Retirement Planning

Defining Your Retirement Goals

Defining what retirement looks like for you is the first step. We work closely with you to uncover what truly matters for you in this next stage of life, whether it's spending time with family, traveling, or developing new passions.

This tailored approach ensures that our planning aligns with your individual goals and vision for the future.

Building and Aligning Your Investment Strategy

Once your retirement goals are defined, we facilitate a seamless transition of your accounts to our broker-dealer and work to align your investment portfolio with your true risk tolerance and financial needs.

By customizing your investments to match your comfort level and objectives, we aim to create a portfolio that’s both stable and growth-oriented, helping you feel secure in the years ahead.

Ongoing Support and Market Resilience Strategies

Once your plan is in place, we use proactive strategies to prepare your portfolio for market volatility, incorporating diversification and strategic adjustments to help mitigate risks.

Through regular reviews and adjustments, we provide you with steady support and insights to keep your retirement on track, no matter how the market evolves.

Required Minimum Distributions

One benefit of traditional Individual Retirement Accounts (IRAs) and 401(k)s is their tax-deferred nature.

Growth

Tax-deferred: no tax on gains, interest & dividends while assets are in the account

Contributions

Typically pre-tax

Withdrawals

Typically taxed as ordinary income at the taxpayer's marginal rate

Tax Deferral Doesn't Last Forever

Account owners must begin taking a minimum withdrawal known as a Required Minimum Distribution (RMD) at a certain age. Like other withdrawals from a traditional IRA or 401(k), RMDs are taxed as ordinary income based on the individual's marginal tax rate.

When do RMDs start?

For many years, Required Minimum Distributions (RMDs) began in the year an individual turned 70½. However, this changed with the implementation of the SECURE Act and later the SECURE 2.0 Act, which pushed the starting age further out.

If someone is still employed when they reach RMD age, they might be able to delay RMDs from their current employer’s 401(k), but this exception does not apply to IRAs—they’ll still be required to take RMDs from those accounts. RMDs must continue annually for the rest of the account owner's life.

How Are RMD's Calculated?

The RMD is determined by taking the account balance as of December 31st of the previous year and dividing it by a factor from an IRS table, which corresponds to the account owner’s age in the year the distribution is taken.

What If an RMD Is Not Taken?

Before the SECURE 2.0 Act was enacted, account owners who missed an RMD faced a steep 50% penalty on the amount they failed to withdraw. Starting in 2023, the SECURE 2.0 Act lowered that penalty to 25%. If the missed distribution is corrected promptly and an amended tax return is filed in a timely manner, the penalty can be further reduced to 10%.

Social Security Benefits

5 Ways to Stay Confident in Retirement

Today's retirees are living longer than ever before and experiencing retirement in new ways. This guide discusses the different strategies you can implement for the retirement life you want, and how to get there with confidence.

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59 1/2: Why is This Age So Important?

This age marks a turning point of sorts in your life - on a number of fronts. In this report, we explore your retirement choices, your healthcare concerns, and how to move vibrantly into those golden years.

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Preparing For A Satisfying Retirement

Many Americans may not understand how to fully take advantage of their employer-sponsored retirement plans. We've created this report to help you make the most of your savings and investment opportunities and help improve your prospects for a comfortable retirement.

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4 Critical Social Security Facts Retirees Must Know

More than 70 million Americans (21% of the U.S. population) receive some sort of Social Security. The below guide discusses some important facts you should know about your Social Security Benefits.

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Frequently Asked Questions & Additional Resources:

"Can I Contribute to my Roth IRA?"

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"Can I Make a Back-Door Roth IRA Contribution?"

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"Can I Make a Mega Back-Door Roth Contribution?"

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"Should I Consider Doing a Roth Conversion?"

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"Can I Deduct My Traditional IRA Contribution?"

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"Should I Contribute to my Roth IRA Vs. My Traditional IRA?"

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"How Must I Take Distributions from the Traditional IRA I Inherited?"

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"Can I Do a Qualified Charitable Distribution from my IRA?"

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"Should I Take my Pension as a Lump Sum?"

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Choices for Your 401(k) at a Former Employer

Individuals have four basic choices with the 401(k) account they accrued at a previous employer.

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What's New for Social Security?

There have been a number of changes to Social Security that may affect you, especially if you are nearing retirement.

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