one of the plans you should consider right now is anIndividual Retirement Account (IRA). For many retirement savers, a Discover®IRA Certificate of Deposit (CD) or DiscoverIRA Savings Accountmay be the right solution. An IRA can be vital to your retirement financial future. Financial planners...
Lauren Lyons Cole
Charley Ellis performed a study in his book,Falling Short: The Coming Retirement Crisis and What to Do About It, that looks at how you can use these variables to your advantage, especially if you’re behind on your retirement savings. Ellis assumes you need to replace 75% of pre-retirement...
While you have less flexibility in choosing what to invest in and when to withdraw, a pension can help reduce longevity risk, or the risk of outliving your savings, because, in most cases, the employer must pay you the predefined amount in retirement until the day you or your beneficiary ...
Saving money regularly in a savings account can help you make progress toward a number of goals, such as a down payment on a home or a secure retirement. A savings account can also serve as your emergency fund when unexpected expenses like home repairs or medical bills pop up. Different t...
you invest. But if you’re able to set your money aside for 5 years or more, investing in funds or shares has the potential to make your money work harder than than it would in a savings account.Setting aside money you're not going to need for years, such as your retirement savings...
With the demands of life and family, many people are unable to store up nest eggs in tradition savings accounts and must rely fully on the availability of retirement benefits after ceasing a regular work schedule. Since the fate of some state-run retirement programs, such as Social Security, ...
If you're saving for retirement, a designated retirement account (like an IRA) makes sense. But if you're saving for a down payment on a home, it makes more sense to choose a high-yield savings account or a CD instead.The bottom line...
Registered Retirement Savings Plan vs. 401(k) Despite their basic similarities, RRSPs and 401(k)s have differences too: RRSPs may be set up via a financial institution; 401(k)s are typically set up by employers (with the exception of thesolo 401(k)). ...
IRAs are retirement savings accounts that offer tax advantages. They work a bit like a 401(k) but don’t require an employer to sponsor them. There are several types of IRAs: traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs. ...