Which Retirement Plan Is The Best?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   There is no retirement plan that is the best. But there are a few steps to help you arrive at a decision. The first step is to establish what your effective tax bracket is to determine if you should set up a qualified or non qualified plan. If your tax bracket is low, the deduction may not be as valuable in a qualified plan as the flexibility of a non qualified plan. You also want to assess your risk tolerance to help you select suitable investments that meet your financial profile. Another consideration is whether to set an individual plan or participate with a plan at work. Some employers match portions of your contributions, so it's important to thoroughly examine your options.

   Answered on August 10, 2013

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