elanoramenna's Space http://elanoramenna.posterous.com Most recent posts at elanoramenna's Space posterous.com Tue, 11 Dec 2012 00:20:42 -0800 How To Plan Your Retirement http://elanoramenna.posterous.com/how-to-plan-your-retirement http://elanoramenna.posterous.com/how-to-plan-your-retirement

Planning for your retirement is always good. Its advisable to start early, but no time is a bad time, especially when we are talking of retirement plans. By starting early, you give yourself a fair amount of time to evaluate your options before investing. Its surprising, if only somewhat, that a majority of the worlds population doesnt plan their retirement at all.

Where should you start? Start with a plan. When you start with a goal in mind, its always helpful. It not only gives you a sense of direction but you also know how to do what you want to do. Devising a plan will mean you need to know your retirement needs.

On an average, you will need at least seventy percent of your current salary but that can differ based on the lifestyle you lead right now. By starting early, this is another advantage you get. You can easily know where you want to be so that you can actually go and meet that goal.

There are numerous tax benefits of putting money into an Individual Retirement Account, commonly known as an IRA. You can get in touch with a financial adviser to know more about the tax benefits, and how they apply to you. You should also look for other options, options that most people dont consider.

What are those? Self directed real estate IRA can be a good example. I wouldnt be surprised if most people dont even know that theres such an option for them. IRAs, as opposed to what many think, can include real estate and other types of assets. Its something that you can look into, if you want to. For more information about self direct real estate IRA, tap here.

Having said that, if its not something you know a lot about, the risks get significantly higher. Of course, it would help you to have an understanding of how it all works, but a financial adviser can help too. It may not sound easy, and it may even be frustrating, at the start but it will become easier and ultimately, it will benefit you.

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