If you’re curious about how to maximize your cash influx during retirement, Assets offers a guide to understanding different sources of income in the golden years.
You know retirement planning is important - but if you're like many people, you might not be sure where to start!
Wondering what your options are in terms of having a regular source of income once you're no longer working?
The financial experts at Assets are here to help!
The company's retirement planning guide includes advice regarding IRAs, 401(k) plans, required minimum distributions (RMDs), tax rollovers, annuities, and Social Security benefits.
Check it out at https://assets.net/what-counts-as-income-in-retirement-exploring-your-options
No matter how old you are or where you're at right now in your career, the guide helps you understand more of the income possibilities available to you during your golden years, including defined benefit and contribution plans.
A recent report from CNBC shows that 55% of American citizens lack a comprehensive strategy for retirement, and many are not aware of the different sources of income in later life that may be available to them. The guide from Assets discusses various ways you can accumulate funds and offers tips for creating a robust retirement portfolio. “While the idea of no longer having to wake up and go to work each day can be liberating, it also presents unique financial challenges as you transition away from a paycheck,” says a spokesperson. “We aim to give you the tools you need so you can effectively plan for your future and ensure you have enough money to live comfortably when it comes time to hang up your hat at your job.”
You'll find an explanation of how you can contribute to different types of retirement plans throughout your career, such as an IRA or 401(k), as well as the required minimum distribution regulations that determine how much money must be withdrawn annually from these accounts after you retire.
The guide also looks at tax-exempt exchanges of funds, also known as rollovers, in which you take resources from a certified retirement annual income account and transfer it into a different investment vehicle within two months, thereby reducing your taxes and penalties.
Retirement annuities and their advantages for providing you with a steady, post-work stream of income are covered, along with a discussion of the various annuity types, including immediate or deferred options.
In addition, the guide examines the role of Social Security benefits as part of retirement income planning, with practical advice on how you should choose when to apply, as this decision can affect the total amount paid out over time.
Start making the most of your retirement income opportunities now with the experts at Assets!
Learn more at https://assets.net
