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4 Types Of Retirement Plans
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Planning your retirement, must be very confusing rather hectic for most of the people out there. Though you are not alone there are so many like you who have second thoughts about different plans for retirement. When you finally decide to secure your future after your retirement comes another trouble, how to understand which plan to opt for? It may sound difficult to most of us but actually if you put some attention nothing will bother you anymore. Just a little research and discussion will help you to choose the best retirement plan for you for example 401(k) and 403(b) etc. Here given below are 4 types of Retirement plans for you to choose from:
1. Personal Plans: IRA or Individual retirement agreement is the most popular plan that comes in various substitutes according to the amount of tax and their treatments etc.
2. Government Sponsored Plans: Social security plan is the biggest Government sponsored retirement plan.
3. Annuities: These are basically sort of contracts which are made between insurance companies internally and they can be fixed or variable in nature.
4. Employer Sponsored Plans: there are many subdivisions for this plan like,
a. Qualified Retirement Plans that also has its subdivisions:
- Defined benefit Plans
- Defined Contribution Plans
b. Non-Qualified Retirement Plans
Given above are few major types of ING Retirement plans available in market for you according your requirements and needs. You just need to find out which type of plan suits you in a better and more beneficiary ways. You should always do proper planning before investing your money in all such plans as there is a great chance of fraud in many cases as well, so it is always advisable to first do proper research work before investing your money. You can talk to your seniors regarding the same or you can even take some help from a friend or may be someone who keeps some knowledge about all such issues.
You can even take the help internet which is an obvious support for all your queries and all your questions. You can go through various articles (like this one) to know more about your retirement plans. Read them thoroughly, understand them and then only take some step. While choosing your retirement plan, do not ever be in hurry but rather take your time and work through a step by step planning, because after which, you can make your retirement secured and enjoyable and can make it worry free!
This article is produced by The Retirement Group - provider of Fidelity NetBenefits, 401k Fidelity netbenefits, 401k login, ING Retirement & many more retirement planning service. Contacts at firstname.lastname@example.org.
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