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.
Now that we are working adults, retirement, like waiting for adulthood, may seem far off into the future but looking back we can see it came all too fast. Below are a couple thought-starters on what your best retirement could look like.
Before parents tell their kids how they should plan for the future, they should be prepared with solid advice—advice they’ve incorporated into their own financial planning, regardless of which life stage they’re in.