Be Money Smart - Learn Financial Literacy

Saving for retirement is a challenging task. You’re funding your future while paying for your present. Throw in inflation and possibly unexpected expenses, such as caring for ailing parents or losing a job, and retirement planning can be stressful. But that’s why you should start planning for your retirement as early as possible because you’ll need time — and information.

What’s the best way to save for retirement and how much should you be saving for the future? What’s the difference between Roth and traditional IRA? Should you buy an annuity? These questions and more are answered here in a way that can help you make a plan for your financial future so you can retire when you’re ready.

Learning how to plan for retirement doesn't have to feel overwhelming. The various retirement plans available are easier to understand than you might think, although each is subject to its own limitations. Some of these limitations depend on your modified adjusted gross income, while others involve a cap on the amount of money you can contribute yearly.

Use a retirement calculator to explore your options and find ways to get the most from your 401(k).

The Financial Literacy and Education Commission's vision is of sustained financial well-being for all individuals and families in the U.S. In furtherance of this vision, the Commission sets strategic direction for policy, education, practice, research, and coordination so that all Americans make informed financial decisions.

Whether you're a seasoned investor navigating the complexities of the market or a curious beginner just starting to learn about investing, it's crucial to understand some basic vocabulary. The world of finance uses a lot of terms that might be unfamiliar, like "bull market, "derivatives," or "prospectus," and you'll need to know the language to comprehend financial data and make smart investments in the stock market.