Retirement Planning
How do you want to spend your retirement? Are you planning to travel or pursue that hobby or spend time volunteering or even adopt a more flexible work schedule? The opportunities are boundless. Do have a retirement plan that will help you fulfill your dreams?
Planning for retirement requires answering some key questions:
- How do I envision my lifestyle in retirement?
- How will I fund my retirement?
- Where will these funds come from?
- What is the best way to invest my retirement savings?
Unfortunately, many people give very little thought to how they will fund their retirement. They hope that contributing to their 401(k) along with Social Security will be sufficient. It is not unrealistic to expect to live 30 years in retirement. How much will you have to save each month during your working life so that you don’t outlive your assets?
We set retirement planning within the context of total wealth management. Our detailed analysis of your unique situation involves estimating how much income you will need annually during retirement, taking account of your required standard of living, life expectancy and inflation. Some costs, such as health-care-related expenditures, have been increasing much faster than the overall inflation rate.
We help you devise a comprehensive plan which when implemented and carefully monitored helps to ensure your future security and peace of mind. Our approach to investing your savings is to construct a diversified portfolio which will reduce your exposure to the up and down fluctuations of the stock market.
There is a confusing array of retirement saving vehicles available. The alternatives include Pension and Profit Sharing plans, SIMPLE Retirement plans, SEPs, IRAs, Roth IRAs, Keogh plans, Tax Deferred Annuities and 401(k) plans. We assist you by providing answers to such questions as:
For Employers and Owners - Retirement Plan Services
- Which type of plan will allow me to maximize benefits to employees without placing an unmanageable cash restraint on my business?
- Which employees must be covered in the plan and when are they vested?
- What is the maximum annual deductible contribution for my business? By what date must the contribution be funded? Is a contribution required every year?
- How easy is it to administer a plan? Is an annual tax return required?
- What are the consequences of a plan where contributions are allocated in proportion to some multiple of compensation and age or years of service?
For Employees and Self Employed Individuals
- What is the tax benefit of my contribution? What amount am I eligible to contribute this year?
- What is the tax benefit of my contribution? What amount am I eligible to contribute this year?
- What is the impact of an employer provided plan on an employee IRA contribution?
For Individuals Receiving Distributions
- At what age may I withdraw funds without penalty? What happens if contributions are withdrawn prior to retirement? Under what circumstances are withdrawals allowed without penalty?
- What are the advantages and disadvantages of rolling the distribution into an IRA?
- What strategies are available to delay distribution as long as possible so that my money is working for me and my family?
It is time for a retirement check-up!
Give us a call at 847-888-8600.
