Special rights as a spouse. Different options the spouse has for claiming money. Avoiding unnecessary taxes and penalties. Recoverable trust as beneficiary. Penalties for leaving money in too long.
Many people often live their lives without considering how they plan to retire.
People do not realize that the idea of living solely on the benefits of social security is not realistic. In order to secure a comfortable future, people must have some type of additional income. Sacrificing a small amount of money into an IRA at a relatively early age could make a considerable difference in the lives of people upon retirement. It is important to consider how much money will be needed for a comfortable retirement. Careful planning is essential when considering an item with such importance.