10 reasons your retirement plan won’t cut it

Food for thought from Robert Klein, CPA, PFS, CFP®, RICP®, CLTC, MBA, MST, the founder and president of Retirement Income Center, a retirement income planning firm in Newport Beach, Calif.
1. Most plans aren't designed to provide sustainable retirement income

2. Unable to count on a specific amount of income

3. Lack of uniform contribution amounts

4. Limited allowable contribution amounts

5. Real value of retirement plans is insufficient to cover retirement expenses

6. Most people don't contribute enough

7. Most people don't start early enough

8. Number of funding vs. retirement years  

9. Retirement plan investing is disrupted in down markets

10. Premature withdrawals

You may not have much to say about 1-5 but you can address the other downsides by:

• starting a ROth IRA today or boosting your IRA &/or 401(k) contributions
• start today and help your young adult children start a Roth
• work longer
• dollar cost average automatically and keep it up through the gloom of bear markets
• Don't tap your retirement accounts early!  
• Read the details of Klein's comments at:  http://www.marketwatch.com/story/10-reasons-your-retirement-plan-wont-cut-it-2013-10-07?pagenumber=1