It might surprise you that over 50% of our work comes from helping people with their retirement accounts. These funds are typically referred to a "Qualified Money" because those dollars qualify under the US Treasury rules allowing the tax payer to park money before taxes and grow that money tax-deferred.
Here are some of the more popular qualified accounts you might be familiar with:
IRA, 401(k), TSA, 403(b), Simple, SEP, Defined Benefit and Defined Contribution Plans.
As you enter retirement, it is wise to consider the level of risk you are comfortable with. Protecting the resources you have worked hard to accumulate provides peace of mind and a predictable base. This allows you to plan with more certainty for the future. We offer a number of guaranteed solutions that may help you create a more stable environment for your money and also include attractive income plans that could help you supplement your retirement income. It is important to plan before making any financial decision.
Make sure you have all the details and costs associated with any product or strategy.
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You may have heard that by properly designating your beneficiaries, it is possible for you to "stretch" your IRA to the next generation and beyond. Simply put, this allows tax deferral to continue for as long as possible under the law allowing your money to work harder and longer than ever before. For many families, this can mean 3 to 4 times as much money going to the heirs from the IRA.
We can help "stretch" your IRA to the maximum benefit if you desire. Just call us.
Adding an annuity to your retirement planning strategy can make a big difference in two ways. First, there is the real benefit of having income you can count on for the rest of your life. Second, there is the benefit of simply knowing you'll have income for the rest of your life—that's called peace of mind. And you can enjoy that now.
Although the Roth IRA is still a qualified plan, we like to put this in a separate category as funds placed properly into a Roth IRA begin to grow income tax-free.
Many American's believe tax rates will be higher in the future. This has led some to consider the value of converting to a Roth IRA. By converting now, you pay your taxes today. Then, your Roth and all future growth accumulates federal income tax-free. Imagine a 0.0% tax rate on your future growth and withdrawals. Before converting to a Roth IRA, you should do research about the tax impact and also evaluate your risk tolerance along with your personal goals and objective.
Where you place your money makes a difference and we can help you understand the benefits and costs associated with your long-term decisions.
Like a traditional IRA, the Roth IRA can be stretched over the life expectancy of your heirs. This means you can grow money federal income tax-free for as long as possible under the law. That can stack up into quite a legacy.
When you are near or in retirement, many people consider converting their 401(k) into a fully portable IRA allowing you to regain control of where you place these hard earned dollars. Within an IRA, you have many options. This is an important time to consider the best place to allocate this money and what you intend to do with these funds. Planning now provides peace of mind that your resources will perform as you desire and you can enjoy a prosperous retirement. Contact us. We have helped many people make transition with very little effort.