Retirement Accounts

Learn About Financial Planning Retirement

There are a myriad of retirement accounts to choose from, and many of them offer employee tax benefits. The most common types include IRAs, Simplified Employee Pensions (SEPs), 401k and 403b plans.

Retirement Account Differences

  • IRA--retirement account that provides tax advantages, depending on the type you select (Roth or Traditional)
  • Simplified Employee Pension (SEP)--IRA-based plan established by an employer on behalf of an employee
  • 401k Plan--account in which employers agree to match employee contributions up to a specified amount
  • 403b Plan--tax-advantaged savings account for non-profit employers and public education employees

Taking Responsibility for Your Finances

Retirement calculators are a helpful tool for estimating the amount of savings necessary to support yourself after leaving the workforce. After determining your retirement figures, set savings goals. Commit to saving a designated amount each paycheck in a mutual fund, IRA or other account. "...Regularly review your benefit statements, making sure that you understand your vested account balances and your employer's contribution amounts." It is also important to develop an understanding of your spouse's retirement program so the two of you can ensure your financial solidarity after retirement.

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Financial Analysis and Retirement Planning in New Orleans, LA

The qualified financial advisers at FBT Investments, Inc. provide investment education, retirement consultation and asset management for individuals and business owners in the New Orleans, LA area. FBT consultants can be reached at (504) 584-5888 or toll free at (877) 809-8400.