Investent Management & Financial Planning
Dear {FIRST_NAME},
The person most interested in your having a comfortable retirement is you. If you don't
start saving for retirement early, or start
saving at all, retirement may be a distant
dream.
1. Don't Leave Money On the Table. If your employer offers a retirement plan and they match part of your contributions, make sure you participate and contribute all that you can to, at a minimum, capture the full match.Retirement vs. College Savings: Overcoming the Funding Conundrum
2. Got a Raise? Put that raise to good use by increasing your contributions into a retirement plan. Sure it's nice to have extra cash to spend on fun things, but it's even nicer to be able to retire with money and dignity. The last thing you want is to have to decrease your standard of living at retirement, or to have to keep working unitl you're 80 because you didn't save. If you are counting on Social Security to head into your golden years, dream on. In the event it's still around when you retire, it will not cover many of your expenses.3. Make Your Own Retirement Plan. If your employer does not offer a retirement plan there are other options. Open a deductible IRA or a Roth IRA. These tax favorable accounts can do wonders for your wealth creation strategy. You have until April 15, 2008 to make your 2007 contributions.
4. Self Employed? No excuses. You can open a SEP IRA, SIMPLE IRA, Keogh or a Solo 401(K). These accounts provide you with great flexibility as far as the types of investments you can own and you can put away a significant amount of money.
5. Non Working Spouse? Most people don't know that if you are a non working spouse, you can make a deductible IRA contribution as long as the working spouse has enough earned income to cover the contribution and the couple files a joint tax return. This can be very beneficial especially to parents that take time off work to care for children. They don't have to miss out on their own retirement savings.
Click here to learn about IRA and other retirement plan limits and restrictions.
Life is a constant juggling act. Every day we juggle tasks, time, people, and goals. This is especially true when it comes to balancing financial goals, whereby time is not the scarce resource, but money is. The future can seem especially daunting for young families balancing retirement funding goals and college planning for children. When a dollar can only stretch so far, how can you effectively plan for both?
Click here for full article
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News And Events
02/29/2008 Cathy will be a panelist at Florida
International University's Women Who Lead
Conference.
03/27/2008 Cathy Pareto will be a panelist for the US World Series on Exchange Traded Funds.
Wealth Building Strategies Blog
http://cathypareto.blogspot.com/
Cathy Pareto, MBA, CFP®, AIF®
Contact US
Cathy Pareto & Associates.
2332 Galiano Street,
Second Floor
Coral Gables, FL 33134
Tel: 305-728-7234
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Cathy Pareto & Associates, Inc.- Investment Management and Financial Planning
Tel: (305) 728-7234 info@cathypareto.com
http://www.cathypareto.com/