Your retirement funds can be saved in many ways. The most typical is the FICA payments taken out of our paychecks. This goes toward your Social Security and is one way to save although there are thoughts that this system may disappear in future years. Mutual funds are another way to save, with systematic purchases of corporate securities.
Ira’s and 401K’s are tax-sheltered annuities as are Simplified Employee Pensions but maybe those who are the lucky ones, can strike it rich on a blackjack table or win that huge lottery amount. It doesn’t matter which one you choose, your actual success will be governed by circumstances of which you can exercise a little control.
All to often you see a large amount of people depending on family members or the government for a large part of their retirement. If only more people were aware that a pack of cigarettes a day and a large Mocha Lati from the coffee shop can total up to $4,000 a year. If that money were invested in money market accounts, treasury obligations or corporate bonds that would be interest bearing, you would be amazed at how much brighter you retirement future will begin to look.