Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Which retirement plan is best? The one that you actually do. It is more about the habit of saving than anything else. Developing a savings habit will aide anyone in retirement. Waiting for the optimal plan "before" you start saving is sort of an excuse I hear many times from people who aren't savers. They fail to set aside funds for the future in any form because it isn't of value to them yet.
There are many retirement plan choices, there is no "best" as putting zero dollars aside ends up with zero saved. The "best" plan is the one where you decide to save and contribute money to.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The best retirement plan is one that someone else paid the cost. It is even better if it meets you needs. It is even better if it is “inflation adjusted” to meet with changing needs in the future. This question should probably be, “What is second best?” Second best is a plan established by your employer to which the employer contributes money and you can contribute money on a tax deferred basis. That means that you don’t pay income tax today on the money you put into the plan.
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There are many retirement plan choices, there is no "best" as putting zero dollars aside ends up with zero saved. The "best" plan is the one where you decide to save and contribute money to.