Retirement Planning Account Help

Well, that depends a lot on you. It is hard to say what is right for you without knowing more about you.

As far as retirement plans go...

Some people are more risk adverse than others. Some think of themselves as investors while others think of themselves as savers.

In general you have traditional or Roth IRAs. A traditional IRS gives you a current tax benefit because you can deduct the contribution from your income on you income tax return.

On the other hand, a Roth IRAs have other benefits. One of the benefits is that you are not required to take mandatory distributions at some particular age. Second, your distributions from a Roth are not subject to income tax. But a third advantage is that you can leave your Roth to your heirs at your death and it retains its characterization as a Roth IRA. That means upon retirement age whoever inherits your Roth never pays income tax on their distributions either. For those that hate taxes that is a big plus.

All that said, you may have some particular knowledge or skill that you can benefit from. You may know how to pick a good investment or recognize a rare coin when you see one.

If you own land you can plant trees which will yield a good profit when they are cut. Walnut, white oak, cherry bark oak, etc. Of course you need to do that when you are young.

For the right answer a lot depends on you.

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Retirement Planning Account Help