Certified Expert Advice

Knowledge Is Power

A Series Of Guides To Everything Retirement Related

One-Stop Retirement Advice

When it comes to retirement, you have unique needs and objectives. Determining your financial requirements and the best means to achieve them is an important step. It’s critical to partner with the right financial professional – someone who is not only knowledgeable and experienced, but who can serve your needs with a versatility of financial solutions.

let's talk strategy

Determining your financial requirements and the best means to achieve them is an important step.

Secure Your Assets

If you’re ready for personal guidance, I invite you to connect with me for a no-obligation initial consultation.

Recession-Proof Your Investments

It's more important than ever to ensure your investments won't be affected by the market.

Plan Ahead

Increase Savings

There are many factors to consider when developing a retirement income plan. After all, everyone has different retirement needs and goals, and your plan should reflect your own individualized requirements.

Get certified advice

financial expertise

You don’t know what you don’t know…and that’s exactly why I’m here. To make sure you are as well-versed with your options and investment strategies as I am. My goal is to make you as self-sufficient as possible.

Ask The Right questions

Initial Questions

A good start to creating a successful retirement plan involves careful analysis.

I'm here to help you

Ask me Anything

There are many retirement vehicles available, including:

  • Traditional and Roth IRAs
  • Employer-sponsored retirement plans
  • Non-qualified deferred compensation plans
  • Stock plans
  • Annuities 

Proper retirement planning requires an understanding of the workings of these tools, and an understanding of how they may be taxed. 

This is especially important since the enactment of the Jobs and Growth Tax Relief Reconciliation Act of 2003. This initiative reduced the capital gains tax rates on certain dividends, making the decision to allocate assets inside or outside a retirement plan more crucial. Another thing to keep in mind is if you plan to pay for your child’s education, you will need to learn how to balance two competing financial needs.

You should become familiar with the possible ramifications of distributions, which may include a 10% premature distribution penalty tax if distributions are made before you reach the age of 59.5. There are certain questions you will need to answer.

  • Can you borrow money from your retirement plan?
  • Would it be better to receive your retirement money as a lump sum or as monthly payments?
  • Can you roll your retirement plan balance into an IRA?
  • What are the tax implications of naming more than one beneficiary, if you are allowed to do so?
  • What are the required minimum distributions, if any, from the plan after you reach age 70½?

If you’re self-employed or a small business owner, you know that your needs are different from those of large companies. Several types of retirement plans are specifically designed for your situation. Consider setting up one of the following types of plans:

  • Payroll deduction IRA plan 
  • Simplified employee pension (SEP) plan
  • SIMPLE IRA plan
  • SIMPLE 401(k) plan
  • Keogh plan 

A Keogh plan is a qualified retirement plan established by a self-employed individual or partnership. Consulting with a qualified financial professional may help you determine the best solution for your needs.

If your business has multiple employees, one of your goals in choosing a retirement plan should be to balance their needs against the needs of your business. Consider the following retirement plan options:

  • Payroll deduction IRA plan
  • Simplified employee pension (SEP) plan
  • SIMPLE IRA plan
  • SIMPLE 401(k) plan
  • 401(k) plan
  • Profit-sharing plan
  • Money purchase pension plan
  • Age-weighted profit-sharing plan
  • New comparability plan
  • Thrift/savings plan
  • Defined benefit plan
  • Employee stock ownership plan (ESOP)
  • Cash balance plan

A tax-exempt organization has unique considerations for setting up a retirement plan because isn’t subject to federal income tax. An employer tax deduction is of little value, for example. There are two types of plans which meet the needs of tax-exempt organizations: a 403(b) plan or a 457(b) plan.

You should also consider setting up a non-qualified deferred compensation plan, a flexible plan which does not need to satisfy stringent requirements. You and your employees could also receive greater benefits under a non-qualified plan because there are no limits on employer contributions.

Non-qualified plans do have three disadvantages:

  • They may not be as beneficial from a tax standpoint
  • They may only be available for a select group of employees
  • The assets within are not protected if the employer goes bankrupt

For these reasons qualified plans usually appeal more to employers than employees. Also, if you are an owner and wish to be included under the plan, a non-qualified deferred compensation plan will only be suitable if your business is a regular or Corporation.

There are four main sources for retirement income:

  • Social Security
  • Pensions or other retirement vehicles
  • An investment portfolio 
  • Personal savings

If your employer provides early retirement packages to its employees, you’ll need to know how to evaluate such packages from a number of perspectives. If you think your current income will not provide you with your desired retirement lifestyle, there are steps you can take now to change your circumstances.

I strive to secure my clients future

So, let's be happy together