web analytics
March 5, 2015 / 14 Adar , 5775
At a Glance
Blogs
Sponsored Post


Why Your Best 20th Birthday Present is a Pension

Goldstein

When you are in your early twenties, it seems as if you will always be young. At this point in your life, you may have completed your university studies and now you are out there in the work world, or perhaps you are still studying towards a further qualification. You may be newly married at this point, or still waiting to find the Right Spouse before tying the knot. Whatever you are doing, retirement may be the furthest thought on your mind.

However, retirement will not stay on the horizon forever. Before you know it, the years pass, and you will hopefully find yourself established in life with a career and family. You have a definite professional path, and you are working hard to put food on the table and make sure that you, your spouse, and children have everything you need. The only studies that you are thinking about now are your children’s tuition fees. And this is how it goes, as the years pass. The nature of your needs and goals will change through life – until the time comes to retire and enjoy the fruits of your labors.

For this reason, it is important not to let the years run by without planning for the future. No matter how old you are, whether you are 20 or 55, you need to make sure that you have a pension plan and to put some of your money aside into savings and investments. Since there is no guarantee that your company’s pension plan or the government’s pension plan will be enough to cover your retirement needs, it’s important to have a personal savings plan which could make up the (potentially large) shortfall. No one wants to end up dependent on the goodwill of their children, who may well be supporting their own families by this time.

Of course, every family has its own situation, levels of risk, and specific needs and goals, which is why you need to find the pension plan that is the best for you, whether it’s an IRA, 401(K), or any of the other options that exist out there. There are many different factors to consider. For further ideas on how to plan for retirement, read http://profileperspectives.com/dont-let-retirement-creep-up-on-you/.

Planning for retirement now, while you are young, can make all the difference to your future.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Why Your Best 20th Birthday Present is a Pension”

Comments are closed.

Current Top Story
Megillat Esther
The Origins of Purim
Latest Blogs Stories
Megillat Esther

There are many questions surrounding Purim, here are a few answers….

Palestinian Authority Funded Terror

The Palestinian Authority, led by the “moderate” Abbas, and murderous terrorism are synonyms.

Obama Bedelia

Kerry…and Bide…and EVERY DEMOCRAT just happened to be unavailable to meet with Netanyahu.

Doug Goldstein

Why is it necessary to be accountable in business and in life? And how does it differ from guilt?

I’d rather you label me a concerned Jew, an Israeli. Someone who cares about the future of my nation

Goldberg chose to believe two impossible things before I had breakfast this morning.

The State Department claims Bibi revealing details of the bad Iranian deal to Americans would be a “betrayal”.

“Please stop shushing me” They kept shushing! Shushing seems to be how Leftists do Israeli politics!

Labor-Livni post-Zionist party’s campaign based on their claim they know how to keep the US happy

Mentioning genocide in the same breath as Susan Rice crosses a redline about Obama’s foreign policy

What are the ramifications of giving up your US citizenship? Would it effect your visiting the US?

Chasidim believe that Metzitza B’Peh (MbP) is an essential part of the circumcision ritual.

AMERICAN INTERFERENCE in ISRAELI ELECTIONS is IMMORAL and 1000% CHUTZPADIK!

Extremism from Jews is considered a “danger;” Arab extremism and anti-Jewish terror is “legitimate”

It was in fact Israel, not Palestinians or journalists, who began spreading the older photos, in order to generate credibility for the “slander” angle.

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Why is it necessary to be accountable in business and in life? And how does it differ from guilt?

Doug Goldstein

What are the ramifications of giving up your US citizenship? Would it effect your visiting the US?

Big questions this week: Does materialism make people happy? Can one be happy with what they have?

The necessity for setting financial goals and how to realize your life’s dreams.

Discussing the connection between speech and thought and how a foreign language affects decisions?

Can a business trying to find solutions to world problems be profitable?

In our second podcast this week, Doug meets James Clear, entrepreneur and expert on personal habits. How easy is it to change your behavior to achieve your goals? And how can you improve your financial habits if they are deeply ingrained? Listen to your favorite personal finance show for the answers to these questions and […]

Does wealthy always equal healthy, and how do personal relationships affect your financial success?

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/why-your-best-20th-birthday-present-is-a-pension/2012/08/15/

Scan this QR code to visit this page online: