| When you picture your dream life for retirement | | | | early is so important to success. |
| you probably envision yourself doing the things | | | | The two retirement investment options |
| you love and don't currently have time for. This | | | | mentioned above, 401k and IRA, are very similar |
| may include pursuing the arts, playing golf all day, | | | | choices but also fairly different in some key ways. |
| or traveling the world. If you want to achieve | | | | A 401k is set up through a benefit program |
| these things you need to make them happen by | | | | offered by your employer. These accounts have |
| planning now to live well later. Retirement | | | | some unique benefits, like a contribution match |
| investment options need to be a big part of this | | | | from your employer (this varies from employer |
| to make your dreams a reality. | | | | to employer) and high maximum contribution limits |
| Starting a retirement savings vehicle account, like | | | | which change on a yearly basis. An IRA, or |
| a 401k or an IRA, is a great way to get yourself | | | | independent retirement account, is set up |
| investing in a way that will help you succeed. | | | | independently. You are responsible for finding a |
| These accounts work by taking the money you | | | | company to start your account with, and the |
| save and investing it in a variety of ways, such | | | | biggest advantage to this option is how much |
| as stocks, mutual funds, even CDs--all with | | | | control you'll have over the account. You have a |
| varying levels of risk and returns--that you | | | | lot more options for investments, basic account |
| choose and then earn you returns over the | | | | choices, and more. |
| years. When you reach retirement age (59 years | | | | There is no straight answer as to which of these |
| and 6 months old) you can start making | | | | retirement investment options will work best for |
| withdrawals and living on this money you've saved | | | | planning now to live well later, you'll need to look |
| and earned over the years. | | | | at your goals and the choices and decide which |
| The younger you are when you put money into | | | | one of these, or a mixture of both, works best |
| the account the more time it will have to be | | | | for you. |
| invested and grow, which is a big reason saving | | | | |