Retirement Planning

 

Retirement Planning is not a "one size fits all" type of proposition, and people have different needs depending on different life situations and circumstances. One of the following solutions could potentially become part of a retirement plan:

 

401(k) Plan:  A self-directed, qualified retirement plan established by an employer to provide future retirement benefits for employees. Employee contributions are made on a pre-tax basis, and employer contributions are often tax deductible.

 

Traditional IRA:  A tax-deferred savings account that has several investing options and is set up through an investment institution. For instance, an IRA can include stocks, bonds, mutual funds, cash equivalents, real estate, and other investment vehicles.

 

Roth IRA:  A tax-favored financial vehicles that enable investors to save money for retirement. They differ from traditional IRAs in that taxpayers cannot deduct contributions made to a Roth. However, qualified Roth IRA distributions in retirement are free of federal income tax and aren’t included in a taxpayer’s gross income

 

Self-Employed Retirement Plan:  A tax-deferred retirement savings program for self-employed individuals. In the past, the term "Keogh plan" or "H.R. 10 plan" was used to distinguish a retirement plan established by a self-employed individual from a plan established by a corporation or other entity. However, self-employed retirement plans are now generally referred to by the name that is used for the particular type of plan, such as SEP IRA, SIMPLE 401(k), or self-employed 401(k).

 

Retirement Income Planning: Preparing for retirement is easier with the help of the guaranteed^ lifetime income annuity products. You can select an immediate annuity that pays income right away, or a tax-deferred fixed annuity that allows you to set aside money until you need it1. Either way, you will be assured a steady, dependable source of income for life.

To learn more about the products and services we offer, please feel free to give us a call or request a free consultation. We'll be happy to answer all your questions.

 

^Guarantees are backed by the claims-paying ability of the issuer.

1Early withdrawals may incur charges. In addition to paying income taxes that may be due, distributions from annuities before age 59 1/2 may also be subject to a 10% federal tax penalty.

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