You can no longer follow the age-old traditional advice of putting all your assets into bonds, CDs and cash, which are more conservative. You have to keep investing actively and you have to diversify, or you’ll be forced to work beyond retirement. You must take retirement planning seriously and build some wealth while you are still young.

If you start early and are consistent about contributing, you can develop a tremendous amount of wealth. Young people in particular have the opportunity to in… Continue

No matter what your age, you should always make your annual contribution to your IRA by the deadline of April 15th of the following year. If you have available funds, you should also make your current yearly contribution early to get maximum growth before the end of the year.

If you haven’t already, you should also consider converting to a Roth IRA to get started on tax-free growth. Unlike a regular IRA, with a ROTH you don’t have to take the money out when you reach 70 ½, there’s no required m… Continue

How do you triple your retirement contributions? If you are self-employed, you can open a Solo K and contribute three times more per year than you can in an IRA. A Solo K also has no income cap.

Anyone who is self-employed or a sole proprietor is eligible for a Solo-K. It’s much better than a SEP IRA in that it allows you to put up to $15,500 away ($20,500 if you’re over 50) each year that will grow tax free for life. It’s an incredible opportunity that only became available in January 2006. If… Continue

The good news is: we are all going to live a long life. The bad news is: we are going to live too long. How will you have enough money saved to afford to live? Current life expectancy is 86, and continues to climb. The reality is if you retire at age 65, how can you be sure you’ll have enough to continue your lifestyle for the rest of your life?

The fact is, in 20 years, your dollar will be worth 45 cents. In January of this year inflation was 1%. If that continues, it will destroy a lot of peo… Continue

A self directed IRA is no different than any other IRA, except that you as the owner direct the custodian to make the investments on your behalf. You select the investment. You can work with advisors, planners, or anybody you choose to make the selection buy YOU must decide what to invest in. In other words, they tell you if its legal but you decide if its a good investment.

There are only three assets that you can invest in through a self directed IRA. These include collectables such as stamps… Continue