If you’re in your 50’s, retirement is probably right around the corner. During this time it’s critical to make the right financial decisions to achieve your retirement goals. Joe and Al break down 9 financial tips to help you enjoy a rich retirement, whether you’re a late bloomer or you’ve been saving up money for years.
Find out how to build wealth now and for the future.
5:27 “When you turn 70 ½ and you have retirement accounts, there’s a mandate that you have to take a certain percentage out of the account per year, and each year as you age that percent increases…when you have multiple accounts you have to be careful”
8:55 “A Roth IRA does not have a required distribution; but if you have a Roth 401(k), the Roth 401(k) does have a required distribution”
11:28 “There is no age limit for a Roth IRA contribution”
13:30 “Income limits could prevent you from contributing so here are the new rules for 2016”
20:01 “What’s happening now, especially with a lot of Baby Boomers is a lot of them are working longer than they want to work…in other cases people are having to reduce their lifestyle”
22:19 “Here are some quick steps to build wealth in your 50’s”
28:38 “22 percent are very confident they will have enough money in retirement according to the Employee Benefit Research Institute’s annual retirement confidence survey”
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