When you’re saving for retirement you want to stick to items that will give you plenty of long term growth. This growth does not necessarily need to be very large, but it is going to need to be steady so you can predict exactly how much you are going to have on hand when you decide it is time to stop working.

The assets you pick to start saving for retirement will change based on when you have started saving. People who started preparing at a young age will be able to pick a much larger range of items while people who are closer to retirement age may need to select assets that are a bit more aggressive.

A good place to start your retirement planning is by investing in accounts that are specifically designed to create retirement income. An IRA account offers a great deal of long term growth that is steady and tax-deferred so you don’t have to worry about losing out on your investment. Most retirement accounts also have a rollover policy so you can always move your assets into another account if you wind up changing your mind about how you would like to structure your retirement portfolio.

In general, you want to set up assets that will allow the principle of your account to grow while you live off the interest. Dipping into the principle of your account will lower the amount your account can make, which then limits your monthly budget. People often recommend that you invest a main portion of your retirement income in investments like mutual funds or a trust and keep your stock investments between one and two thirds of your accounts. When you do invest in riskier ventures like stocks you want to look at their long-term success and stability to ensure that they are likely to stay in business when it comes time for you to retire.

Of course, there’s plenty of options with a self directed IRA and that’s exactly why we want to put you in control. With such a large range of options of what you can do with your IRA, no one can decide how you should care for yourself in retirement better than you.