Financial experts recently estimated that a middle-class worker will need to replace 81% of their current annual income to maintain their lifestyle in retirement—and don’t forget to foctor in the ever-increasing cost of inflation. If you think Social Security and traditional pension benefits will meet your needs, think again. Generally Social Security will provide just 51% of your retirement needs, meaning you’ll need to make up the remaining 49%. And those numbers vary by incoming. The more you earn, the less Social Security may provide. That’s why you need to take advantage of every asset-building opportunity available to you—such as Traditional and Roth IRAs. (Source: usnews.com). For further information regarding your retirement plan options click here.
A Foresters Equity representative or investment advisor representative can help you choose which IRA is right for you. In addition, they can provide guidance on selecting assets within your current 401(k) as well as assisting you in transitioning assets from workplace retirement plans.
Your Foresters Equity professional is available to help you develop a long-term plan for cultivating assets that will serve you in your retirement years.