BCG_SOCIAL-IMAGES_RETIREMENT-PLAN_AH_V01

  Roth IRA Traditional IRA 10% penalty for withdrawals prior to age 59½ Yes** Yes** Tax-deductible contributions No Yes*** Tax-deferred accumulation Yes Yes Tax-free distribution Yes No Mandatory minimum withdrawals requiredto start at age 70½ No Yes   *Withdrawals after age 59½ may be taxable if the Roth IRA has not existed for at least five years. Penalty-free withdrawals can be taken due to death or disability, and for qualified first-time home purchases. **Early withdrawals

Read more

BCG_SOCIAL-IMAGES_RETIREMENT-PLAN_AH_V02

If you are in your twenties, you may think it’s too early to start planning for your retirement. Be assured, it’s never too early. Following are a few tips to consider in planning to feather your nest and nurture your nest egg. 1) Calculate your monthly expenditures and your income. This should include medical costs, transportation costs, and installment payments, as well as household bills and credit card bills. 2) Consider allocating a portion of

Read more