“From well-known options, like IRAs and 401(k)s, to more obscure ones, like Cash Balance Pension Plans or Rich people Roths, these accounts can help you to grow your savings.”
Most people work at a company that offers them a way to contribute to a retirement account, usually an IRA. However, there are more options available, according to a recent article from Forbes titled “10 Retirement Accounts You Should Know About.”
Few of us need less money in our retirement accounts. Most of us enjoy the tax benefits we get from retirement accounts. Americans, in general, do a terrible job of saving for retirement. Some say the IRA, Roth IRA and other similar accounts were created to give us an incentive to do a better job. The tax advantages of these accounts make it more attractive to sock away money every year. These accounts were also set up with deliberate penalties, so people wouldn’t raid their accounts every time they needed a few extra dollars.
If you are among those who work for companies that have a retirement savings plan match, make the most out of it. If you put in the annual percentage or amount your plan requires, your employer will match that contribution. Most workers walk away from this money. However, it’s free money!
Employees usually are offered a 401(k), 403(b) or 457 plan from their employer. The financial institution is already chosen, the money is automatically taken out of your paycheck and often you can only make decisions about what kind of funds you can select at certain times of the year. In 2018, you can contribute up to $18,500. If you’re 50+, you can make an additional $6,000 contribution, known as a catch-up contribution.
Self-employed? You need a retirement plan more than someone who works for a company. Self-employed people have many more options. If you need help, talk to your CPA. There may be some plans that are better suited or have more tax advantages than others.
For self-employed people, the basic choices are the solo 401(k) for a sole proprietor or someone working with their spouse. You can make contributions as both the employer and the employee. You could contribute as much as $55,000 in 2018 (or, if you are 50+, $61,000). Your total contributions are determined by your net business income.
Another choice for retirement savings for the self-employed is a SEP IRA, the Simplified Employee Pension. It’s easier to set up than a 401(k)and is typically used by people with self-employment income or small business owners. As the employer, you can contribute up to a quarter of your income, or $55,000, or whichever is less. There are no catch-up contributions for a SEP IRA.
Self-employed or working for a company, your retirement plan needs to include an estate plan. Your estate planning attorney will be able to help you with a will, power of attorney and healthcare directive. She will also be able to give you valuable insights, as to how your retirement plan and your estate plan can work together to minimize taxes and maximize the estate you leave behind.
Resource: Forbes July 23, 2018 “10 Retirement Accounts You Should Know About”
“從眾所周知的選項，如IRA和401（k），到比較少人知的選項，像現金餘額養老金計劃 (Cash Balance Pension Plans)或富人Roth，這些帳戶可以幫助您增加儲蓄。”
大多數人在一家公司工作，為他們提供的退休賬戶方式，通常是IRA。但是，根據福布斯最近發表的一篇文章，有更多的選擇 “10 Retirement Accounts You Should Know About.”( 你應該知道的10個退休賬戶)
大部分人都是覺得退休賬戶的錢不夠用。我們大多數人都喜歡從退休賬戶中獲得的稅收優惠。總的來說，美國人並不擅長為退休儲蓄。有人說IRA，Roth IRA和其他類似的賬戶是為了激勵我們做得更好。這些賬戶的稅收優惠使得每年存錢都更具吸引力。這些帳戶是有懲罰條款的，因此人們不會在每次需要額外的錢時使用他們的帳戶。
如果你是那些為退休儲蓄計劃匹配的公司工作的人，請充分利用它。如果你在計劃存入所需的年度百分比或金額，你的雇主將與該存款相匹配。大多數工人都忽略了這筆錢。但是，這錢是免費的！
員工通常會從雇主處獲得401（k），403（b）或457計劃。雇主已經選擇了金融機構，這筆錢會自動從你的薪水中扣除，而且你通常只能決定在一年中的某些時候可以選擇投資在那些基金。在2018年，你可以貢獻高達18,500美元。如果你是50歲以上，你可以額外支付6,000美元的存款，稱為追加捐款(catch-up contribution)。
自僱？你比一般受僱人士更需要退休計劃。自僱人士有更多選擇。如果你需要幫助，請諮詢你的註冊會計師。可能有一些計劃比其他計劃更適合或有更多稅收優惠。
對於自僱人士，不管是單獨經營者或與其配偶一起工作的人的基本選擇是獨自401（k）。您可以同時以雇主和僱員的身分存錢。你可以在2018年貢獻多達55,000美元（或者，如果你是50歲以上，61,000美元）。你的總捐款由您的營業收入決定。
自僱人士退休儲蓄的另一個選擇是SEP IRA，即簡化員工退休金 (Simplified Employee Pension)。設置比401（k）更容易，並且通常由自僱人士的收入或小企業主要使用。作為雇主，你可以提供高達四分之一的收入，或55,000美元，或比較哪個方法需要較少錢。SEP IRA沒有追加捐款。
自僱人士或為公司工作的人，退休計劃需要包括資產計劃。你的資產規劃律師將幫助你完成遺囑，授權書和醫療保健指令。她還能夠為你提供有價值的見解，了解你的退休計劃和你的資產計劃如何共同努力以最大限度地減少稅收並最大化地留下你的遺產。
參考: Forbes July 23, 2018 “10 Retirement Accounts You Should Know About”