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. (Read our guide to best IRA accounts.)
- 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. (Read our guide to best Roth IRA accounts.)
- 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.
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.
Get a car loan when you’re retired. Learn what criteria you’ll need to meet and compare lenders.
Read more on this topic
Backdoor Roth IRAs
This loophole lets high earners contribute to a Roth IRA even if they make too much.
What’s an average 401(k) return?
Discover what an average 401(k) return is and how asset allocation can affect how your retirement savings perform.
How to save for retirement
Strategies to help you make the most of your retirement savings.
A guide to your inherited 401(k)
How to handle and make the most of your inherited 401(k) assets.
Self-directed IRAs are a type of retirement account that allows you to invest in alternative assets.
401(k) vs. IRA: Which is best for you?
Knowing the difference between a 401(k) and an IRA will help you maximize your retirement savings.
A beginner’s guide to retirement investing
What you need to know to start building your retirement nest egg.
Best Roth IRA accounts for 2022
These Roth IRAs stand out for their competitive fees, intuitive platforms and practical research tools.
How to roll over a 401(k)
Opt for a direct 401(k) rollover to avoid penalties and fees.
Best IRA accounts for 2022
Check out the best IRAs with the lowest fees and the most useful features.