Your Trusted Resource for Retirement Planning
A sad fact - the median amount the average American has saved for retirement is $144,000, according to a survey from Transamerica Center for Retirement Studies, a figure that should be a “call to action” for boomers, said one financial expert. Ditto for all generations after the boomers.
Think about this - you work from your 20s to your 60s, maybe 40 years. You live to 100 and you have to fund a 40-year retirement with what? Social Security? Not enough. You need to amass a large portfolio, much more than $144,000.
And you need to start as early as possible.
Why? Time in the game is critical...
Hypothetical - you invest $6,000 a year at 6% for 10 years from age 22 to age 31 COMPARED WITH investing $6,000 a year at 6% for 20 years from age 32 to age 51.
Q - Who has more money at age 65?
A - The one who started at age 22!
That person's account grew to $607,852 versus the latter whose account grew to $528,953. HOWEVER, the former client invested just $60,000 of their own money over 10 years while the latter client invested $120,000 of their own money over 20 years! (Assuming taxes are deferred here.)
Just a simple example. Let us help you understand the importance of early and consistent retirement planning. We help you organize and prioritize your financial goals. Plus, we outline an action plan for fulfilling those goals, whether they include maximizing cash flow, reducing taxes, or funding college education, home purchases, weddings, automobiles, and other financial objectives.
We Keep a Watchful Eye on Your Investments
We help you monitor your investment choices in Individual Retirement Accounts and Roth IRAs, your company's 401(k) or 403(b), SEP-IRA, and SIMPLE IRAs/SIMPLE 401(k)s, and other retirement plans.
Should you convert to a Roth IRA or stay with a traditional IRA? Should you be investing in money market funds or other low-risk, low-return investments in your retirement plan for the long term? We help you understand your retirement plan statements and options because it matters. The difference between a 5% return on $100,000 over 20 years and an 8% return on the same $100,000 over 20 years is the difference between $265,330 and $466,096 tax deferred. Is it worth it to you to pay us to pay attention here? Of course, it is.
Have you maxed out your 401(k) or other retirement plan and are still looking to put more money away tax-advantaged for retirement? Look at Roth IRAs and traditional IRAs and tax-deferred annuities. We know the rules and the options. There is no limit to what you can stash away for your successful retirement.
Advice That Leads You to Smart Decisions - For Companies Too
We also work with companies in the development and management of benefits plans. It's a confusing world out there, and a dangerous one financially and legally if you are not careful. There are just so many ever-changing rules and regs with corporate retirement plans, group health insurance and other benefits. We listen to you and advise accordingly.
We analyze your needs and design the most suitable plans to fit those needs. Can't afford a 401(k)? How about a Simple IRA? Even if you, as a company, cannot contribute to your employees' retirement, you can make arrangements to allow your employees to reduce their income taxes while contributing to their own retirement plan. Don't let your employees naively rely upon a Social Security system that may not have enough money to pay them during retirement. Non-profit institutions can benefit from retirement plans designed for them.
Why do we say "we?" Because I work with experts from all disciplines - investments, retirement, health insurance, Medicare, life and disability insurance. An informal team of experienced and knowledgable professionals but an effective one.