10 Best Investment Options For A Stronger Retirement

Best retirement investment options for senior citizen. Retired couple consulting with a financial advisor.

(b) Roth IRAs

All transactions & earnings within Roth IRAs have no tax impact but you have to pay taxes when depositing money into this account. Unlike traditional IRAs, your income may prevent you from contributing.

(c) SEP IRA

Also known as Simplified Employee Pension IRAs. It is a traditional IRAs for small business owner & self-employed individuals to make retirement plan contributions in employee’s name rather to a pension fund in company’s name.

(d) Simple IRA

Also known as Savings Incentive Match Plan for Employees IRA. It is a plan quite similar to 401 (k) plan but with lower contribution limits & less costly administration. It allows employer matching contributions to the plan whenever an employee make a contribution.

After you turned 70.5 years, you will have to make required minimum distributions (RMDs) which in turn will depend on your life expectancy & account value. You also have to start withdrawing money before April 1 of the year following the year you turned 70.5 years.

(8) Mutual Funds

It is one of the most suitable & best retirement investment options or plans to purchase securities. Mutual fund is a type of professionally managed investment fund. It pools investor’s money to purchase stocks, bonds, & other instruments which in turn are divided into stocks.

It provides the benefits of diversification, liquidity, simplicity, affordability & professionally managed portfolio after doing research & analysis of stocks.

Every investor will have to pay the funds per share Net Asset Value (NAV) along with any shareholder fees. Most of the mutual funds calculate their NAV value after the close of major exchanges.

Image Source: Shutterstock

Recommended Posts

More From GetUpWise

About Editing Staff
At GetUpWise, we are a team of professional writers from different areas of subjects. We are conducting thorough research on each & every topic from highly reputed sources before writing any piece of article. Once research is done, we try our best efforts to provide informative piece of articles in an easy to understand manner. It is something that is extremely essential to meet our goal while reaching & offcourse building a strong online community. We do update our articles from time to time in order to provide the most latest information quickly. Thus, our articles can be used as a "way to gain smartness".

Leave a comment

Your email address will not be published.


*


More in Retirement
Secrets Retirees Will Never Tell You.
Top 10 Secrets Retirees Will Never Tell You

Retirement can bring several ups & downs in life of a senior citizen. These secrets retirees will never tell you...

Close