There are many ways to save in planning for your retirement. Some methods work while others do not. Today, we share with you 5 of the most common retirement benefit plans.
1) Profit-sharing plans – Profit-sharing plans in which company contributions to the retirement account are calculated as a percentage of company profits are the most popular form of retirement benefit.
2) Pension plan – There are still 4,262 traditional pension plans that promise long-term employees guaranteed payments for the rest of their lives in retirement.
3) Fixed company contributions - Here, the company contributes a specific percentage of a worker’s pay to the retirement account, regardless of how the company performs.
4) Employee stock ownership plan - Sometimes firms contribute shares from the company’s treasury or cash to purchase outstanding shares of company stock to employee accounts using an employee stock ownership plan (ESOP).
Well, as you can see, there’s a lot to consider when determining the best course for you and your family. This is just one of the reasons we do what we do. Let us help you with retirement planning and goals.
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