Will you be able to afford to stop working at some point? On average, today's 65-year-old man will live 18 more years (to 83), while the average woman can expect to live about 20 years more (to 85). Are you putting away enough to retire? SecondAct's Take Charge Financial Independence Guide helps you save your way, every day, at every age.Find yourself here:
Your career is rolling and perhaps you're just starting a family. You're thinking about buying a house and probably dealing with some credit card debt. Now is the time to start saving for retirement.
Your income should be rising, and your net worth is growing. If you've got kids, you're trying to save for college and your retirement as well. But your retirement should come first.
You tend to be at the peak earning years in your career. You're paying down debt. Your children may be finishing up school or moving away from home. It's time to take a hard look at where you are--and where you're going.
401(k): A retirement plan that lets employees save tax-deferred income. Some employers match employee contributions. Distributions are taxed.
Bridge job: Part- or full-time employment after leaving a career but before retiring completely.
RMD: Required minimum distribution, which is the minimum amount owners of IRAs and other qualified plans must withdraw each year when they turn 70 ½.
Roth IRA: An individual retirement account. Contributions are not tax-deductible, but distributions are tax-free.
Traditional IRA: A tax-deferred individual retirement account. Distributions are taxed.