Looking for retirement options? How best to invest for your future? Here is our guide to protecting your future...

People are living longer and a high percentage of Americans do not have adequate savings to last them in their retirement. You may be entitled to social security benefits but this most probably will not cover your financial needs.

Most people are not sure what they will actually need for a comfortable retirement and often underestimate the amount of savings they will require. It is advisable, as a guide to have available around 80% of your pre-retirement income to maintain the same lifestyle. It is a good idea to make contact with a Financial Advisor who will work out a Personal Retirement Plan for you. They will be able to advise you of the possibilities available and you can discuss with their own personal requirements and expectations to enable them to design a plan personal to you.

There are plenty of options to help you save and make the most of your money by making the right choices and investments.

Investments

Most employers have the option for you to put your money into a retirement account. Your money will grow tax-free until you withdraw it in retirement. Depending on the plan you chose, either a traditional or Roth option, you won't have to pay taxes on the money you put into the plan or the money you withdraw from the plan.

Tax-advantaged and taxable accounts are two other ways you can save. A tax-advantaged account is a popular option to help save for your retirement. It will provide you with a tax benefit such as tax-deferral or tax exemption. With a taxable account, you can invest in assets like stocks, bonds, and mutual funds. As your fund grows in value based on the stock market's performance, you'll owe taxes each year on your investment income.

Mutual Funds

A mutual fund is a company that puts together money from many investors and invests the money in for example stocks, bonds, currency, and short-term debt.  As an investor, you buy shares in mutual funds and you will build yourself a portfolio. Mutual funds are extremely popular in the United States and there is a vast array of choices available to make an investment. A mutual fund can make a good long-term investment, you may see your money go up and down depending on the market and there is also a chance that you may lose money.

What are the best mutual funds to invest in right now?

• Fidelity ZERO Large Cap Index (FNILX) The Fidelity ZERO Large Cap Index mutual fund is part of the investment company's foray into mutual funds with no expense ratio, thus its ZERO moniker. ... 

• Vanguard S&P 500 ETF (VOO) ... 

• SPDR S&P 500 ETF Trust (SPY) ... 

• iShares Core S&P 500 ETF (IVV) ... 

• Schwab S&P 500 Index Fund (SWPPX)