In this video, we dive deep into the world of retirement planning for those hitting the big 40! Join me as we explore the financial journey of Joe and Jane, a married couple both aged 40, with a combined income of $275,000.

We’ll compare their retirement savings, totaling $355,000, to the average balances in 401(k) and IRA accounts from Fidelity and Empower. Discover where they stand and how their savings stack up against others their age.

But it doesn’t stop there! We’ll discuss strategies to boost your retirement savings, including working longer, adjusting goals, and optimizing contributions. Plus, we’ll uncover the power of backdoor Roth IRAs and after-tax contributions.

Don’t miss this insightful analysis that could make a significant difference in your retirement plans. Click now to secure your financial future!
/////////////////////////////////////////////////
Get answers FASTER…
Join this channel to get access to perks:

Chat on discord:
Join Link

Support on Patreon:

Get IRS FORM W4 TAX WITHHOLDING HELP HERE STARTING AT $39. bit.ly/3FJ6w8U
—————————————————–
Are you ready for professional investment advice? We can help you with financial planning and asset management. Let us guide your investments to your financial freedom. START HERE

Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.

TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™

Company Website:
twitter: @travissickle
Instagram:
facebook:
LinkedIn:

Sickle Hunter Financial Advisors
1646 W Snow Ave.
Suite 144
Tampa, FL 33606
——————————————————-

Gear Used in Videos

Partnership referral links
Aura Identity Theft Protection *Up to 50% off* HTTPS://www.aura.com/travis
Bitcoin IRA
Sofi Banking

All Amazon links are affiliate links
____________________________________________________________________________
Information in this video is for educational and entertainment purposes only.
sicklehunter.com/disclosures
____________________________________________________________________________

#travissickle…(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

Am I Retirement Ready at 40? 401k + Roth IRA Retirement Plan Walk-through

As you approach your 40s, the idea of retirement may start to become more of a reality. With only a couple of decades left to save and prepare for retirement, many people in their 40s begin to wonder if they are truly ready to retire at 40. Fortunately, with the right retirement plan in place, it is possible to set yourself up for a comfortable retirement at this age.

One of the most important components of a successful retirement plan is having the right investment vehicles in place. This often includes a combination of a 401k and a Roth IRA. Let’s take a closer look at each of these options and how they can help you prepare for retirement at 40.

401k Retirement Plan

A 401k is a retirement savings plan that is sponsored by an employer. It allows employees to save and invest a portion of their paycheck before taxes are taken out. One of the key benefits of a 401k is that contributions are often matched by the employer, which can significantly boost your retirement savings.

For those in their 40s, it is important to maximize contributions to your 401k in order to take advantage of the tax benefits and employer matching. Many financial advisors recommend contributing at least 10-15% of your income to your 401k in order to build a substantial retirement nest egg by the time you reach your 60s.

Roth IRA Retirement Plan

In addition to a 401k, a Roth IRA can be a valuable addition to your retirement plan. A Roth IRA is an individual retirement account that allows you to contribute after-tax income, meaning your withdrawals in retirement are tax-free. This can be advantageous for those in their 40s who anticipate being in a higher tax bracket in retirement.

One of the unique benefits of a Roth IRA is that it allows for more flexible and potentially tax-free withdrawals in retirement. This can be especially beneficial for those who want to retire early, as it provides access to tax-free funds before the age of 59 ½.

Combining 401k and Roth IRA

By utilizing both a 401k and a Roth IRA, you can create a well-rounded retirement plan that takes advantage of both tax-deferred and tax-free growth. This combination allows for a more diversified and flexible retirement income strategy, providing options for both traditional and tax-free withdrawals in retirement.

As you assess your retirement readiness at 40, it’s important to take a holistic approach to your retirement plan. Consider factors such as your current savings, investment strategy, anticipated expenses in retirement, and any potential sources of retirement income, such as Social Security or pension benefits.

Ultimately, the key to being retirement ready at 40 is to start planning and saving for retirement as early as possible. By maximizing contributions to your 401k and Roth IRA, you can set yourself up for a comfortable and secure retirement in the future. If you have questions about your retirement plan, consider seeking guidance from a financial advisor who can help you create a personalized retirement strategy that suits your individual needs and goals. With a sound retirement plan in place, you can set yourself on the path to a successful retirement at 40 and beyond.