Ask your team for information

Learn the right questions to ask

Be sure to ask questions of your retirement strategy team. If you work for a company, a great place to start is by talking to your employer or your union. If you’re self-employed, you can seek outside professional information. Here are some of the key questions to ask.

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Your employer:

  • Does the company offer a retirement plan?
  • Does the company contribute to or match employee contributions to the plan?
  • Does the company offer an automatic payroll deduction option so I can spread my contribution throughout the year?
  • What retirement benefits will I receive?

Your CPA or tax advisor:

  • Which retirement income sources should I spend first in order to minimize my taxes?
  • At what age can I begin withdrawing money from a tax-deferred savings plan without incurring a penalty? (Currently, the answer is age 59½.)

Your investment advisor:

  • How much can I realistically expect to earn on my investments? (Remember: investing always involves risk and there are no guarantees. Some investments carry more risk, and more potential reward, than others.)
  • How should I allocate my assets to manage my income in retirement while seeking continued growth for my savings?

Note: If your employer offers a retirement savings plan, try to contribute to it. If your employer contributes, keep in mind that their contributions can vary year to year, so check with your employer at the beginning of each year.

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