Retirement Planning

Retirement Planning for Individuals & Businesses

Defined benefit plans or pensions are no longer the norm. If you want to retire comfortably, you can’t rely on Social Security benefits to cover your living expenses. That’s why it’s so important for individuals to take control of their retirement planning as early as possible. Our financial advisors can help you evaluate your financial strategy to ensure you meet those savings goals for your retirement.

Businesses must also think about retirement planning for their employees. To keep loyal employees long-term, offering a 401(k) retirement plan is a must. Our financial experts can help you set up a retirement plan that works with your cash flow needs and provides an easy way for your employees to plan for their future.

Benefits of 401(k) Planning

An employer-sponsored plan, such as a 401(k) or 403(b), can help you with planning for retirement. Regular contributions over a long period of time will help you build a substantial nest egg for your future. You may even receive additional funds if your employer matches a portion of your contributions. We can help you max out your contributions and even set up an IRA to meet your retirement goals.

Investing your money inside of a 401(k) reduces your taxable income. The investments can grow tax free inside your retirement account until you’re ready to take distributions. With contributions automatically deducted from your paycheck, you can prepare for retirement effortlessly and painlessly. And if you switch employers, we can help you rollover your 401(k) to keep you on track.

Frequently Asked Questions

Most experts recommend investing 10 to 15% of your paycheck into your retirement account. Depending on your goals, you may need to save more or less. If you want to retire early or started saving late, you probably need to contribute more. If you’re a high-income earner, you may not need to save as much.

Most people cannot live on Social Security benefits alone. However, you may receive other income, such as a government pension, which can make up for the difference. Otherwise, you’ll need the distributions from your 401(k) or IRA to fund your lifestyle once the paychecks stop coming. We can help you calculate how much income you can expect to receive. Just make an appointment for a consultation.

To retire early, your investments must support your lifestyle for a certain number of years. You can either increase your retirement savings and other investments to reach that goal sooner, or you can reduce your living expenses, or both. As an alternative to retiring early, you could also consider working part-time to stretch your retirement savings farther. If you want to know how close you are to reaching your goals of retiring early, our financial experts can help.

Let’s Work toward Your Retirement Goals

Whether your goal is to travel the world, spend more time with the family, or start a new business in retirement, we offer the financial expertise to help you get there. Our financial advisors specialize in retirement planning for individuals and businesses. Contact us today to talk about your retirement plans.

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