Retirement may be a long way off for you – or it might be right around the corner. No matter how near or far it is, you’ve absolutely got to start saving for it now. However, saving for retirement isn’t what it used to be with the increase in cost of living and the instability of social security. You have to invest for your retirement, as opposed to saving for it!

Let’s start by taking a look at the retirement plan offered by your company. Once upon a time, these plans were quite sound. However, after the Enron upset and all that followed, people aren’t as secure in their company retirement plans anymore. If you choose not to invest in your company’s retirement plan, you do have other options.

First, you can invest in stocks, bonds, mutual funds, certificates of deposit, and money market accounts. You do not have to state to anybody that the returns on these investments are to be used for retirement. Just simply let your money grow overtime, and when certain investments reach their maturity, reinvest them and continue to let your money grow.

You can also open an Individual Retirement Account (IRA). IRA’s are quite popular because the money is not taxed until you withdraw the funds. You may also be able to deduct your IRA contributions from the taxes that you owe. An IRA can be opened at most banks. A ROTH IRA is a newer type of retirement account. With a Roth, you pay taxes on the money that you are investing in your account, but when you cash out, no federal taxes are owed. Roth IRA’s can also be opened at a financial institution.

Another popular type of retirement account is the 401(k). 401(k’s) are typically offered through employers, but you may be able to open a 401(k) on your own. You should speak with a financial planner or accountant to help you with this. The Keogh plan is another type of IRA that is suitable for self employed people. Self-employed small business owners may also be interested in Simplified Employee Pension Plans (SEP). This is another type of Keogh plan that people typically find easier to administer than a regular Keogh plan.

Whichever retirement investment you choose, just make sure you choose one! Again, do not depend on social security, company retirement plans, or even an inheritance that may or may not come through! Take care of your financial future by investing in it today.

When searching and sifting through copious amounts of confusing and conflicting information concerning financial retirement savings and plans it is quite likely that you have come across the term 401(k). You may have wondered if that was the newest robot in the Star Wars saga but the truth of the matter is that it is a type of retirement savings plans that is designed so that employees and employers alike can contribute to a fund that is set aside for your future retirement.

Many people invest pretax earnings into their 401(k) funds, which they then have the option to invest in mutual funds of many options. You will find these mutual funds in a wide array of choices from money market accounts to very aggressive and risky stock portfolios. If you work for one of the many companies across the country that offers the option of a 401(k) plan you would be literally robbing your future self not to take advantage of this offering.

There are 3 general types of contributions to 401(k) plans: matching contributions, elective contributions, and non-elective contributions.

Matching contributions are very nice from the standpoint of the employee as the employer matches a predetermined amount of the funds invested by the employee towards this fund. Different companies will offer different amounts for their matching contributions. If your company will match up to a certain percentage of what you invest into your 401 (k) you should take them up on their offer. This is money that will benefit you later in life and should not be thrown away without a darn good for doing so.

An elective contribution is money that you invest before taxes are taken out of your salary. This means that you aren’t paying income taxes on these funds at today’s rate of taxation. Many people believe this is a good plan because the assumption is that you will be in a lower tax bracket upon retirement though there are no guarantees that that will be true. This money is money that you have elected to invest in your 401 (k) plan, rather than bring home in the form of salary, thus the name of elective contribution.

Non-elective contributions are money that employer deposits into your account. In most cases you cannot opt to take this money as cash rather than an investment in your 401 (k) plan.

There are limitations for how much you can invest into your 401 (k) plan on a given year. You should check with the IRS to get the actual numbers as they have changed over time and are likely to continue doing so as the cost of living increases across the country. Once you reach the age of 50 you are allowed to make extra contributions to your plan in order to ‘catch up’ and better prepare for retirement.

When studying your options for retirement financial planning you should carefully consider taking your employer up on any type of assistance they offer in this endeavor. If they offer to match the funds you invest in your retirement you can bet that money has already been deducted in their calculations of your salary. In other words, they are giving you the money you’ve earned in a different manner. The good news is that when the time comes to retire you will be able to appreciate every dollar that has been invested along the way.

We could never hope to simply save the money that we will need in order to retire. Even investments are tricky for the vast majority of the population. For this reason, it is a wise investment plan to take advantage of any opportunity to increase your funds by employers matching your contributions. Take the maximum benefit they will match and if you are seriously worried about your financial future more than your current financial situations, invest the maximum allowable amount each year in your 401 (k) plan.

This may be a good choice for you – especially if you are keen to maintain intellectual stimulation; you like a challenge AND you have expert knowledge in some subject or another.

For most people contemplating retirement, or early retirement, the main concern is money; however, far from thinking of putting your feet up, there are other and better ways to supplement your investments or pension.

Like many of us, you would probably be keen to supplement your personal pension income. If you enjoy mental stimulation or need to have a sense of purpose you’ll be less concerned that without a job you lose a large part of your identity.

You can read the rets of this article at Active Retirement May Be Your Answer

Downsizing doesn’t have to mean moving. It can mean living in fewer rooms in your current home, or it can mean cleaning out some of the clutter that has accumulated over the years. In fact, cleaning out the clutter can help you live in fewer rooms. Look, really look, around your basement, attic, and closets with a fresh eye. How much sporting equipment is still taking up space when the last time you used it was 10 years ago? A kayak, a canoe, water skis, snow skis and poles? Bowling balls and shoes? You probably loved those sports at one time, but if you no longer use those items, consider them a source of income. You can list sporting goods and exercise equipment on Craigslist or in classified ads and get good money for them. What a deal–clean out your closets and make money too!

It doesn’t have to be just big items that help you downsize. Do you still have some of your professional wardrobe? How often do you wear those clothes now? If they are still stylish, consider sending them to a consignment shop. They must be clean and in good condition, but when the item sells, you get a percentage of the profits. There are also stores that take jewelry on consignment, or if you have jewelry of gold or sterling silver, you can sell that for the precious metal content. Of course, you won’t get nearly as much as selling it intact, but it’s better than gathering dust in your drawers, especially if it’s broken or mismatched.

Speaking of drawers, how many old pairs of eyeglasses do you have? You might be surprised, once you start looking. Although I don’t know of any way to make money from them, you can donate them to Lions Club International or to Sunglass Hut, who both distribute them internationally to people in need. And they’ll be out of your drawers!

Electronics take up increasing amounts of space in our homes, and recycling those items not only cleans out your closets, but also salvages precious metals and prevents heavy metal pollution. You can try selling such items on Craigslist, or some retailers will help find a charity, school, or public agency that needs your old computer, laptop, printer, peripherals, or software. Donations with receipts are good tax deductions. Dell will accept its own product back for recycling, and you can even go to the website to get free shipping. Each week, it seems that another major retailer begins advertising that it will accept electronics for recycle, so keep your eyes and ears open for opportunities to recycle.

What else do you have that you no longer need and would like to get rid of? Do you have large furniture items that are filled with “stuff?” What fills the bureau or dresser in your guest room? Outdated clothing? Craft projects begun but never finished? Toys that grandchildren have outgrown? Office supplies for some business, now long abandoned? Clean them out! Sell the “stuff” or give it to charity. When the drawers or shelves are empty, you might even want to sell the furniture. Downsize your clutter and make some money!

Copyright 2009, Linda Manley

Linda Manley, a retired university research director, writes website articles on topics that interest her, such as retiring in warm places, staying fit and healthy, and saving money while doing both. You can find more of her articles at http://www.GreatRetirementPlaces.com

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You can make money online with ANY legitimate business IF you have the right tools and IF you know how to use those tools!

If you have a skill or specialist knowledge to offer, the drive to do something with it, the time to invest and the health to support your ambition, then you have the basis of a business that can bring real retirement benefits, allow you to make the most of your investment income, and above all continuing career satisfaction.

You probably haven’t given it much thought but you could build an online business based upon what you know. You’ve amassed a great deal of knowledge from your work experience, your hobbies, passions, or past-times. Think about the website you’re looking at now; this all comes from my specialist knowledge and a set of tools called Site Build It that removes any need for technical knowledge – you could do it too, and if you let me I’ll show you.

Needless to say I’m only recommending something that I know works; I had no web-site building skills yet I’ve been able to put this together in a very short space of time – you could do it too!

I’m going to give you a few ideas that show you exactly what is possible if you know your subject matter. And if you’re really motivated you can build a solid business with interest and intellectual stimulation that provides information to others who can benefit from your knowledge, whilst creating extra income for you and your family. You never have to sell a product or service; you can build upon this foundation of information. It’s your choice, depending on your skills, inclination, and time availability.

But if you do like the idea of selling a service; perhaps using your knowledge as a Consultant, you could offer a service related to your particular niche. Since every service revolves around a theme you could build a client base, whether clients are local (e.g. business consulting, or organizing children’s birthday parties) or global (e.g. assessing the value of antiquarian books or travel services). Or you could start a completely new service business — what do you know or do, that is of value to others?

This is how you can start to build an ever-growing client base until you can say… “I’m sorry… I’m not taking new clients”. And with it additional income.

Just like me, before getting too involved you’d probably want to see what other people like you and I have done, and perhaps get some good ideas for yourself take a look at
these results of real people, hundreds of them.

You’ve also probably got lots of questions and want answers? Just try this for phone/chat/e-mail to ask a question.

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