Retirement & Legacy Planning
Empowering Your Financial Future
Now is the right time to start planning for retirement
It is never too early to start planning for retirement and while the longer one waits the harder it is for one to pursue their retirement goals, even if you are in your sixties, you can still get enough money for retirement. That being said there is so much to that needs to considered when planning for retirement than saving money. You have 401(k)’s, IRA’s, Life Insurance, Annuities, and Trusts that all have to be structured, let alone managed to generate maximum returns while not losing that money in the process.
401(k)s
Pros
- Employer matching contributions (if offered)
- Tax-deferred growth on contributions
- High annual contribution limits
Cons
- Limited investment options
- Early withdrawal penalties
- Fees can vary widely
IRAs
Pros
- Tax-deferred (Traditional) or tax-free growth (Roth)
- Flexibility in investment choices
- Can be combined with other retirement plans
Cons
- Lower contribution limits than 401(k)s
- Early withdrawal penalties (Traditional IRA)
- Income limits for Roth IRAs
Life Insurance
Pros
- Provides financial support to beneficiaries
- Certain policies offer tax-free cash value growth
- Can act as a forced savings plan
Cons
- Can be costly, especially whole life policies
- Cash value growth may be slower than other investments
- Complex terms and fees
Annuities
Pros
- Guarantees income for life in retirement
- Tax-deferred growth potential
- Optional riders for added benefits (e.g., death benefits)
Cons
- Limited liquidity with potential penalties for early withdrawal
- High fees and surrender charges
- Relies on insurer’s financial stability
Trusts
Pros
- Helps avoid probate and protects assets
- Offers control over asset distribution
- Can provide tax benefits for heirs
Cons
- Setup and management costs can be high
- Requires legal and financial guidance
- May have limited liquidity
Our 8 elements
Our signature process incorporates 8 unique elements, including income, emergency funding, asset building, estate protection, legacy enhancement and protection, and tax planning. Let us work with you and help you get the piece of mind of having your retirement strategy properly structured.
Comprehensive Diagnosis
Then we develop a plan based on your personal, professional and business goals. You have spent your life working so that you would be able to retire, we work with you to help pursue your dreams. Our analysis will give you a realistic snapshot of where you are and where you are headed.
We will then give options to optimize your retirement strategy and further your retirement goals. We will recommend additional investment vehicles you will need, changes to existing investments and assist with other needfuls to help you pursue your retirement dreams.
