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 put
into place during the wealth-building lifespan should
address ways to maximize growth and tax-efficient distributions,
as well as how to leave retirement assets to the next
There are several ways to save for retirement:
- qualified employer-sponsored plans,
- individual retirement accounts (IRAs),
- personal savings, and
- 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's important that you
choose the optimum plan to benefit the key people in
IRAs are inexpensive, easy to establish
and maintain, and also offer favorable tax incentives.
They 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 invested outside of the traditional
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 ½, to products
intended to provide stable monthly payments for retirement,
distribution planning is paramount to a successful
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