Types Of Retirement Plans

1. Types Of Retirement Plans What can one think of when it comes to investing their money into something productive and does not ask for daily updates and maintenance? To specially serve the aged people, and provide them complete convenience, some retirement plans that offer high returns are launched. Different types of retirement plans: 401K plans: this is a type of plan which is offered as an employee benefit. You can contribute a portion of your pre-tax paycheck or tax-deferred investment in this type of investment plan. Individual retirement accounts: IRA account is a type of account through which you can invest in stocks, bonds, mutual funds, EFT’s and more. Roth IRA’s: unlike other plans, Roth IRA contribution is done with after-tax money which is never taxed again if generated within the Roth. Roth 401k: Roth IRA is a mixture of Roth IRA and 401K plans. This type of account is offered by the employee itself which is comparatively new. Simple IRA: this type of plan is offered by the businesses that are small in nature and hence, retains less than or up to 100 employees and works very much like 401K plan. SEP IRA: if you are self employed and have no employees, you can save a portion of your income and put it in SEP IRA that brings benefits for your future. To start a retirement plan, visit woodland securities for great assistance.