Do you want a simple retirement plan you can implement easily as an independent contractor or small business owner? A SIMPLE IRA plan gives you a tax break, while giving you and your employees a way to build retirement savings.
If you don’t leave behind an estate plan, your family could face major legal issues and (possibly) bitter disputes; making the plan may leave you with the comfort of knowing that your wishes will be carried out, when the time comes.
TransUnion recently surveyed baby boomers and discovered that nearly half thought their credit scores would become less important after they turned 70. A high credit score can help you buy and borrow long after your working days are done.
You know how much retirement money you have. Other factors aren’t as foreseeable. You don’t know exactly how long you will live, so you can’t predict your lifetime Social Security payout. You may even end up returning to work again.
Insurance matters more in retirement planning than you may think. It is seldom “top of mind” in retirement planning conversations, but the right coverage could help you maintain some financial equilibrium in the face of sudden money pressures.