What Is A Retirement Savings Plan? 
Heres the big retirement recommendation , pay yourself first and pay it into a retirement plan . If your employer offers partial or full contribution match in their qualified plan , contribute up to the match . Take the tax savings from the contribution deduction and fund a non-qualified annuity . When youre young , you have time in invest in the market . But time cant be the ultimate determining factor . Your risk tolerance profile needs to be established for market investing like in mutual funds or ETFs . The best savings plan , not investment plan , is generally a product suitability item that needs to be profiled . The product suitability for participating whole life or current assumption universal life insurance , as an income source for retirement , is a long term saver with low to zero risk tolerance and no less than a fifteen year annual premium commitment . If designed to comply with TAMRA and maximum cash accumulation , these life insurance policies can deliver tax advantaged income as long as the policy is kept in force for the life of the insured . 