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financial strength
retirement savings plan
individual retirement account
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Financial Strength For Your Future
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Financial Strength For Your Future

Financial health. Financial strength. The two go hand in hand. Are you financially healthy? Financially strong? In order to be both you must plan for your financial future. You must create and manage some type of investment that will provide for that future. Social Security. In the past, it was something you could count on as part of a healthy and strong financial future. There is no guarantee that Social Security will be a part of your financial future anymore. As is the case for so many Americans, investing in their own future and not relying on the government to do so, is now a financial requirement. The Roth IRA and 401k's both provide a low-risk, tax-friendly way to invest for retirement.

The Roth IRA-The Roth IRA is an Individual Retirement Account that was established in recent years and is an alternative to the traditional IRA. This alternate type of IRA was created by Delaware Senator William Roth and is different from the traditional IRA. The Roth IRA differs from a traditional IRA in one very significant way: tax benefits. The biggest tax benefit that the Roth presents is the ability to withdraw your earnings tax free when retirement rolls around. The earnings you withdraw on a Traditional IRA are taxed. Whereas, you will contribute money to either IRA in the same manner, the manner in which you receive your distrubitions from a Roth IRA is different of that of a traditional IRA. The distribution will not be taxed.

401(k)'s-There isn't a better way to prepare for your retirement than by simply going to work every day.If the company you work for offers a 401(k), you should participate in it. A 401(k) is a retirement savings plan that allows an employee of a company to save for retirement and have the savings invested to earn interest. Every time you receive a paycheck, a contribution can be made to this account. In addition, in a lot of cases, your employer will also contribute a percentage of your paycheck to the account. Typically an independant investment firm will manage these accounts. The tax benefit on this type of account is this. The total amount you contribute each year is decucted from you income and grows tax-free until you use it for retirement.

Here's to a healthy and strong financial future! If you prepare for that future now by creating your retirement income in your 401(k) and starting a Roth IRA, you are on the the path to just that.


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