Internet Marketing And Your Old Age

Everybody wants to learn how to make money on the Internet. What about saving money for retirement and your future? If you don't do it, who will? Alan Greenspan, Chairman of the Federal Reserve Bank, recently confronted the U.S. Congress about the cost of future retirement benefits. You may recall the Tom Hanks film, "The Green Mile". This film adaptation of Stephen King's novel provides just a couple of comparisons to current economics and Alan Greenspan. Greenspan's comments before Congress sometimes equal the length of "The Green Mile" ( hours), but his testimony won't evoke tears unless you're a baby boomer, soon to be a Social Security beneficiary. In "The Green Mile", Hanks plays a prison guard charged with the care of death row inmates. He treats each "death row" convict with care and Southern civility. In order to avoid stretching parallels to the movie, I will observe only that Mr. Greenspan, born in New York City (March , ; send him a card) is civil when Congressional Committees question his opinions. "The Green Mile" ends at the hot seat for convicts. Alan Greenspan's February , testimony leads to an economic, political, and social hot seat: Social Security benefits. I suggest you read the full text of his testimony found at: http://www.federalreserve.gov/boarddocs/testimony/// Now to "The Green Span" hot seat comments about Social Security:

We sing Happy nd Birthday to the first baby boomers in % of them may retire at age Everyone's gong to live longer Social Security costs will escalate Funds to pay may not meet the demand

What does this mean to you? Well, it's motivation to make that site sell while saving toward retirement. Further, every site generating cash flow, may do so for years and years, if managed wisely. This means qualifying for retirement does not force you to retire. Cash flows can continue for your life time. However, saving for retirement still makes sense. It saves you taxes now and later. Furthermore, an aging population living longer means Social Security benefits may be reduced when you become eligible. So, start saving now by starting any one of the following methods.

Individual Retirement Account: You may contribute up to $, in , $, in -, and $, in and beyond. When you reach age , "catch-up" provisions allow you to contribute an additional $ in - and $ in and beyond. This means your IRA contribution in may be up to $,. If your Internet web site incorporated, you may have an employer sponsored plan. The Savings Incentive Match Plan for Employees (SIMPLE plan) "SIMPLE plan contribution for amounts to $,. This increases incrementally to an "adjusted" $, in . A SAR/SEP and (k) let you contribute up to $, for (the maximum in is up to $,) Employer sponsored plans also allow "catch up" provisions for workers over age . For example, an employee over age may contribute a "catch up" contribution of $, for (the maximum "catch up" contribution is $, in ).

IRA accounts and employer accounts may be opened at banks and brokerage firms. Check with your tax adviser and financial consultant first. Social Security provides for basic needs during retirement. Make sure your resources permit the lifestyle you want by saving for your retirement now.