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Planning for Retirement

Retirement savings is an important consideration at every stage of your life.    Whether you are just embarking on a career, moving up the corporate ladder or planning your send off party.

This page provides an overview of important retirement considerations.

1.   How much do you need to save? 
You should be able to live comfortably on about 80% of your pre-retirement income.   To calculate your retirement needs, you must consider the rate of inflation, rate of return and number of years until you retire.  

2. Which investments will help you achieve your goals?
Two popular retirement vehicles are IRA's and 401(k) plans.   Both plans offer the opportunity for abundant savings, but you should consider their differences carefully before you invest.

  • An IRA is self-directed and may be diversified and spread over a variety of investments (I.e. mutual funds, equities, and bonds).   Money Concepts offers choices in Traditional IRAs to suit your needs as well as  Roth IRA's for investors who want to protect their saving for beneficiaries.  
  • A 401(k) is governed by your employer, with some self-direction allowed.   Please speak with your benefits administrator to understand disbursement options.

3. How can you get the most from your savings after retirement?
A sound "withdrawal strategy" can help you minimize taxes and penalties on your retirement savings.   When you start saving, choose your withdrawal options with care  (you might not be able to change them later) .   Early retirement, lump-sum payments from employer plans, and required minimum withdrawals associated with some financial plans require know-how and planning to ensure that you maximize your return.

A Money Concept Investment Broker can help you establish your goals, explore investment options to meet those goals, and discuss post-retirement finances.

Investments Are Not FDIC Insured
May Lose Value
No Bank or Credit Union Guarantee
Independent Contractor of Money Concepts International, Inc.
All securities through Money Concepts Capital Crop. Member FINRA/SIPC
11440 North Jog Road, Palm Beach Gardens, FL 33418 Tel: 561.472.2000
Copyright 2009, First Farmers Bank
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