Ch 10: Retirement Savings & Income Planning for Individuals

1. Retirement Planning: Steps & Calculating Needs

In this lesson, we will examine considerations involved in planning for retirement. Additionally, this lesson will review the amount of income that retirement investing should provide, as well as how to calculate that approximate amount.

2. Social Security: Legislation and Issues

Passed as part of the New Deal in 1935, the Social Security Act established benefits for retired and unemployed people. This lesson generally explains the Social Security Act and the Federal Insurance Contributions Act.

3. Medicare and Medicaid: Definitions & Functions

This lesson will teach and define what Medicare and Medicaid are, what they are for, what they provide, and for whom they were established for. We'll also cover the four main parts of Medicare.

4. Sources of Income in Retirement

In this lesson, learn several key ways that older adults pay their bills after retiring from work. You'll see how people can have different experiences in funding their retirement.

5. Understanding Retirement and Pension Plans

Businesses use many different types of retirement plans for their employees. Two of the most common are pension plans and 401(k) plans. This lesson discusses these two kinds of retirement plans.

6. What is a Qualified Retirement Plan? - Rules & Options

This lesson includes an overview of qualified retirement plans, including explanations of the two types (defined benefit plan and defined contribution plan), rules, and options regarding withdrawals, and penalties.

7. Traditional IRA: Definition & Benefits

This lesson covers the definition of Traditional Individual Retirement Account (IRA), features of a traditional IRA and its benefits for retirement planning and taxes.

8. What Is a Roth IRA? - Definition, Rules & Benefits

Explore the concept of a Roth IRA - an account that can potentially lead to tax-free growth. This lesson will define a Roth IRA and explain the associated rules and benefits.

9. Tax-Advantaged Retirement Investments: Types & Definitions

Many employees are familiar with IRAs and 401(k) retirement plans. But investors wishing to maximize the use of tax-advantaged accounts for retirement have more options than just those two. Let's review a few investments that offer tax advantages.

10. Required Minimum Distributions for Retirement Savings Accounts

In this lesson we will review when a retiree must withdraw funds from a retirement savings account, and how much they must withdraw, as part of the required minimum distributions mandated by law.

11. Retirement Income Withdrawal Strategies

In this lesson, we will discuss various retirement income withdrawal strategies that can be used to generate the most income and minimize the impact of taxes.