1. Retirement Planning: Nuts and Bolts

2. Journal 3.5
"Procrastination is, hands down, our favorite form of self-sabotage.“
How does this quote relate to investing and planning for retirement?

3. Stock Follow Up Rankings! - www.howthemarketworks.com
Make sure you’ve chosen your investments by the end of the day, so you can start tracking

4. When should you start planning for retirement?

5. Video

6. How Much Do I Need?
Determine the average salary for the career field you’re interested in: States&SourceId=Country
Estimate how much you’ll need:
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7. Plan on $0 from Social Security and be happy if you get some
A program where the government helps you live in retirement by sending you money
You pay money into it now and get money later
What are potential problems?
Plan on $0 from Social Security and be happy if you get some

8. Dividends

9. IRA Individual Retirement Account No restrictions on who can have one
You don’t pay taxes on the money you invest, until you pull it out
Gives you “more money” to invest
Contribution limit of $5,500 (to all IRAs)

10. Roth IRA
Pay income tax before putting it in the account, but don’t need to when you take it out
May be better if you expect to be in a higher income bracket when you retire
Shares the limit with a traditional IRA

11. Venn Diagram

12. 401(k) Employer Sponsored Tax deferred
You don’t have to report it on your income tax
You pay taxes when you pull the money out
Limited to an annual contribution of 18,000 dollars
Big fees/higher taxes if you pull the money out before you retire (specifically are still with the company or under 59 ½)

13. 403(b) Literally the same thing…
… except only available to certain companies
Public schools, healthcare, etc.

14. Financial Risks
Inflation
Deflation
Recession