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OUR SERVICES  |  Retirement Planning

Retirement planning involves evaluating your current financial standing and creating an accumulation strategy that will help to ensure a desired retirement lifestyle.  Because an individual's retirement years can span decades, retirement planning generally dominates other financial goals.  A successful plan that is put into place during the wealth-building lifespan should address ways to maximize growth and tax-efficient distributions.  It should also address how to leave retirement assets to the next generation.  There are several ways to save for retirement:

  • Qualified employer-sponsored plans (e.g., 401(k), 403(b), SIMPLE, SEP)
  • Individual retirement accounts (e.g., Traditional IRA, Roth IRA)
  • Personal savings
  • Executive deferral plans

Qualified plans are employer-sponsored retirement plans such as 401(k)s and pension plans.  While there are contribution limits and strict distribution rules, these plans are popular because of their tax benefits.  Generally, employers will make participation even more attractive by matching all or a portion of an employee's contribution.  It is important that you choose the optimum plan to benefit the key people in your company.

IRAs are inexpensive, easy to establish and maintain, and also offer favorable tax incentives.  IRA's can be created by an individual or provided by an employer.  Most people use IRAs to consolidate retirement savings that were previously held in employer-sponsored plans.  Our process coordinates your IRA investments with your other savings plans.

You may find that qualified plans, IRAs, and social security won't provide enough money to support your desired retirement lifestyle.  By identifying your retirement gap, you can develop a strategy for personal savings to be invested outside of the traditional retirement vehicle.

Business owners or executives may have access to other tax-advantaged retirement-savings vehicles.  Nonqualified executive compensation is a generic term used to describe a compensation arrangement that provides retirement income -- and in some cases, death benefits -- to key employees of a business.

At the heart of any retirement plan is the distribution of accumulated assets.  The correct distribution method will help to ensure that your retirement savings last beyond your lifetime with minimum shrinkage from taxes.  From premature distribution options that allow access to retirement assets prior to age 59-1/2 to products intended to provide stable monthly payments for retirement, distribution planning is paramount to a successful retirement plan.

If you'd like to know more about 401(k) Planning

We'd be glad to talk with you further or answer any questions you may have about retirement planning.  Please call us at 503-227-2163.