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Planning for Retirement with Confidence

Retirement should be a time of freedom, not financial stress. After decades of hard work, your golden years deserve thoughtful preparation and a clear financial path forward. With the right planning, you can enjoy a secure future and create lasting peace of mind for yourself and your loved ones.

What Will It Take to Retire Comfortably?

Many Americans avoid calculating how much they’ll need in retirement—but having a number in mind is essential. While financial advisors often recommend saving 15–20% of your annual income, that’s not always realistic.

As a starting point, aim to replace around 60–70% of your annual pre-retirement income. This can come from a mix of:

Social Security
Pension plans (if applicable)
IRA and 401(k) distributions
Savings and investment income (dividends, rental income, etc.)

Don’t forget to factor in both recurring expenses (like mortgages, insurance, and property taxes) and discretionary spending (like travel or hobbies). If you have big plans for retirement, you’ll want to build in more income and reduce debts early.

Another approach? Estimate your total annual expenses in retirement and multiply by 30 years. Add a buffer for emergencies, and you’ll have a practical savings goal to aim for.

When Should You Start Saving?

The earlier, the better. Starting young gives compound interest more time to grow your wealth—and no one regrets having saved too much. Even modest contributions in your 20s or 30s can make a huge difference later on.

IRAs are a powerful tool for retirement savings thanks to their tax benefits. As of 2024:

You can contribute up to $7,000 annually if you're under 50
Up to $8,000 if you're over 50

Your team at American Alternative Assets is here to help you make the most of your IRA contributions and explore options for physical precious metals.

IRA Contribution Limits & Deadlines

For traditional and Roth IRAs, here’s what you can contribute in 2024:

$7,000 per year if you're under 50
$8,000 per year if you're 50 or older

If you're self-employed or own a small business, a SEP IRA allows contributions up to $66,000. These can be made alongside your traditional IRA contributions.

Contribution deadlines:

April 15 if applying funds to the prior tax year

January 1–December 31 for the current tax year

Social Security replaces part of your income in retirement.
Your benefit amount depends on work history. claiming age, and current Cost-of-Living Adjustment (COLAs).

Key points

Eligibility

Earn 40 work credits-typically 10 years of covered employment.
Full Retirement Age (FRA)
- Born 1943-1954: 66
- Born 1960 or later: 67
Claiming early vs. waiting
- Start as soon as age 62 and benefits drop up to 30%.
- Wait past FRA and earn delayed credits-up to 8% extra year until 70.
Spousal and survivor benefits
- A lower-earning spouse may receive up to 50% of the higher earner's benefit.
- Widowed spouses can step into the higher benefit.
Taxation
- Combined income over set thresholds makes up to 85% of benefits taxable.
- Managing IRA withdrawals and other income can keep you below those lines.
Cost-of-Living Adjustments (COLAs)
- Annual COLAs aim to match inflation, but purchasing power still erodes over time-one reasons many
- retirees add asssets that rise with prices.

Putting it together

Pairing predictable Social Security checks with a self-directed IRA holding inflation-resistant metals can create balanced income: steady cash flow plus growth potential.

American Alternative Assets can help you map out withdrawals, benefit timing, and portfolio moves so each piece supports the others.

Why Inflation Matters

Inflation erodes purchasing power—what a dollar buys today won’t stretch as far in the future. For example:

In 1958, a movie ticket cost $1. Today, it averages over $10.
A loaf of bread that cost 10 cents in the 1900s now runs close to $2.

Over time, rising prices can take a serious toll on fixed-income retirees. That’s where precious metals come in. Gold, in particular, has a strong history of holding—and even gaining—value during inflationary cycles. Adding physical gold to your retirement strategy can help preserve your wealth across generations.

Need Help Planning Your Future?

You don’t have to navigate this alone. Our team at American Alternative Assets can walk you through retirement planning strategies, IRA contribution rules, and how to protect your savings with real, tangible assets like gold and silver.

Let’s plan your future with purpose.

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