What is your best advice to saving for retirement (besides 401K)?

Answer 1

It depends upon your current age, if you're in 30's better invest 70% of your savings in Stocks, Mutual Funds and the rest 30% in bank deposits, if you're 40's invest 60% in Stocks and 40% in bank deposits and if you're in 50's+ invest 30% in stocks and 70% in bank deposits .. that will be very much safe for your retirement life..

Answer 2

the quicker you start up, the richer you would be! once you're nevertheless in college, evaluate coming up a habit that in case you retain on with, will make you right into a millionaire or extra advantageous via "midsection age": faux you purely make $450 a week, and locate the thank you to 'handle', ie supply your self a 10% pay cut back. make investments that $50 in a vast inventory marketplace mutual fund with low expenses, and do this each and each week inspite of what the marketplace does. enable's anticipate you're 18 now: the main conservative estimates could turn that $50/week into over 0.5-a-million via "midsection-age", and that's assuming you on no account have been given a boost! The extra life like subject could get you on the fringe of a million.

Answer 3

You said the magic work "savings". Every time you get paid, put something away even if it's only $15.00 per pay. Once you get use to it, then you can add 1 or 2 dollars after that. It might not be much, but it's a start. You can also have more federal tax taken out of your pay so you'll get a larger refund. Of course, some folks might say that's stupid, but it worked for my wife and I for 35 years.

Answer 4

Start early; try to save 10% of your income every year...but invest wisely.

Answer 5

Roth IRA

Answer 6

Get a "Roth IRA".