It’s never too early and it’s never too late!
Retirement planning is one of the biggest challenges we will all
face. Maintaining our standard of
living, and replacing income when one retires, may appear to some as very
intimidating tasks.
The choice is yours. Plan now, or plan later. Our advice, “plan now”.
Whether you are an employee
and/or a business owner, there are several choices you can make to start the
plan in motion.
- Contribute the maximum allowed to your own
Traditional IRA and Roth IRA, even if you are participating in your
employer’s retirement plan.
- Participate in your employer’s retirement
plan. Several retirement plans
match contributions. If you do not
contribute, you may lose out on the matching contribution.
- If you are switching jobs, resist that
temptation to spend retirement distributions. We recommend rolling the funds over to continue the tax
deferment.
- Take seriously where your retirement funds are
invested. Meet with your
investment advisor and make sure you invest the funds wisely.
- Business owners have several choices of
retirement plans available. SEP,
Keogh, 401(k), Simple IRA to name just a few. Each business owner’s situation is different, so meet with
your CPA to determine which fits your needs best.
Retirement planning made
easy has a simple formula. Set a
goal and stick with it.
We would welcome the
opportunity to discuss with you your retirement goals. Please do not hesitate to give us a call to
assist you and/or your company in developing the best plan for you.
