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Planning For A More Secure Retirement?

Why An IRA?

It's a sad that over half the American population does not have enough money at retirement. They're forced to return to work, usually for a low-paying job they wouldn't even have considered during their prime earning years, or they must depend upon family for financial support. Either way, it's an unfortunate way to spend what are supposed to be the best years of your life. But the simple fact is... if you plan ahead and begin saving early, you can retire more comfortably. Unfortunately though, most people don't begin thinking about their retirement until it's too late.

Planning for retirement is a tricky thing these days. It used to be that people could count on the value of their homes as an investment "nest-egg" for their retirement. In the past 20 years however, things have changed. And when real estate markets go "soft", you just don't seem to get what you expect for your home. In addition, the future of Social Security is so uncertain, that many of us don't even include it in our retirement plans. Inflation is unpredictable. Baby boomers have seen consumer goods prices almost triple since the early 1970s. And with Corporate America "downsizing", few people really depend on a corporate pension any more.

Now for some good news: There's a retirement vehicle designed to help us. It's called an Individual Retirement Account (IRA). It's a special retirement account that allows you to invest up to $2,000 a year and pay no taxes on the earnings until you retire. In addition, depending on your tax situation, you may also be able to deduct all or a portion of your IRA contribution from your taxable income- saving you taxes right now.

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