8 retirement tips to a comfortable retirement
TRANSCRIPT
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To a Comfortab le Ret i rement
Ret i rement P lann ing
8 Retirement Practices
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Dmitriy Fomichenko
President & FounderSense Financial Services LLCwww.SenseFinancial.com
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Choose a retirement plan carefully.1When choosing a retirement plan, make sure that the plan structure and features align with your retirement goals.
IRA Up to $6,500 in 2016
401k Up to $24,000 in 2016
Solo 401k Up to $59,000 in 2016
Contribution Limits
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2 Always get a 401k match
Fund your 401k at least to the point where you bag the maximum matching dollars. Every employer uses a different contribution method but a 6% match is quite common.
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It’s wise to increase your contributions in proportion with the inflation.
Use bonuses and pay raises towards maximizing your contributions.
3 Increase contributions as you age
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Catch-up contributions of up to $1,000 in 2016
Traditional IRA 401k Plan
Don’t miss catch-up contributions4Catch-up contributions of up to $6,000 in 2016
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Don’t go with the default savings rate
5When joining a new position, make sure to increase your 401k savings rate from the default 3%. Aim for 10% savings and revise your annual savings rate accordingly.
“Save your money. You’re going to need twice as much moneyin your old age as you think.”
~ Michael Caine
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Add diversification to your retirement savings with a Roth 401k.
Make post-tax contributions and enjoy tax-free withdrawals during retirements*.
6 Choose a Roth 401k for after-tax contributions
* Provided you satisfy certain IRS regulations
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Gain investment freedom with self-directed retirement plan
• Real estate• Mortgage Notes• Tax liens/tax deeds• Private equity• Private lending
Choose alternative assets with a self-directed retirement
plan.
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Find out the qualified
distribution age for different
retirement plans.
Know more about the IRS penalties
Make sure to take required
minimum distributions to
avoid IRS penalties
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I recommend Solo 401k with Sense Financial to everyone I talk to. The returns I have made in 6 months beat what I made for the past 3 years in my company 401k plan! If you have the opportunity to switch to a Solo plan, take advantage of it NOW!
Renee A. Westerville, OH
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LEARN MOREwww.SenseFinancial.com(949) 228 - 9394