Are you Ready for Retirement?
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Last Modified
on
Mar 12, 2025
When Social Security was created, it was meant to supplement a person’s other retirement savings. Too many Americans today, however, do not have other retirement savings and do depend on Social Security as their only income in retirement. Many of those who had retirement savings were forced to tap into those accounts during the recession in the early 2000s and have not been able to rebuild their retirement accounts. It’s not too late; take steps now to save something for your retirement.
There area number of options available for retirement savings. For those whose employers offer a 401(k) or similar program at work, participation in those programs offer great tax advantages. There are traditional Individual Retirement Accounts (IRA) that offer tax savings now or Roth IRAs which offer tax savings later. If you own your own business there additional opportunities and programs available to you. Depending on your income level, you may even qualify for a small tax credit called the “Savings Credit”.
About the author:
Ken R. Ashworth
Founding Attorney of Ken R. Ashworth & Associates
Ken R. Ashworth is the Founding Attorney of Ashworth Law in Henderson, Nevada. He focuses his practice on asset protection, business litigation, estate planning, and tax litigation. Ashworth has practiced law since 1992 and is admitted to the State Bar of Nevada. He earned his J.D. from Pepperdine University School of Law in Malibu, California, in 1990. His work includes advising clients on legal matters involving businesses, estates, asset protection, and tax disputes.
