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Retirement saving and planning is a lifetime thing
Except for the public sector (police, firemen, teachers & elected officials), the old “defined benefit plan” for retirement has largely disappeared. That means that for those working in the private sector the responsibility for securing retirement has shifted dramatically from the employer to the employee. The tools – defined contribution plans, IRA’s, 401(k)’s, etc. – are there to help, but the responsibility to use those tools to build a nest egg sufficient to make your golden years comfortable is on you. This article by Investment Advisor Judy Loy appears at PA’s StateCollege.com, offering a description of the different types of retirement investment vehicles and how to use them. Click here to read more.