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Planning Your Retirement Perfectly

VIEWS: 33 PAGES: 3

Retirement planning is very important, especially for salaried professionals. Starting early is preferable but it’s not a requirement; even if you are a few years down, start right now. Starting early gives you the time to look at your options, and save judiciously. It sounds surprising but the fact is that a majority of the world’s population doesn’t plan for their retirement at all.

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									       Retirement
      Planning Tips




IRA                   Page 1
Planning for your retirement is always good. Starting early is preferable but it’s
                                 not a requirement; even if you are a few years
                                 down, start right now. By starting early, you give
                                 yourself a fair amount of time to evaluate your
                                 options before investing. It sounds surprising
                                 but the fact is that a majority of the world’s
                                 population doesn’t plan for their retirement at
                                 all.

                                 What’s the starting point? Make a plan, first of
                                 all. Having a goal in mind always helps. It’s
                                 recommended no matter what you do. You
                                 know where you want to go and how to go
about it. The retirement plan needs to figure in the retirement needs of yours.

Though your particular needs may differ, you will need anywhere near 70-80% of
the amount you earn currently. 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.

Other than this, there are a number of tax benefits of an IRA (Individual
Retirement Account). A financial adviser can come in handy in a situation like this.
Get in touch with one to know about the tax benefits applicable to you. It would
also help you if you were able to look beyond what most people do.

What does that mean? Self directed real estate IRA, for example, is something
most people don’t take into
account. I wouldn’t be very
surprised if the option isn’t known
to people here. IRAs, as opposed
to what many think, can include
real estate and other types of
assets. It would be worthwhile to
look into something like that.

You also have to figure in the risks
of treading into an unknown area,
something you don’t really know

IRA                                                                           Page 2
      about. In such cases, an expert can really help you. You should
      also try and understand how things work yourself. 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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