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 earlier this year, 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 WiserAdvisor 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 WiserAdvisor 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. For instance, opening a gold IRA with the help of American Hartford Gold, you can invest directly in physical precious metals rather than stocks and bonds.
By signing up with American Hartford Gold, you are also eligible to receive up to $15,000 in free silver, along with a free investors guide to help you decide if this opportunity is the right fit for your retirement strategy.
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.
With Cityfunds, you can own a share of owner-occupied residential properties across booming cities from Los Angeles to Dallas. Cityfunds secures an interest in the home's future value, and as the home value appreciates, so does the value of Cityfunds’ investment.
The platform also covers all setup and transfer fees for qualifying investments of $10,000 or more into your Traditional IRA or 401K. Both of those accounts offer tax-deductible contributions, meaning you’ll reduce taxable income in the year you contribute, and your withdrawals won’t be taxed until minimum distributions (RMDs) begin at age 73.
Then there’s Arrived. The company allows you to invest in real estate through a self-directed Checkbook IRA, meaning you’ll benefit from tax exempt investments.
Arrived makes it easy to fit rental properties into your investment portfolio regardless of your income. Simply browse their curated selection of homes, and once you find a property you like, choose the number of shares you want to buy.
Arrived even offers a unique Private Credit Fund made up of short-term loans which finance professional real estate projects. These projects can include anything from renovations to new builds.
As an investor, you can invest in the Fund, and then earn monthly interest payments on these loans. The Fund has historically yielded a 8.1% annualized dividend.
Finally, Fundrise can also help you invest in high-quality real estate through your IRA.
You can take advantage of an expansive portfolio of alternative investment opportunities spanning real estate, private debt and venture capital. With over two million investors and managing over $7 billion in real estate assets alone, Fundrise is a simplified way to diversify your portfolio with high quality real estate — with the potential of yielding dividends every quarter.
After inputting your financial background and preferences, Fundrise recommends a portfolio tailored to your retirement goals, with quarterly dividend potential. And trusting in a reliable, accredited source (like Fundrise) is crucial to ensuring you don’t make major tax mistakes when planning for retirement. These are challenging decisions to make alone, and finding the right, qualified support is key to feeling confident in the investments you ultimately make for your best financial future.
