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SAVING FOR RETIREMENT

SAVING FOR RETIREMENT. Adam Breister Taylor Montgomery Luke Sebald Maggie Smith.

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SAVING FOR RETIREMENT

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  1. SAVING FOR RETIREMENT Adam Breister Taylor Montgomery Luke Sebald Maggie Smith

  2. “A growing percentage of middle-class Americans say they have saved so little for retirement that they expect to work into their 80s or even until they either get too sick or die, according to a recent survey.” - CNN MONEY

  3. Nearly half of middle-class workers said they are not confident that they will be able to save enough to retire comfortably, according to a Wells Fargo survey of 1,000 workers between the ages of 25 and 75, with household incomes between $25,000 and $100,000. -Melanie Hicken

  4. According to Boomers and Retirement, a new survey by TD Ameritrade, the average Baby Boomer is about a half-million dollars short on retirement savings.And 74% of Boomers in the survey say they will have to rely heavily on Social Security in retirement. (The average Social Security check, by the way, is $1,230 a month.) - USA TODAY

  5. “Saving early is key! I’m telling you, starting to save early in life is one of the best things you can do for yourself” JENNI RIEDEMAN FINANCIAL ADVISOR RJFS

  6. TRADITIONAL & ROTH IRAs • MUTUAL FUNDS & STOCKS • COMPOUND INTEREST (ACTIVITY) • 401K • PENSION • SOCIAL SECURITY OVERVIEW

  7. 1974 – EMPLOYEE RETIREMENT INCOME SECURITY ACT • PROVIDED TAX ADVANTAGE RETIREMENT PLAN TO EMPLOYEES WITH NO PENSION • PERSERVED RETIREMENT ASSESTS AT EMPLOYEE TERMINATION OR LAY-OFF • BECAME UNIVERSALLY AVAILABLE IN 1981 HISTORY OF TRADITIONAL IRA

  8. EARNED INCOME – NO INCOME RESTRICTIONS • UNDER 70 ½ • NO MORE THAN $5500 A YEAR UNDER 50 • TAX DEDUCTIBLE • TAXES PAID ON EARNINGS WHEN WITHDRAWN • START TAKING OUT AT 59 ½ • MUST START TAKING OUT BY 70 ½ TRADITIONAL IRA

  9. HISTORY OR ROTH IRA

  10. ROTH IRA

  11. MUTUAL FUNDS

  12. COMPOUND INTEREST Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. Compound interest can be thought of as “interest on interest,” and will make a deposit or loan grow at a faster rate than simple interest, which is interest calculated only on the principal amount. - INVESTOPEDIA

  13. ACTIVITY

  14. 401K

  15. TO SAVE!!!!!!

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