Building your retirement strategy
The American system is notoriously convoluted and clunky, and the Tax Policy Center claims it’s getting even more complicated every year.
In an interview with MSNBC, Orman was asked what she thought the biggest money problem is for women that are around Gina’s age.
She said women over 50 tend to avoid dealing with money and don’t make plans to take care of themselves later in life, but tend to focus on their family instead.
“Women still give more to others than we give to ourselves and that is a really big mistake.”
For those of us without a direct line to Orman, services like FinancialAdvisor.net can provide reliable and trustworthy retirement planning guidance. Trained financial professionals can help you carve out a retirement plan that best aligns with your future goals.
Answer just a few questions about yourself, and FinancialAdvisor.net will match you with the best fit from a curated list of financial professionals. Then you can book a free, no-obligation consultation to make sure they’re the best advisor for your financial goals.
Diversify your IRA
Suze Orman has long been a passionate advocate for long-term wealth generation.
She frequently emphasizes that saving early can reduce your tax burden and allow for compounding growth, fostering a better financial security for you and your family security down the road.
She’s an especially big fan of Roth IRAs and their tax-free withdrawal benefits. Largely, that’s because these accounts can help you avoid a nasty tax torpedo that can have a detrimental impact on your Social Security benefits in retirement. However, a well-rounded retirement strategy includes careful investment choices within your investment account, no matter what that is.
For instance, if you’re nearing retirement age and optimizing for stability with your investments, gold is typically more stable than stocks during economic downturns and recessions. In fact, gold has increased in value sevenfold over the last 100 years.
Another reason to invest in precious metals like gold is that they can provide significant tax advantages. This is especially important for retirement planning. Opting for a gold IRA gives you the opportunity to hedge against market volatility by allowing you to invest directly in physical precious metals rather than stocks and bonds.
If you’d like to convert an existing IRA into a gold IRA, companies typically offer 100% free rollover. Others might offer free gold, silver or other metals up to a certain amount when you make a qualifying purchase.
You can check out our top picks for industry-leading companies offering gold IRAs.
Compare offers instantly and request a free information guide to help you understand how to diversify your portfolio and secure your retirement fund.
Real estate and your IRA
You might also consider additional asset classes for a resilient, long-term portfolio.
For instance, real estate can be a terrific way to diversify while benefiting from tax-free growth and retirement income — so long as you plan correctly.
Homeshares allows accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning, or managing property.
The fund focuses on homes with substantial equity, utilizing Home Equity Agreements (HEAs) to help homeowners access liquidity without incurring debt or additional interest payments. This approach provides an effective, hands-off way to invest in high-quality residential properties, along with the added advantage of diversification across various regional markets – all with a minimum investment of $25,000.
With risk-adjusted internal returns ranging from 12% to 18%, the U.S. Home Equity Fund offers accredited investors a low-maintenance alternative to traditional property ownership.
