Q. I want to start saving for my retirement, what are the tools I should consider?
A. At a high level, there are two types of retirement planning choices: Investment tools and Savings tools.
An investment tool means your money could grow significantly, but you also have the risk of losing principal. A savings tool means your principal is safe, but don't expect spectacular returns on your money.
For most people, the following list covers most of the common retirement tool choices:
Investment Tools
Safe Retirement Tools
In our next several blog posts, we will compare the risks and benefits of the various investment and saving tools.
A. At a high level, there are two types of retirement planning choices: Investment tools and Savings tools.
An investment tool means your money could grow significantly, but you also have the risk of losing principal. A savings tool means your principal is safe, but don't expect spectacular returns on your money.
For most people, the following list covers most of the common retirement tool choices:
Investment Tools
- Stocks
- Bonds
- Mutual Funds
- Exchange-Traded Funds
- Precious Metals
- Real Estate investment
- Variable Annuities
Safe Retirement Tools
- Cash
- CD
- Money Market
- Savings Account
- Fixed Annuities
- Permanent Life Insurances
In our next several blog posts, we will compare the risks and benefits of the various investment and saving tools.
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