Personal Planning

Retirement Planning: Know Where You Stand

IRAs, 401(k)s, Roth conversions, and catch-up strategies — explained without the noise.

Retirement planning isn't just about picking mutual funds. It's about understanding how much you need, how to get there, and how to structure your savings so you keep as much of it as possible.

The biggest mistake most people make isn't starting too late — it's not having a clear picture of what they're working toward. Once you know your target and your current trajectory, the decisions about contribution rates, account types, and asset allocation become much clearer.

Whether you're just starting out, mid-career and feeling behind, or approaching retirement and worried about whether you have enough, The Blueprint covers the questions that actually matter.

What you need to know

401(k) vs. IRA

Your employer's 401(k) is usually the first place to save — especially if there's a match. IRAs (traditional or Roth) give you more investment choices and control. Most people should use both.

Roth vs. traditional

Roth accounts are funded with after-tax dollars and grow tax-free. Traditional accounts reduce your taxes now but you pay taxes in retirement. Your bracket today vs. in retirement determines which is better.

Catch-up contributions

If you're 50 or older, you can contribute extra to your 401(k) ($7,500 more per year in 2024) and IRAs ($1,000 more). These amounts are often missed even by people who are otherwise on top of their savings.

The 4% rule

A common guideline suggests you can withdraw 4% of your portfolio per year in retirement without running out of money over 30 years. That means a $1M portfolio supports about $40,000/year in withdrawals.

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