Introduction : get your exit strategy ready. Understanding the basics
Cast your retirement savings into the right role. Decide whether your primary goal is to generate income from your retirement savings or to preserve as much of its value as you can for the next generation
Know the facts about your pension and retirement savings plans. It's easier to maximize your income, lower your taxes, and avoid penalties if you understand your pension and retirement savings plans. Get the essentials in order
When to get started-and how. Give yourself two to five years to put your investment strategy in place, six months to one year to get paperwork in order
Organization, consolidation, and paperwork. You need a "back-office" plan to make your job easy and convenient
How to choose, change, and keep track of your beneficiaries. Your beneficiary form is the will for your retirement account. Keep it in a safe place. Types of retirement plans
Your workplace pension plan. Think about your goals and your skills before you choose how you want to take retirement income from a pension plan
Individual retirement savings accounts. Even if you have never had an IRA, chances are there could be one in your future
Small business retirement savings plans. Similar rules, but fewer protections, apply to small business retirement plans. Know the rules for rollovers and withdrawals
Rollovers and withdrawal options for workplace retirement savings plans. You have more options for tax savings and control if you understand the eligibility rules and deadlines
Required withdrawals from your retirement savings plans. You're required to begin minimum withdrawals from most accounts at 70, but there are some ways to delay. Avoiding taxes and penalties
Minimizing taxes. Your decisions about withdrawals-how much you take, when you take it, and from what accounts-affect your taxes
Penalties-and how to avoid them. You can always get at your retirement savings penalty free, if you know the ropes
Important dates and milestones. From age 55 to age 90, the IRS is watching you. Mark these birthdays on a special calendar. The best strategies for handling retirement assets
Play it smart with your social security. You can receive social security income early or hold out for a higher benefit if you wait
How to choose-and when to change your investment strategy. Your investment strategy in retirement should be realistic, optimistic, uncomplicated, and easy to execute.
