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Retirement Planning (7 Steps to Retirement (4) Calculate Inflation…
Retirement Planning
Social Security
Eligibility
Benefits
Survivor
Disability
Aspects
1.45% of Total Income goes to Medicaid [No Cap]
6.2% of $127,000 goes to Social Security
Mandatory
Plans for Self Employed
Keogh Plan
Simplified Employee Pension Plan [SEP-IRA]
Personal Savings Contributions
Individual Retirement Accounts [IRA]
Roth
IRA
529/Education
IRA
Traditional
IRA
7 Steps to Retirement
4)
Calculate Inflation-Adjusted Shortfall
5)
Calculate Funds Needed to Overcome Shortfall
3)
Estimate Retirement Income Available
6)
Determine Annual Savings between Now-->Retirement
2)
Estimate Need for Goals
Implement the Plan
1)
Set Goals
Employer Contributions
ERISA
What
is it?
Exemptions
Pension Plan
Defined Benefits
Defined Contribution
Terms
Unfunded
Vesting Period
Employer Sponsored Plans
401 (k) Plans
What
is it?
Types of 401 (k)
Safe Harbor
SIMPLE
Traditional
Automatic Enrollment
403 (b) Plans
Defined Contribution