Our clients enjoy the certainty and satisfaction of knowing no stone will be left unturned. We guard against unforeseen risk and limited knowledge which could derail your lifestyle and desired legacy.
It takes determination, a smart strategy, and a game plan to retire with confidence.
When saving for retirement, it is a good idea to become familiar with all of the investment and retirement plan vehicles available to you.
Thanks to favorable tax laws, your retirement plan assets can now be as mobile as you.
Retirees Face Many RisksClick here to read the article
A Blueprint for Targeting Desired Desired Retirement Outcomes
Preparing for a Successful Retirement
Pay yourself first:
This includes putting the maximum amount into your 401(K) plans and investing additional amounts in IRAs and personal investments.
Put time on your side:
Give your money time to accumulate. The potential earnings – and the annual compounding of those earnings – will build your retirement “nest egg.”
Develop a realistic Budget/Spending Plan:
- It’s not just the accumulation of assets, but also the appropriate spending of the assets that will determine whether you will be able to afford to maintain a comfortable retirement.
- Evaluate your financial records to determine your income and expenses.
Allocate, diversify, and rebalance:
Asset allocation can help you find and maintain financial balance. Retirement investing changes as the years go by. Stay current and review retirement investments regularly with your financial advisor.
Consolidating Retirement Plan Assets
Wondering what to do with your retirement assets when you change jobs or retire? If you have multiple accounts at multiple firms, consider consolidating your retirement assets in one rollover IRA and simplifying your life.
When changing jobs or retiring, you are likely to be preoccupied with plenty of concerns as you prepare for this new stage of your life. In the midst of these major transitions, you will need to make a major decision about how to handle your retirement plan assets. Staying informed and turning to the support of financial advisors could help ensure that you make the best decision for yourself, your family, and your future.
Here are some major potential advantages a consolidated approach offers:
- Preservation of tax benefits
- Potentially more investment options
- An opportunity to allocate, diversify, and rebalance in one portfolio
- Potentially lower fees
- A consolidated statement
IRA / ROTH IRA
- IRAs in general offer a number of advantages. In the case of the Traditional IRA, contributions may be deductible under certain circumstances. In addition, earnings on contributions can accumulate “tax deferred.”
- This is your landing place for retirement plan rollovers. Consider these benefits:
- Tax deferred investing
- Easy access to your assets in an emergency
- Broad range of investment choices
- A Roth IRA, on the other hand, allows earnings on contributions to accumulate tax free past age 70 1/2. Unlike contributions made to a traditional IRA, Roth contributions are not tax deductible. Investors in a Roth IRA will never have to pay taxes on the earnings portion of their contributions, provided the account is at least five years old, and the account owner is at least age 59 1/2 when withdrawals are needed.
- Diversify your retirement account type like you would your retirement investments. This gives you flexibility to take “tax-free” or “tax deferred” income (your retirement paycheck) depending on future tax rates.
What To Bring With You?