Investments

Does anyone have a retirement plan set up or investment plan going right now? Its a ways off for us but still would I would like to start now before its too late. I found a few websites but was interested in what you guys are doing.

Here is a link to some info on a 401k plan.

http://www.401khelpcenter.com/mpower/feature_070502.html

[yburan]

I plan to work in my store til i am 45. Then I will sell it for $1 Million, marry a stripper and move to Hawaii.

[Thomas]

As someone who is self employed you have several options.  You can open a SEP-IRA or Simplified Employee Pension Plan.  This can cover you and any employees that you deem eligible.  This is a tax-deferred option.

You can also set up a Roth IRA in which you contribute funds aftertax, the funds grow tax free and you aren't taxed upon withdrawl.  

I'd recommend getting in touch with an investment officer at your local banking institution and having them walk you though the positives and negatives of each type.  Make sure that you compare fees, withdrawl penalties, etc.

[amanda]

I'm going to retire when I'm 30.. maybe 35. Putting away some cash now.