Top IRA Funds to Consider for a Secure Retirement in 2020
Discover the top IRA funds for 2020 to enhance your retirement savings. From target-date funds to index and growth options, these choices can help diversify your portfolio and secure your financial future. Remember to research thoroughly and consult professionals for personalized advice.
Top IRA Investment Options for a Secure Retirement in 2020
An Individual Retirement Account (IRA) offers a strategic way to bolster your retirement savings. These accounts come with tax advantages, allowing your investments to grow tax-deferred until withdrawal. Many people rely solely on employer-sponsored plans, but these might not be sufficient for your retirement needs. Opening a Roth IRA provides an excellent opportunity to supplement your savings and invest independently for your future.
Anyone earning income can open a Roth IRA.
Here are some of the best IRA funds for 2020:
Target Retirement 2050 Fund
Designed as a lifecycle fund, it starts with stocks and gradually shifts toward bonds as retirement nears. It balances risk and growth, making it suitable for long-term investors with a 'buy and hold' strategy.
500 Index Fund
Focusing on the top 500 large-cap American companies, this fund closely tracks the performance of the US economy, making it an excellent choice for broad market exposure.
Buffalo Discover Fund
A growth-oriented fund that invests in small and mid-sized companies, managed with disciplined research to generate higher returns.
JP Morgan Smart Retirement Income Fund
Targeted at near-retirees, this fund aims to provide capital appreciation while delivering consistent income by diversifying across various asset classes, with an emphasis on fixed income assets.
MFS Lifetime Income Fund
This fund offers a stable income stream while expanding funds through a mix of stocks and bonds, primarily consisting of corporate and US Treasury bonds for steady growth and income.
