Retirement may seem far away, but it’s never too early to determine how much you’ll need and begin the process of saving. Making smart financial decisions now can help impact how you live in retirement. We can assist you along the way with our Retirement Plans– it’s designed to help you reach your retirement goals.

Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Those responsible for the management and oversight of your retirement plan must follow certain rules for operating the plan, handling the plan’s money, and overseeing the firms that manage the money. You should also understand and monitor your retirement plan and your benefits.

Common Plans Include

• IRAs: Individual Retirement Accounts
  • One of the key benefits of an IRA or any tax deferred retirement plan, is your money isn’t taxed until withdrawn. Instead of paying tax on the returns of an investment, tax is paid only at a later date, leaving the investment to grow unhindered. The second benefit of tax deferral is that investments are usually made when a person is earning higher income and is taxed at a higher tax rate. Withdrawals are made from an investment account when a person is earning little or no income and is taxed at a lower rate.
• Roth IRA
  • Similar to a Traditional IRA except the initial contributions is not tax deductible
  • Interest and earnings from a Roth is not taxable income
  • Flexibility to withdraw your principal contributions at any time without a penalty.

One of the main benefits of working with a licensed professional is not having to memorize all these plans and spend hours trying to figure out which plans fits your needs. We will work with you and help you find the one that fits your current situation and your future goals.

Call  us today if you have any questions;

301 744 9272

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