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All posts tagged 401K

What Can You Do With $1,400 a Month?

I don’t know about you, but for me, not much. However, according to the Social Security Administration, that is approximately the average monthly benefit amount that retired seniors received as of December 2016. This highlights the importance of having limited reliance on Social Security income later in life. It is no longer enough to have something set aside to supplement one’s Social Security benefits; in fact, it is looking more and more likely that Social Security itself will be the supplemental – rather than main – source of income. Currently, my husband and I spend a third of that amount on food in our household each month. It is imperative that we plan appropriately if we want to maintain a decent standard of living in our senior years. We do not have to live lavishly (while that would be nice), but it would also be rather unfortunate if we worked for 40+ years and ended up living in squalor in our old age.

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Would you like to have more control over how your retirement savings is invested? Are you sick of stacking cash away just to have the stock market drop 5% over night for no apparent reason? If this is you, consider moving your retirement savings to a Self Directed IRA. SD retirement accounts allow you, the account holder, to specifically “direct” your savings to the investment options you choose. Brian Kearney, from the Entrust Group answers your specific questions in the short video below.

Still have questions? Give us a call at 617-297-8641 or email us at contact@mandrellco.com. We’ve love to assist and connect you with the right professionals in the business.

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