare for Retirement. Show all posts
Showing posts with label 10 Tips on How to Prepare for Retirement. Show all posts
Saturday, March 31, 2012
Friday, November 13, 2009
10 Tips on How to Prepare for Retirement
10 Tips on How to Prepare for Retirement
By THE ASSOCIATED PRESS
The average American spends 20 years in retirement -- and far too little time preparing for it financially.
Here are some basic tips on retirement planning, as compiled by the U.S. Department of Labor:
1. KNOW YOUR RETIREMENT NEEDS. Experts estimate you'll need about 70 percent of your pre-retirement income -- lower earners, 90 percent or more -- to maintain your standard of living when you stop working. Calculate what you'll need. Check the Labor Department guide to savings fitness on its Web site at http://www.dol.gov/ebsa/pdf/savingsfitness.pdf.
2. FIND OUT ABOUT YOUR SOCIAL SECURITY BENEFITS. Social Security pays the average retiree about 40 percent of pre-retirement earnings. Call the Social Security Administration at 1-800-772-1213 for a free Social Security statement and find out more about your benefits at www.socialsecurity.gov.
3. LEARN ABOUT YOUR EMPLOYER'S PENSION OR PROFIT-SHARING PLAN. If your employer offers a plan, check to see what your benefit is worth. Before you change jobs, find out what will happen to your pension. Learn what benefits you may have from previous employment. Find out if you will be entitled to benefits from your spouse's plan.
4. CONTRIBUTE TO A TAX-SHELTERED SAVINGS PLAN. If your employer offers a tax-sheltered savings plan such as a 401(k), sign up and contribute all you can. Your taxes will be lower, your company may kick in more and automatic deductions make it easy.
5. ASK YOUR EMPLOYER TO START A PLAN. If your employer doesn't offer a retirement plan, suggest that it start one.
6. PUT YOUR MONEY INTO AN INDIVIDUAL RETIREMENT ACCOUNT. You can put up to $5,000 a year into an Individual Retirement Account (IRA) and gain tax advantages. If you're over 50, you put an extra $1,000 into your account in what's known as a catch-up contribution.
7. DON'T TOUCH YOUR SAVINGS. Don't dip into your retirement savings. You'll lose principal and interest, and you may lose tax benefits. If you change jobs, roll over your savings directly into an IRA or your new employer's retirement plan.
8. START NOW, SET GOALS, AND STICK TO THEM. Make retirement savings a high priority. The sooner you start saving, the more time your money has to grow. Devise a plan, stick to it, and set goals for yourself.
9. CONSIDER BASIC INVESTMENT PRINCIPLES. How you save can be as important as how much you save. Inflation and the type of investments you make play important roles in how much you'll have saved at retirement. Know how your pension or savings plan is invested. Financial security and knowledge go hand in hand.
10. ASK QUESTIONS. Talk to your employer, your bank, your union or a financial adviser to get more information about retirement planning. Get practical advice and act now.
By THE ASSOCIATED PRESS
The average American spends 20 years in retirement -- and far too little time preparing for it financially.
Here are some basic tips on retirement planning, as compiled by the U.S. Department of Labor:
1. KNOW YOUR RETIREMENT NEEDS. Experts estimate you'll need about 70 percent of your pre-retirement income -- lower earners, 90 percent or more -- to maintain your standard of living when you stop working. Calculate what you'll need. Check the Labor Department guide to savings fitness on its Web site at http://www.dol.gov/ebsa/pdf/savingsfitness.pdf.
2. FIND OUT ABOUT YOUR SOCIAL SECURITY BENEFITS. Social Security pays the average retiree about 40 percent of pre-retirement earnings. Call the Social Security Administration at 1-800-772-1213 for a free Social Security statement and find out more about your benefits at www.socialsecurity.gov.
3. LEARN ABOUT YOUR EMPLOYER'S PENSION OR PROFIT-SHARING PLAN. If your employer offers a plan, check to see what your benefit is worth. Before you change jobs, find out what will happen to your pension. Learn what benefits you may have from previous employment. Find out if you will be entitled to benefits from your spouse's plan.
4. CONTRIBUTE TO A TAX-SHELTERED SAVINGS PLAN. If your employer offers a tax-sheltered savings plan such as a 401(k), sign up and contribute all you can. Your taxes will be lower, your company may kick in more and automatic deductions make it easy.
5. ASK YOUR EMPLOYER TO START A PLAN. If your employer doesn't offer a retirement plan, suggest that it start one.
6. PUT YOUR MONEY INTO AN INDIVIDUAL RETIREMENT ACCOUNT. You can put up to $5,000 a year into an Individual Retirement Account (IRA) and gain tax advantages. If you're over 50, you put an extra $1,000 into your account in what's known as a catch-up contribution.
7. DON'T TOUCH YOUR SAVINGS. Don't dip into your retirement savings. You'll lose principal and interest, and you may lose tax benefits. If you change jobs, roll over your savings directly into an IRA or your new employer's retirement plan.
8. START NOW, SET GOALS, AND STICK TO THEM. Make retirement savings a high priority. The sooner you start saving, the more time your money has to grow. Devise a plan, stick to it, and set goals for yourself.
9. CONSIDER BASIC INVESTMENT PRINCIPLES. How you save can be as important as how much you save. Inflation and the type of investments you make play important roles in how much you'll have saved at retirement. Know how your pension or savings plan is invested. Financial security and knowledge go hand in hand.
10. ASK QUESTIONS. Talk to your employer, your bank, your union or a financial adviser to get more information about retirement planning. Get practical advice and act now.
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