Maximizing your retirement savings can sound enticing, but it may not be the right choice.
Retirement Resources Finder
Retirement information and advice for every age.
Retirement plans, explained
Know what to expect from your plan as you save and invest for retirement — and how to choose if you’re not nearly ready to retire yet.
- 401(k). Both you and your employer can put money in tax-free, but it’ll be considered taxable income when you withdraw from it after retirement. This is one of the simplest and most popular retirement accounts.
- Pension. One of the cushiest retirement plans, a pension is a benefit offered by an employer that gives you a guaranteed monthly income when you retire. The money is usually taxed as income, but some military and disability pensions are tax-free.
- IRA. And individual retirement account, or IRA, lets you put money in each year until you turn 70½. Your contributions are tax-deductible, but the money will be taxed as income when you withdraw. There’s a cap on how much you can deposit each year, so IRAs are often used to supplement other retirement plans.
- Roth IRA. Like traditional IRAs, Roth IRAs have caps on how much you can deposit per year. But there’s no limit on how long you can save, and qualified distributions aren’t taxed. While Roth and traditional IRAs are similar, they do have important distinctions.
- Individualized plans. Many people choose to utilize a combination of established retirement plans, savings accounts, CDs and stocks to create a personalized plan for retirement.
Retirement investing resources
There’s a lot to choose from. Here are some deeper looks into the details of some plans.
Consider the risks and penalties before you make an early withdrawal.
Roth or traditional: which is better for you
Everyone’s retirement looks a little different. Learn how to plan for the future you want.
Your credit score impacts your ability to qualify for loans and mortgages long after you retire. Find out how to keep it healthy when you’re not working.
Learn what it involves and how to get started.
8 tips for paying off debt in your golden years.
Whether you’ve recently started your career or are a seasoned pro, it’s never too late to put a retirement plan in place.
Compare financial products for retirees
From car loans and insurance to credit cards and mortgages, compare financial products that are specifically tailored to those no longer working.
Learn how to get life insurance when you’re over 60 and how to save.
You can still get a credit card when you’re on a pension or if you’re retired. Compare your options and learn how to apply here.
Lenders will still consider you for a personal loan as a retiree. Find out what your options are and how to apply.
You can use the equity in your home to retire comfortably. Learn how it works, when it’s a good idea and what to watch out for.
Learn how to save money on your car insurance after you’re retired.
If you’re planning to take advantage of your retirement and see the world, make sure a mishap won’t clear out your bank account.
You can get a car loan when you’re retired. Learn what criteria you’ll need to meet and compare lenders.
Read more on this topic
6 retirement plan options for the self-employed
You have a handful of self-employed retirement plans to choose from. Learn more.
How to avoid sneaky 401(k) fees
How to identify 401(k) fees and how they impact your bottom line.
A beginner-friendly guide to IRAs
Everything you need to know about the tax advantages, fees and limitations of individual retirement accounts.
A beginner’s guide to your 401(k)
Invest in your retirement while enjoying tax breaks and peace of mind.
How can you use your health savings account (HSA) as a retirement investment?
A health savings account (HSA) can help you get prepared for your retirement. Learn more.
Should I max out my 401(k)?
The rush of turning $19,500 into $1 million can be enticing, but it’s not always the best idea.
What’s the average 401(k) balance by age?
How does your 401(k) balance compare?
How to convert a 401(k) to a Roth IRA
Convert your 401(k) to a Roth IRA to make tax-free withdrawals at retirement. Learn more.
401(a) vs. 401(k): How they differ
401(a) and 401(k) plans are retirement savings vehicles with tax benefits, but they have key differences.
Roth IRA vs. traditional IRA
Traditional IRA or Roth IRA? Find which is best for you.