If you haven’t planned for retirement yet, you need to get started. The longer you wait, the harder it’ll be to maintain your lifestyle after you leave the workforce.
If you are a young adult, you might not be thinking about retirement. You might feel you have plenty of time to plan. But years can go by quickly, and before you know it, retirement will be right around the corner. If your employer offers a 401(k) plan, you owe it to yourself to enroll once you’re eligible. If this plan isn't an option, or if you're self-employed, consider opening an individual retirement account (IRA).
Find Answers to Your Questions About IRAs
GOBankingRates is a trusted source for personal finance information, and if you need financial planning guidance and tips on retirement planning, you can find everything you need on GOBankingRates. Common questions about retirement accounts that GOBankingRates answers in its content include:
- What are individual retirement accounts?
- What are the different types of IRAs?
- How much can I contribute to my individual retirement account?
Include IRAs in Your Long-Term Financial Plan
Some people don't plan well in advance, and after retiring from their full-time jobs, they have to seek part-time work. Some remain in the workforce longer than anticipated. The cost of living typically increases with time, so the sooner you start planning for retirement the better. Browse GOBankingRates for articles about IRAs and expert advice about financial planning.
If you have questions related to personal finance topics, such as budgeting, paying off debt, saving money or getting a loan, this site is your one-stop source to help you stay in control of your money.