- Tax Planning
- Investments 1: Before you Invest
- Investments 2: Your Investment Plan
- Investments 3: Securities Market Basics
- Investments 4: Bond Basics
- Investments 5: Stock Basics
- Investments 6: Mutual Fund Basics
- Investments 7: Building Your Portfolio
- Investments 8: Picking Financial Assets
- Investments 9: Portfolio Rebalancing and Reporting
- Retirement 1: Basics
- Retirement 2: Social Security
- Retirement 3: Employer Qualified Plans
- Retirement 4: Individual and Small Business Plans
- Estate Planning Basics
Introduction
Employment situations differ from person to person: not everyone works for a large company. Nevertheless, whether you work for a large company, a small company, or you are self-employed, you still need to plan for retirement. This section will discuss your third priority regarding money when saving for retirement: individual retirement accounts. This section will also explain how you can plan for retirement if you work for a small company or are self-employed. Even if you already have a qualified retirement plan with your company, you may still be eligible to contribute to an individual retirement plan and save even more for your retirement goals. The key is to understand the retirement vehicles available to you and understand how you can utilize these vehicles to help you achieve your goals the fastest.
When you have completed this section, you should be able to do the following:
- Describe individual retirement accounts.
- Explain when it is beneficial to convert a traditional IRA to a Roth IRA.
- Describe retirement plans designed for small businesses and individuals who are self-employed.
Understanding individual and small-business retirement plans is an important part of retirement planning.
