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SMI releases new FREE retirement planning report

It's Personal Finance Friday, and today we're focusing on preparing for retirement (plus we have a special freebie for you — read on!).

SMI has never endorsed the idea that when people arrive at certain age they should give up all productive endeavors and go spend every day on the golf course or at the lake. We think a person's later years can be spent in all kinds of productive enterprises, especially those that relate to strengthening family ties and advancing the Kingdom of God. And if your health is good, you might even want to keep working.

But even if you plan to keep earning an income well past normal "retirement age," it's wise (and good stewardship) to build up savings now so you will have adequate financial support later.

Regrettably, many people are failing to save enough when they are young or middle-aged, according to retirement-funding studies.

In the decades ahead, that lack of savings, when combined with possible cuts in Social Security benefits, is likely to mean that Americans will be forced to work longer, competing for a limited number of employment opportunities that may not pay as well as current employment.

To help you think through the realities of retirement planning, we've prepared a complimentary new report, IRAs, 401(k)s, and Social Security: A Retirement Planning Primer. The report explains the "three-legged stool" of retirement income: Social Security, private employer-sponsored retirement plans, and personal retirement savings. We believe it will help you craft a plan to ensure future financial stability.

The report includes:

• An overview of the Social Security system — and why cuts are likely ahead;
• A review of the pro and cons of different types of employer-sponsored plans;
• An explanation of the differences between a "traditional" IRA and a "Roth" IRA;
• A discussion of how to keep taxes to a minimum; and
• Advice on why to consider an IRA, even if you have an employer-sponsored plan.

For details on how to get complimentary copy of IRAs, 401(k)s, and Social Security: A Retirement Planning Primer — or our other FREE report, Seven Key Principles for Christian Investing — click here.

Next week's Personal Finance Friday post will look at two easy-to-use (and free!) services that can save you money and simplify your life. How 'bout that!

Spend wisely — and have a great weekend!

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