Top 3 Ways of Saving for Retirement

If you are thinking about ways of saving for retirement, there are many strategies that you might consider. Here are some of the top ways to save for retirement.

1. IRA

Putting your retirement money into an IRA is one of the best ways that you can possibly save for retirement. By using an IRA, the money that you contribute will be deducted from your taxable income at the end of the year. This allows you to put away more money than you would normally be able to. The money that you gain from your investments will also be allowed to grow tax-free within the account.

2. 401k

Another option that you might want to consider is the 401k. With this type of retirement account, you will be able to put away as much as $16,500 per year to your retirement. You will also be able to benefit from matching contributions from your employer. This means that you will essentially be getting free money for your retirement.

3. Roth IRA

Another popular way to save for retirement is by using a Roth IRA. A Roth IRA is very similar to a traditional IRA except in the way that the taxes are handled. You will fund a Roth IRA with after-tax money and then you will never have to worry about paying taxes on the money in the future.

blog comments powered by Disqus