Lets start by taking a look at the retirement plan offered by your company. Once upon a time, these plans were quite sound. However, after the Enron upset and all that followed, people are not as secure in their company retirement plans anymore. If you choose not to invest in your companys retirement plan, you do have other options.

First, you can invest in stocks, bonds, mutual funds, certificates of deposit, and money market accounts. You do not have to state to anybody that the returns on these investments are to be used for retirement. Just simply let your money grow overtime, and when certain investments reach their maturity, reinvest them and continue to let your money grow.

You can also open an Individual Retirement Account (IRA). IRAs are quite popular because the money is not taxed until you withdraw the funds. You may also be able to deduct your IRA contributions from the taxes that you owe. An IRA can be opened at most banks. A ROTH IRA is a newer type of retirement account. With a Roth, you pay taxes on the money that you are investing in your account, but when you cash out, no federal taxes are owed. Roth IRAs can also be opened at a financial institution.

Another popular type of retirement account is the 401(k). 401(ks) are typically offered through employers, but you may be able to open a 401(k) on your own. You should speak with a financial planner or accountant to help you with this. The Keogh plan is another type of IRA that is suitable for self employed people. Self-employed small business owners may also be interested in Simplified Employee Pension Plans (SEP). This is another type of Keogh plan that people typically find easier to administer than a regular Keogh plan.

Whichever retirement investment you choose, just make sure you choose one! Again, do not depend on social security, company retirement plans, or even an inheritance that may or may not come through! Take care of your financial future by investing in it today.

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IRA Mistake #1: Not Naming a Beneficiary

Upon opening an IRA, you are not required to name anyone as a beneficiary to the account. Even though this action is not required, it is highly recommended. If something happens to you and there is no beneficiary named for the account, it will end up in probate. This will be a long, drawn out process that will cost money that didn’t need to be spent. The money in the account will be disbursed over the remaining life expectancy of the deceased account holder. This is usually a shorter amount of time than the expectancy of a beneficiary. In short, this means that money will be disbursed faster which will place a very heavy tax burden on the person who is receiving the money, which is determined in probate.

Naming a beneficiary when you open the IRA account will eliminate this. You will then be absolutely sure where your remaining IRA account will go after your death. You can also determine how fast the funds will be distributed.

IRA Mistake #2: Forgetting the Deadline for IRA and Roth IRA Contributions

Don’t forget the core purpose of Roth IRA’s – to fund it as much as possible for retirement! Many people believe that the last day they can make a contribution is on December 31, of the last day of the year. This is not true! You may continue to contribute up to April 15 of the following year. IRA contributions are based on the tax year – not the calendar year, so don’t miss this extra time by assuming the end of the year means the end of contributions.

The best way to avoid this common mistake is to fund as much as you can early in the year. If you meet the maximum simple IRA contribution limit or Roth IRA contribution limit, you will not miss out on saving more money. The date of April 15 is referred to as an extended contribution deadline. These few extra months could make a huge difference for most savers in your IRA retirement account.

IRA Mistake #3: Not Knowing Spousal/Non-Spousal Inheritance Rules

There is a difference in the rules of inheritance that applies to spousal and non-spousal beneficiaries. If you are a spousal beneficiary, you have two options. You may roll the funds into an IRA that is already in your name, or you may change the name on the inherited account. After this is complete, the money will be viewed as if it were yours all along. Contribution and withdrawal rules will apply as if it were your own account.

Non-spousal inheritances work differently. You will not be able to roll the funds over to your personal IRA. You are also not allowed to make any contributions to the original IRA account.

IRA Mistake #4: Not Contributing Because of Stock Market Volatility

Due to the recent stock market meltdown, many people are questioning whether they should continue contributing to their IRAs. The answer is simple. Never stop contributing! Regardless of what the market is doing at any given time, you should take full advantage of the numerous benefits offered by an IRA retirement account. One of those benefits is a tax break. No matter what the state of the market is, you will continue to get tax breaks on all money contributed. If you are lucky enough to work for a company that will match your contribution, you make even more money with the account, as well as with the added tax breaks which will of course lead to IRA retirement income when it is time to spend it.

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It is powerful wealth building tool. When I heard about this from Roccy DeFrancesco, I was completely overwhelmed because I spent my lifetime looking for tax-advantaged products that are safe, legal, that you can use, with very little risk. You are not going to get this from your lawyer or your accountant. Your lawyer’s stock-in-trade answer is “possibly, maybe or I’ll look into it.” And even if he knows he’s not going to tell you because, traditionally, he works on both sides of the fence.

Your accountant and lawyer would typically not look to at any type of these products because he could become an IRS target. Whenever there is a criminal investigation, his papers would be the first thing they go after, summonses. I work with accountants and I teach them and this is their usual stance on the matter. I teach lawyers and accountants for credits. They’re generally intimidated. For the price of preparing your income tax return, they’re not going to look at these types of wealth-building tools. The wealth-building strategies of a Roth IRA on Roids are completely legal. You do not have to hide your money. You do not have to go offshore. You do not have to provide a lot of documentation, and you do not have to report your requirements to the feds.

With a Roth IRA on Roids the following basic information would be required: your age; how much money you wish to deposit into your account; when you wish to withdraw from the account. Based on this information, a specific financial chart can be drawn for you.

To summarize the main benefits of your Roth IRA on Roids: your money never goes backwards; you’ll be able to take your money out tax free; there is a guaranteed return. So let’s discuss how you can fund your account using other people’s money.

Roccy DeFrancesco’s wrote a book, “Home Equity Management.” The book is very well written. Roccy is a very meticulous guy and I have a lot of respect for him. The book describes how you can reposition your home equity. Let us look at your home equity for a moment. If you are in your home with a 95% mortgage, does your mortgage diminish the value’s home? The answer is, “No.” If your home is fully mortgaged it would not diminish the value. But, if you live in an area like California, with mud slides, or Florida with hurricanes and tornadoes and you own 100% of your home (i.e. not mortgaged) then whose problem would it be if your house slides down the hill or it goes under water? It would be your problem. On the other hand, if it’s heavily mortgaged, then it would not be your problem. It would be an insurance problem and it would be a mortgage company problem.

So what is the relation of your home equity with your Roth IRA on Roids? If you leverage your home equity and reposition it to fund your Roth IRA on Roids then, effectively, your money is sitting in your Roth IRA on Roids account and in investment opportunities and it’s safe. Real estate is the only leverageable asset class. Everybody understands that you buy real estate with 5% down, 10% down, depending on how well financed you are. It’s the only leverage that is recommended, people accept, people understand, the banks do it. So by repositioning your home equity in order for you to fund the Roth IRA on Roids, financially you are using other people’s money. And this could also be accomplished with commercial real estate. If you have equity in commercial real estate, refinancing it in order for you to reposition your assets definitely makes a lot of sense. At the end of the day, you still have the same assets. If you have equity in your home or commercial estate, that’s an asset. If you have equity in Roth on Roids, or other investment opportunities, together they are the same number. You’re just repositioning. You are relocating your assets. That’s all you’ve done.

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However, saving for retirement isn’t what it used to be with the increase in cost of living and the instability of social security. You have to invest for your retirement, as opposed to saving for it!

Let’s start by taking a look at the retirement plan offered by your company. Once upon a time, these plans were quite sound.

However, after the Enron upset and all that followed, people aren’t as secure in their company retirement plans anymore. If you choose not to invest in your company’s retirement plan, you do have other options.

First, you can invest in stocks, bonds, mutual funds, certificates of deposit, and money market accounts. You do not have to state to anybody that the returns on these investments are to be used for retirement. Just simply let your money grow overtime, and when certain investments reach their maturity, reinvest them and continue to let your money grow.

You can also open an Individual Retirement Account (IRA). IRA’s are quite popular because the money is not taxed until you withdraw the funds. You may also be able to deduct your IRA contributions from the taxes that you owe. An IRA can be opened at most banks.

A ROTH IRA is a newer type of retirement account. With a Roth, you pay taxes on the money that you are investing in your account, but when you cash out, no federal taxes are owed. Roth IRA’s can also be opened at a financial institution.

Another popular type of retirement account is the 401(k). 401(k’s) are typically offered through employers, but you may be able to open a 401(k) on your own. You should speak with a financial planner or accountant to help you with this.

The Keogh plan is another type of IRA that is suitable for self employed people. Self-employed small business owners may also be interested in Simplified Employee Pension Plans (SEP). This is another type of Keogh plan that people typically find easier to administer than a regular Keogh plan.

Whichever retirement investment you choose, just make sure you choose one! Again, do not depend on social security, company retirement plans, or even an inheritance that may or may not come through! Take care of your financial future by investing in it today.

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Introducing the Roth on Roids

So, exactly what is a Roth IRA on Roids? Developed by Estate Street Partners, it’s birth was a result of a seminar by Roccy DeFrancesco, who wrote a book called the Home Equity Management; essentially, this book is about repositioning your home equity so that you can buy a cash value life insurance, which in effect is a wealth building tool whereby you do not have contribution limits, nor do you have to have a job or earned income nor have age limitations. It grows income-tax free and the principle is guaranteed.

I was describing this to my son, and I was being very animated just like I found this great new tool. And as I am going through it, I am also telling him that the principle is guaranteed and you will never lose your money. You cannot do that with a Roth IRA or a traditional IRA. His comeback to me was, “Well, gee Dad, that sounds like a Roth IRA on steroids.” Well, I liked the idea so much that I am attempting to get the trademark for Roth on Roids.

The way to describe what Roth on Roids is as follows. A very simplistic way to describe it is like a bank account that you would put into a traditional bank, like a Bank of America only with a life insurance company so there is a death benefit. So again, it is like a bank account with an insurance company that has a death benefit. That’s the simplistic approach.

It is guaranteed and you will never lose your money. It has a guaranteed minimum return and a maximum return. It grows tax free, the longer you let it grow, the greater it grows. Unlike a bank account where you have an interest that you are going to pay income taxes on, life insurance companies don’t pay income taxes. So, when you buy their products, there are no taxes due. There are taxes on the premium, but the growth has no tax. For example, if you wanted the absolute safest way to keep your money some place, you go to a bank and get a safe deposit box. You can’t buy that kind of safety, because you can’t afford the price of the safe deposit box, and that type of security.

So, when you buy a Roth on Roids, it has cash value insurance for the sole purpose to accumulate the cash, not the death benefit. The death benefit is incidental because it has to have a component of it. But using the example that you are 45 years old, you contribute $20,000 a year for 5 years, $100,000 goes in, and you let it grow tax free. At 65, you begin to withdraw the money on the value of the policy, the cash value. If you die in year one after contributing the $20,000, you have a death benefit. The death benefit will be somewhere around $400,000-$500,000 depending on your specific health. If you die in year one, your family gets 4 or 5 hundred thousand as a death benefit. If you survive for 20 more years, you would get the benefit of 20 years of tax free growth.  In this case, you would borrow $30,000 a year over a twenty year period, that’s over $600,000 assuming a 30% tax bracket; in other words, you would have to gross earn at least $1,000,000 to receive that benefit.

Roth on Roids has no limits as to how much you can contribute. On the other hand, there is a limitation for the traditional IRA and the Roth IRA. Contributions for IRAs are $5,000 a year and $6,000 if you are over the age of 50. That’s not a lot of money.

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If you have such a thing, let s start by taking a look at your company retirement plan. Once upon a time, these plans used to be quite simple and mostly sound. However, after the Enron troubles and all that followed, people are not as secure in their company retirement plans anymore. Because of this quite a few people look elsewhere and if you choose not to invest in your company retirement plan, you do now have other options.

For example you can invest in: stocks, bonds, mutual funds, certificates of deposit, and money market accounts. Or if you are a bit more adventurous other less conventional options include: art and rare book collections, livestock such as thoroughbred horses and breeding pairs of rare and valuable animals, tree plantations, etc. You do not have to state to anybody that the returns on these investments are to be used for retirement. Just simply let your money grow over time, and when certain investments reach their maturity, reinvest them.

You can also open an Individual Retirement Account (IRA). This is quite a popular option because the money is not taxed until you withdraw the funds. You may also be able to deduct your IRA contributions from the taxes that you owe. An IRA can be opened at most banks. A ROTH IRA is a newer type of retirement account. With a Roth, you pay taxes on the money that you are investing in your account, but when you cash out, no federal taxes are owed. A Roth IRA can also be opened at a financial institution.

Another popular type of retirement account is the 401(k), these are typically offered through employers, but you may be able to open a 401(k) on your own. You should speak with a financial planner or accountant to help you with this. The Keogh plan is another type of IRA that is suitable for self employed people. Self-employed small business owners may also be interested in Simplified Employee Pension Plans (SEP) which is another type of Keogh plan that people typically find easier to administer than a regular Keogh plan.

Whichever way to decide to go for your retirement investment, just make sure you do at least choose one! Do not depend on social security, company retirement plans, or even an inheritance that may or may not come through! Take care of your financial future by investing in it today.

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An IRA retirement account is a great way to have control over what stocks are being invested in. The owner of the account has the power of decision regarding what stocks to buy and how much to contribute. Currently, the stock market is a bear market, and until the bulls arrive, the best thing to do is use funds from a cash reserve. Financial advisors suggest avoiding any sales of stocks. The vice-president of Charles Schwab & Co. suggests that each investor should have at least 5 years’ worth of spending money in available financial accounts. During the first year, cash deposits and mutual funds should be used. Following that year, long-term certificates of deposit and short-term bonds should be used.

If you are still in the work force, take part of your paycheck and place it into a liquid account. Continue making contributions to your traditional IRA accounts, as well as any other retirement accounts you may hold. This includes Traditional IRA retirement accounts and Roth IRA accounts. If you are retired and are using your retirement savings to live on, the best thing to do is place mutual fund distributions into a money-market fund. This is the best alternative to reinvesting.

Home Equity & Line of Credit Investments

If you do not want to dip into your accounts, a home-equity loan is a great way to get some emergency funds. It may be difficult to get a line of credit due to the falling home values, but your lender may approve the loan, especially if you have a lot of equity in the home. If you already have a line of credit, it may be beneficial to consider taking the money out and placing it in safe investments. John Ulzheimer, the president of consumer education at Credit.com, warns individuals that this process will reflect the debt on your credit report.

Cash Funds Investments

Despite the failing stock market, there are safe places for cash. Banks are one of the safest places to place your cash funds. Through the end of this year, Congress has raised the federal limit for deposit insurance. It reflects an increase from $100,000 to $250,000. Yet another safe place for cash with guaranteed principle protection and guaranteed tax free rates of return is Roth on Roids.

Certificates of Deposit Investments

Still another safe investment is certificates of deposit. These are usually available through small banks and credit unions. It is also possible to get a good deal on a certificate through an online bank.

Money Funds Investments

If you have new funds, watch for funds with high yields. They are usually more risky than other investments. The best way to keep your money safe is to choose a money fund that offers a yield that is within a few points of the target rate set by the Federal Reserve’s federal funds rate.

After reviewing your entire portfolio, which should include your IRA retirement account, mutual funds, bonds and other stock investments, there are still other things to consider. Making sure you will maintain the money you have already saved for retirement is the ultimate goal here.

Credit Score

Take any steps possible to raise your credit score. This can be done by consolidating debt and reducing the number of credit cards you use, especially those with high interest. A good credit score will be a huge asset in the future.

Withdrawing from your IRA?

Individuals that planned for retirement by opening an IRA account may be on the losing end these days. Typically, to make use of IRA retirement income, the rule of thumb is to withdraw 4% of the retirement savings during the first year of retirement. Each following year should increase by 3%. It may not be in the best interest of retirees to follow this rule during the bear market. How much you are able to withdraw will depend on the IRA withdrawal rules. They differ for traditional and Roth IRA accounts.

The suggested 4% may be too much for recent retirees. If they withdraw while the market is declining, it will be very difficult to recoup these losses. This is where a Roth IRA can be of benefit. Based on Roth IRA rules, there are no required withdrawals when an individual reaches 70 ½, and the person can continue to contribute to the account. This is a great way to continue saving and building your nest egg for when the market begins to climb again.

Those who were planning to retire soon may want to reconsider their decision. Working for another year or two will not only provide you with steady income, but will also aid in building your current portfolio and raising the amounts in your IRA accounts.

Save on Taxes: Transferring from Traditional to Roth IRA

Do whatever is possible to save on taxes. One way to do this is to undo a Roth IRA conversion. If your IRA account has decreased because of the market, you will be paying taxes on the amount that has been lost. For example, if you began with $100,000 in traditional IRA accounts, the accounts are now worth less because of the market downfall. If you converted to a Roth IRA, the beginning balance of the accounts for the year would be taxed. That means you would be taxed on the $100,000, not the lesser amount that is currently in the accounts.

Despite the downward spiral of the economy, there are ways to continue saving and ways to protect your retirement savings. Even with their limitations, IRA retirement accounts continue to be one of the best options when planning for retirement, regardless of the stock market standings.

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While many consider retirement in Mexico a luxury – which it most certainly is in terms of lifestyle – it does not require luxury funds. In fact, baby-boomers can buy a property in Puerto Vallarta for their retirement, and bring enjoy an income through this property, covering expenses, or even adding additional savings for the big day.

Puerto Vallarta luxury condo are available in many shapes, sizes, locations and styles, and many units providing a luxury lifestyle can be found for much less then you might imagine. Retirees may consider a variety of excellent locations, either providing proximity to the classic old town and famous Malecon area, or near a golf course development in a community such as Nuevo Vallarta. In most options, rental for vacation purposes, or even long term rental (depending on if the buyer intends to make use of it before retirement or not, and the location of the property) can provide varying degrees of income. Real estate experts will be able to help a buyer forecast possible income levels, and integrate this into their pre-retirement budget.

Homes also provide excellent opportunities, with the added option of buying a fixer-upper for a lower cost, converting it into a tropical dream home. Puerto Vallarta land on a hillside community just in the process of being discovered by expats can still be found for very good prices, providing a similar opportunity, where a retiree can build a home of their own design, either ready for retirement, or completed earlier to enjoy for vacations and provide an income.

In either case, this kind of purchase provides an excellent supplement for a those just starting into a savings plan, with the added advantage that the soon-to-be retirees may be enjoying a property in one of Mexico’s favorite beachfront communities while they wait for retirement to begin, or, at the very least, they will have the pleasure of knowing that when the day comes, they will have this condo or home waiting for them.

TOPMexicoRealEstate.com; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

1.Retirement Annuities; an annuity is a payment made by an insurance company to an individual for the rest of your life in return for you giving them a capital payment. So for example, let’s say that you invest in a personal pension plan with an insurance company for 30 years. When it comes to you retirement date, the amount of money that has built up in that pension plan, let’s say $100,000 is then traded in for an annuity. You can either buy this annuity from the insurance company that you have built up your pension plan with or you can search the annuity market for the best annuity rates. A financial adviser can help you do this. But once you have bought your annuity then that’s it, there’s no going back. So choose wisely and do your research.

2.Fixed Deposits in Banks; This is another very popular method of investing for retirement. Every bank pays out a healthy interest rate on the invested principal, due to which after some years the invested amount multiplies. If kept for a significant number of years, the little amount invested in fixed deposits could multiply and be a good source for spending the life comfortably after retirement. One of the better aspects of banks [even in today's credit crunch environment] is that they are a safe house for your money. You will pay for this safety by being offered a lower interest rate.

3.Term Insurance Policies; Term insurance policies are set for a fixed period of years, which can be either a short or a long period of time. The investment is done in the form of premiums after regular intervals of time. The premiums are collected by the insurance company and the interests are accrued on them. When the stipulated term is over, the insurance company pays out this amount to the person. Many people buy term insurance policies to tide them over after their retirement.

4.Real Estate Investing; Most people have paid off the mortgage by the time they reach retirement age. If they timed buying their property right, which most people will have because of the huge time frames involved circa 25 or 30 years, it is almost certain that their property will have built up significant equity. This can be a good option for investment. Many people sell their homes after retirement and buy smaller homes in a more peaceful area. The money they save is good enough to look after their needs in their post-retirement years. This is a clever idea if you have not had the opportunity to save for your retirement through a company or personal pension plan.

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