Where to Keep Your Retirement Savings Safe
Many potential retirees are looking forward to their retirement but some are anxious about keeping retirement safe for their financial future. Various workers have been contributing to the 401(k), but have concerns regarding whether to leave their savings in the account or transfer them to another source. This concern is exaggerated by the present economic conditions, primarily related to safe keeping rather than an increased return. One point to consider is that a contributor is not permitted to continue once they have retired.
It is usually accepted that keeping retirement safe with a retirement plan sponsored by an employer is as secure as an IRA when compared to asset protection. Should your anxiety be related to keeping retirement safe by protecting the principal sum, then it would be sensible to change your 401(k) savings to a Rollover IRA facility.
This facility would provide you with various comparative options in keeping retirement safe for you. Included would be stable value funds, money market accounts and bond funds. However, investment where the principle is guaranteed by the United States government is not usually available. By using this source for your savings security, you would have a current protection limit of $25,000.
Although you would have the peace of mind in keeping retirement safe for you, the state of the economy today would not offer great earnings, or possibly not even maintain pace with the inflation rate. On the positive side, you would have a guarantee for keeping retirement safe with your principle sum, but to increase your savings you would need to take a risk!