Retirement - Rathbun - pg. 1 Samantha Rathbun Macro...

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Rathbun - pg. 1 Samantha Rathbun Macro Economics – 1pm Retirement November 14, 2007 In a society focused on getting out of debt, we forget to save for our future. Retirement isn’t necessarily the first thing on the mind of the working individual that is just trying to get by. We can look to the government and hope that our hard earned social security dollars will carry us through our retirement. When is it exactly that you should begin thinking about your retirement. Normally when thinking of retirement you see and think of an old couple in someplace warm, playing shuffleboard. The downfall to social security is that it was meant as a little extra income to your savings, not your entire retirement. In all actuality, the moment that you step out of college you should be planning what you would like to do when you retire and how you are going to achieve that financial conquest. Planning your retirement early is a necessity to secure a stable financial future. (Price) There are many benefits to consider by planning retirement early. By investing your money early in tax deferred vehicles your money can grow far greater than if you were to invest it with taxes. (Slesnick and Suttle, 2/3) By investing at a younger age with large contributions your money can accumulate far greater that if you were to invest ten years before retiring. (Peterson, 32) There are many different types of retirement plans out there that can be found confusing if not explained properly. The four basic types of retirement plans include qualified plans, Individual Retirement Accounts (IRA), Almost-qualified plans, and non qualified plans. A qualified plan is a normal plan that is provided by an employer to
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Retirement - Rathbun - pg. 1 Samantha Rathbun Macro...

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