What Is The Best Retirement Plan?

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Doing some intense research recently I have found that the average individual does not have a retirement plan, does not have a personal IRA or does not get actively involved in their companies 401k plan.  I started asking around to people of all ages and income averages, an interesting yet vital question of:  What is the best retirement plan for your needs, and do you have a retirement plan already established?  thUP23AEUC

The majority of answers consisted of, “I don’t have any extra money to put away right now”, and “no I do not have a retirement plan set up”. Or here is another response I always hear, “yeah, I’ll get around to it”.

A number of surveys I have come across show that the majority of individuals have very little money put away for retirement years. And sad but true many do not know how to go about figuring out what type of income they will need in retirement, or even what their income stream will consist of.

I discovered some interesting or  scary money issue statistics  on retirement that you need to be aware of … do you fall within any of these categories? ( remember it all depends on what your situation right now).

Lack of retirement money issues:

  • over 50% of low income individuals will not be able to maintain the “modest/daily routine” lifestyle when heading into retirement
  • amazingly over one third of individuals have no retirement source setup
  • over 30 percent of retirees will not be able to cover their basic needs, and those who can will have nothing left to survive on for the month
  • 75 percent of workers nearing retirement will have less than $30,000 in their 401 k.
  • unfortunately employees are tapping into their 401k accounts and employer pension programs to use for bumps they hit in the road now
  • the major roadblocks in saving for retirement is a shortage of monthly income
  • the cost of living, and that dreaded topic of bills that smother us and demand priorities is a huge problem
  • people are depending on social security to be there when they do retire and to cover all of their needs (it was not meant to cover all of your needs in retirement)
  • even  into retirement age, almost 50 percent of retirees admit that they have debt issues unresolved, which puts more of a burden for those golden years.
  • getting and staying debt free is of the upmost importance to when it comes to handling your money properly.
  •  those who are behind in saving for retirement will probably have to continue working.  Stay with your job as long as you can, find a different job that will carry you into your later years, or start your own business
  • if you can, delay taking social security until the age of 70, which is the age you can get full benefits.
  • those over the age of 40 should at best make it their ultimate effort to save at least 20 percent of their income or more to get caught up.
  • the majority of people do not have a monthly budget plan set up

How to start on your road to retirement:th

  • Imagine yourself retiring today, you stop going to work, you have plans of things to do and places to go. Figure out what you will need money wise, what has to be paid, how you health is, what your income streams are, and how you will live.
  • Your biggest issue today should consist of planning out your retirement and placing it in the top of your priority list.
  • Of course you can definitely make adjustments but getting started and keeping your plans in order is a major accomplishment that you most certainly can take control of.
  • Find a good mentor to follow!! How many times do you have to hear that?
  • How much do you need to save for retirement?  That all depends on how you want to live out your retirement years, the standard that you are use to…the same routine, above your present standards throwing in extra expenses such as travel, spending more money,  or falling into the poverty level, where you are just scraping by.
  • By a general rule most people will need 70 to 80 percent of their normal salary to maintain a standard of living that they are accustom to. For example if your annual income is $60,000 you should have $42,000 a year that you can depend on. Actually the more you have the better.   th86D2F3OI

The answer seems easy, getting people more knowledgeable about retirement issues and educating them on understanding their own personal financial plans. Yet getting people motivated and knocking some sense into their heads could be a mountain to climb.

So the final answer when asking the question, What Is The Best Retirement Plan,the answer lies within yourself.  It can only be what you do for yourself and how much you commit to your future.


Being the average person, you just have to realize that the future and your fate is in your own hands. Do you want to stay the average person or would you rather soar? Get started, find a good mentor or financial advisor, gain as much knowledge as you can, design your own plan or get help. Remember it is your future, design it to fit your needs, or find yourself struggling in misery during your retirement days.

Do something good for yourself today, never stop learning….Angela

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  1. Marcus

    I think it’s a great shame that a lot of people work very hard when they are younger, then when they get old enough to retire, they no longer have their health. You’ve worked all those years, then when you can finally stop working, you don’t have the energy to fully enjoy it. That’s how it seems to me. That’s certainly true for my dad, who can’t do many of the things he used to do when he was younger.

    Do you think people can easily turn things around and make their retirement more comfortable?

    1. Angela

      hey marcus thanks for your remarks about your dad and everyone in general. People need to realize that if they physically can no longer do a job then the mentality has to come in to play. It is so true that if you don’t keep your brain sharp then you start losing it. With having your own business, using your brain will keep you younger and more mentally alert.

      Come back and visit often.



  2. Marion

    This is a beautiful website on the topic of a retirement plan. There is a lot of information and definitely it is a website that requires time to discover everything. I my opinion it covers everything you need to know about your finances and also leads you to find a new hobby. There are a lot of websites about earning money on the side, yet yours is very explicit and honest, Good luck, Marion

    1. Angela

      Hello Marion, thanks for your honest opionion!

      I try my best to give average everyday people the opportunity to find quality material for their situation.

      I will continue to offer legitimate and quality items, because I see a need for people who do not have any type of retirement set up.

      Never stop learning….Angela


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