A key component in this plan is having the money to live an enjoyable life. But picking the right retirement plan can be confusing. In this post, we aim to simplify things and help you make a more informed choice.
Do you have a set age in mind at which you want to retire? Are you just going to wait until you are in line for full Social Security benefits? Or are you going to make a decision based on your asset level and what that means for your retirement status?
The advantage of accumulating after-tax assets in a retirement account is that when they are distributed, the amounts will be tax- and penalty-free. However, this benefit is realized only if the necessary steps are taken.