Although you might thing retirement is a distant concern for you, sooner than you think it could be creeping up on you. Whether it is near or far for you, you need to get started saving for it immediately. Still, saving for retirement isn’t what it used to be with the higher cost of living and the uncertainty of social security. You have to protect your retirement, as opposed to wishing and hoping for it!

You can begin by taking a look at the retirement plan available at your workplace. Once upon a time, these plans were doing quite well. Yet, after the massive shifts in the economy and all that followed, investors aren’t as secure in their company retirement plans anymore. If you decide not to invest in a company retirement plan, you have other alternatives.

First, keep in mind that you can always invest in bonds, stocks, certificates of deposit, mutual funds, and money market accounts. Your investments can build and be used for retirement purposes, although the account won’t have tax advantages.You do not have to state to anybody that you have investments you will use for retirement. Just keep letting your investments grow overtime, and reinvesting and allowing your money to your money grow.

You can also open an Individual Retirement Account (IRA). IRA’s are quite popular because your funds are not taxed until you withdraw the funds from the account. You may also protect the contributions to an IRA from the taxes that you are responsible for paying. An IRA can be opened at most banks and investment companies. In addition to the IRA is the ROTH IRA. For the Roth account, you contribute after tax money, but when you cash out, you don’t owe taxes on the withdrawal. Roth IRAs are offered by most banks and brokers.

Another kind of retirement account is the 401(k). 401(k) accounts are usually offered through employers, but there are some instances when you may be able to open a solo 401K account. Talk to an accountant or financial planner to find out what works for you. Other types of self employed retirement plans are Keogh plans, SEP-IRA and SIMPLE accounts.

Whichever retirement investment you pick, at least be sure to choose one! Don’t depend on social security, company retirement plans, or even winning the lottery! Take care of your financial future by investing in it today.

Can’t decide where to invest today with your IRA account? Check out the options you have for building your retirement IRA account into a profitable portfolio.