A retirement savings plan allowing employees to save a portion of their paycheck before taxes, often with employer matching.

Individual Retirement Account; a tax-advantaged account for retirement savings, with traditional and Roth options.

An IRA where contributions are made after tax, allowing tax-free withdrawals in retirement under certain conditions.

An IRA where contributions may be tax-deductible, but withdrawals are taxed as income during retirement.

A government program providing financial assistance to retirees, based on earnings history and age at claiming.

A plan outlining how to allocate assets in a portfolio to achieve specific financial goals.

The practice of spreading investments across various assets to reduce risk.

The effects that taxes have on investments and withdrawals from retirement accounts.

A plan for how to take money from retirement accounts to meet living expenses while minimizing taxes.

An individual's capacity to endure fluctuations in investment values without panic.

A collection of financial investments like stocks, bonds, and cash equivalents.

A contribution made by an employer to an employee's retirement account, matching a portion of the employee's contribution.

The desired way of living during retirement, encompassing activities, travel, and spending habits.

Preparing for unexpected expenses or financial challenges that may arise during retirement.

Expenses related to medical care that retirees need to consider in their financial planning.

The peace of mind that comes from having sufficient resources to meet future financial needs.

Reductions in tax liability that can lower the amount owed to the government.

Expenses that can be subtracted from gross income to reduce taxable income.

Assets held for more than a year, generally aimed at achieving capital growth.

Assets held for a year or less, typically aimed at liquidity and quick returns.

Adjusting the proportions of assets in a portfolio to maintain a desired risk level.

Criteria that must be met to qualify for certain retirement accounts or benefits.

The age at which an individual begins to receive Social Security benefits, impacting payout amounts.

Social Security benefits available to a spouse based on the other spouse's earnings record.

A detailed strategy outlining specific steps to achieve financial goals.

Evaluating different investment options to determine the best fit for retirement needs.