We know it’s difficult to make retirement planning a priority, which is why we’re here to simplify the process for you.  As Investment Advisor Representatives we can analyze your financial situation and recommend the best investment vehicles and products for you. Your retirement planning may include a 401(k), an IRA, a Roth retirement account, a Roth conversion account, and your after tax investment accounts.

The primary goal of financial retirement planning is to ensure you have sufficient monthly income to accommodate the lifestyle you want in your retirement  and that you don't outlive your assets. Having a diverse, balanced and complementary investment portfolio is a must.  Another critical component of your financial retirement plan includes integrated tax planning to effectively minimize your income tax burden throughout your retirement. 

Traditional retirement plans, such as 401(k)s, 403(b)s, and IRAs, all use tax-deferred investments to grow wealth for your future. This means you contribute money from your pre-tax income up to the distribution limit. Employer-sponsored retirement plans have much higher contribution limits than IRA, which is why many people use both. Your investments in a retirement account grow tax deferred. When you reach retirement age, you’ll make withdrawals, which are then taxed like regular income.

Saving for your future using the different types of retirement plan offers significant tax advantages. With an employer-sponsored plan such as a 401k, you may also receive matching contributions. We’ll help you manage your retirement portfolio, selecting assets that fit your financial retirement goals, lifestyle, and risk tolerance. 

Roth retirement accounts offer significant tax advantages in retirement. When you contribute to a Roth account, you are not able to deduct the current year's contribution on your tax return. However, 100% of the amount earned, in addition to your contributions, are not taxed when you begin to withdraw from a Roth IRA (as long as the account has been open for 5 years and you are at least 591/2).  Roth conversions from traditional IRA accounts are a very effective option to lower taxes in your future years and increase the overall return on your investment. We can guide you in determining if a Roth conversion is a practical option for you.  

Some retirees make the mistake of treating their retirement account like an ATM. Making withdrawals from your retirement savings without an income distribution plan is a recipe for a financial disaster. We can help you create an income distribution plan, strategically liquidating assets in a way that allows your remaining investments to continue to appreciate. You cannot afford to outlive your assets. 

We can help you navigate your income sources from your 401(k) or 403(b), IRAs, Roth accounts, private investment accounts, and savings. In addition, we will guide you through the myriad of Social Security benefit claiming strategies so that you make the best financial decision when electing to begin your Social Security benefits  Your customized income distribution plan should consider your income taxes, the type of assets you own, and how to best provide a regular income for you. We will also consider if annuities and permanent life insurance are viable options to supplement your retirement income.

How Do I Start Planning for Retirement?
You’ve already taken the first step by finding us. Next, we’ll schedule an appointment to sit down with you and talk about your financial situation, your goals, and your timelines. Then we’ll work with you to select the best retirement vehicles and funds for your needs. We cannot stress the importance of planning for retirement as soon as possible.

What Type of Retirement Income Can I Receive?
Your retirement income will probably come from different sources. You may receive Social Security benefits, 401(k) distributions, IRA withdrawals, and Roth account distributions. You can also use annuities to provide a regular income stream for your retirement years. Finally, you may have a permanent life insurance policy that could provide additional income if needed.

What Do We Do?
We work with you to ensure you’re on track to meet your goals for a prosperous future. We consider the tax implications of every investment decision, but we also ensure your investment portfolio is in line with your goals and timeline. Saving for retirement is difficult enough. You don’t have to figure it all out by yourself. Let us help you by explaining your investment options, the benefits of different investment strategies and customized tax planning to better position you to meet your financial retirement goals.  

Don’t wait to prioritize your retirement planning. Our Investor Advisor Representatives are here to assist you with your financial planning needs. We can help you start planning for retirement, help you catch up with contributions, or streamline your income during the retirement years. Reach out today to schedule an appointment.