Early Bird Gets the Worm: Planning for Retirement in Your Twenties

Thinking about the time when you give up work can never start too early. When you’ve just hit twenty and you’ve been given your first job, thinking about the end of your career is the furthest thing from your mind. Contemplating the end, however, will allow you to take a proactive role in planning for retirement. And maybe allow you to be a grooving granny with cash to burn.

How to go about planning for your retirement

There are certain points that you will need to consider when implementing a plan to cover yourself later in life.

Firstly, before you … Read more at 2009 Tax.

Dealing with Social Security Uncertainty

Recent reports published in Daily Finance suggest that the Social Security trust fund is going to begin its collapse around the year 2036. This means that you have about 24 years to adjust your planning and savings to compensate for this problem. This really is adequate time for most people to figure out how to make up the difference between what Social Security promises and what it will be able to deliver.

Tip #1 – Understand the Predictions

Before you panic you need to understand what the predictions about the Social Security trust fund are and how they will impact … Read more at 2009 Tax.

Using Your 401k to Start a Business

Starting your own business allows you flexibility and control of your financial future.  While the thought of writing yourself a check from 401k funds to start a business may sound easy, there are several steps to consider while thoroughly reviewing the process.  There are tax penalties to understand and if your business doesn’t pan out as well as you had hoped, you could lose more than your retirement funds.

The use of additional resources such as a financial planner or a retirement plan administrator will help you review options.  You may have the option to roll over 401k funds into … Read more at 2009 Tax.