Investing for your future

So you are getting older and you have not even thought about retirement income. There are several ways you can plan for a steady income. You could save like mad and try to have enough tucked before you reach the age you can no longer work or you could make it easier on yourself. Here are a few tips on how to provide that retirement income you will need:

• Invest yearly into a personal IRA account 
• If your job offers a 401K plan and matches your contribution - take their money. Invest as much as you can.
• Look into the various types of life insurance plans that you can cash out at retirement age.

That last one, not many people know about. My husband has one and will be worth more than a cool million by the time he reaches 65. He started the plan about 25 years ago. The monthly life insurance rate was $104 a month and had a disability clause in it. Should he become disabled, the $104 payments would be paid by the insurance company. After 15 years of payments, he used the disability clause. It was the best investment he ever made. Should he die before he retires and cashes out the plan, I will get $100K as beneficiary.