10 best retirement plans designed for you

Working endlessly for your company as you strive to take it to greater heights while also trying to maintain a proper bank balance is hard work. However, this isn’t it. You also have to think about your life after retirement. And that’s not an easy task. Since you cannot rely on a single plan and need options, below we provide you with the 10 best retirement plans that will serve you in many ways:

1. Pensions: This is an option that’s more popular among the government employees than corporate employees, but it’s still one of the most preferred options among the 10 best retirement plans.

2. Defined Contribution Plans: In this, your investments are naturally deducted from your paycheck, so you don’t need to keep track of your savings, though there are limitations.

3. Roth IRAs: Roth IRAs are exceptionally useful for young retirement savers, regardless of whether they approach business supported arrangements or not.

4. Traditional IRAs: People who don’t have a lot of retirement time left can avail this option.

5. SEP IRAs: In the event that you have a better than average pay per annum, or you don’t have a considerable measure of duty derivations, you can make use of this plan to cut down on your expenses.

6. Nonqualified Deferred Contribution Plans: Often referred to as the rich man’s Roth, this is a better option for those who find IRAs unsuitable.

7. Guaranteed Income Annuities: You can get your payment issued monthly, quarterly or yearly as desired after retirement.

8. Cash Value Life Insurance Plan: You can take a loan against this plan after retirement.

9. Social Security: About 25% of people can make use of social security after retirement.

10. Real Estate: To the people who are 50 and above and haven’t saved anything yet for their retirement, real estate is a great option.

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