people 50 years and older, a quickly approaching retirement leaves
significantly less time to save and invest. Even though time may
be working against you, here are seven tips to help you get your
retirement plans back on track.
retirement savings your top priority
retirement a priority today and don’t let a new car or vacation
lure you off
debt-free in the quickest way to increase your capacity to save
Take advantage of the
savings vehicle available
2001 Tax Relief Act resulted in higher contribution limits to
several retirement accounts and permitted “catch-up”
contributions for those nearing retirement.
at the option of a smaller home, car or other large expense so
that you can save more towards your retirement goals.
Make sure your assets are
your 401(k), IRA or other retirement plan is heavily invested in
growth stocks and/or other aggressive investments, consider
reallocating to some less-volatile investments.
Consider tax implications
for tax-deferred and tax-exempt investments and take advantage of
recent tax reform legislation provisions that apply to your
Get financial advice
less time left to boost your savings, consider enlisting the help
of a qualified financial advisor who can help evaluate your
current savings and your options to gain traction against your
information is provided for informational purposes only.
The information is intended to be generic in nature and
should not be applied or relied upon in any particular situation
without the advice of your tax, legal and/or your financial
advisor. The views
expressed may not be suitable for every situation.
Express Financial Advisors Inc. Member
American Express Company is separate from American Express
Financial Advisors Inc. and is not a broker-dealer.
This communication is published in the United States for residents of
North and South Carolina only; and this advisor is licensed only in
the states of North and South Carolina."
Roy P. Janse
Financial Advisors, Inc.
IDS Life Insurance Company
1150 Haywood Road
Greenville, SC 29615
Phone: (800) 554-0805 x141
Fax: (864) 234-7139