Retirement plans may be going the way of the dinosaur but the younger generation of today should be aware of the fact that saving more for retirement is the wisest thing to do. Listed below are the simplest, no-nonsense and easy-to-understand retirement savings plans and accounts that one can choose:

Gone are the days when the working class in the country could get the Social Security or an employee pension plan to cover the costs incurred in their later years. Today, planning for retirement has become imperative. There are numerous options out there for individuals to save better to live comfortably later in life.

A 401(k) retirement plan is one of the best tools for working people and employees of a company for creating a secure retirement fund. For employees, the advantages are pretty obvious earnings and contributions to the 401(k) are tax deferred and secondly, employers tend to provide matching contributions to the 401(k) account (ranging from 0-100% of employee contributions).

A retirement plan is an arrangement of financing an individual’s income post his retirement. These plans can be set by the employers, insurance companies, trade unions, government, or any other organization. Tax benefits are provided on investments made on some retirement plans based on provisions of the Internal Revenue Code (IRC) and regulated by the labor department under the ERISA Act.

A person’s life may be counted in years and decades; however, the hard work an individual endures over their life time is for various reasons that is a basic necessity of life. When a youngster steps foot in a workplace for the first time in his or her life, there are a million things running through their heads.

As and when an individual start aging, there are rising needs for health care. With more than 25% of expenses moving towards dental services, it is of utmost importance to take dental care more seriously. Some of the recent reports show that many seniors avoid dental care due to heavy expenses that come with it.