Many of my clients ask my advice regarding their retirement plans and benefits. Though I am not a financial adviser and as such never make recommendations regarding specific financial/investment options (I do work with many very qualified financial professionals and I do love to make referrals so if you are in the need of a financial adviser in Connecticut please let me know), as an attorney I do work very closely with clients and there retirement plans. Here are 5 mistakes to avoid regarding your retirement assets.
1. Not understanding your options when you leave a company.
2. Improper or outdated beneficiary designations.
3. Not understanding the beneficiary's distribution options.
4. Not taking the required minimum distribution from an IRA when you reach age 70 1/2.
5. Not having enough money saved for your retirement.
All of these mistakes can be avoided with a little knowledge. The information you need is available through qualified financial professionals.
Number five almost always leads to neglect of one through four - wouldn't you say?
Posted by: | October 21, 2008 at 09:35 AM
Most of them in the late 30's and have about 65k in there retirement plan. Most company match is 4%, but most people invest 10% at this time. Most of them have done that age thing and yes the 60 something was in all stocks. However, recently changed my allocations to mostly bonds. Most of them was wondering If we made a mistake and should all change this back? Can anyone share their opinion in it.
http://retiredebtfreeandhappy.com/
Posted by: retiredebtfree01 | November 07, 2008 at 03:28 AM
its primerica a good sourse to start a retirement plan?
Posted by: heidi martinez | December 18, 2008 at 05:18 PM
Thanks for sharing such a Information. This is very helpful.
Rose.
Posted by: Planning a Retirement | December 19, 2008 at 05:23 AM