Retirement is a relatively new concept. It used to be that you worked until the day you die, but now people have an expectation that they will be able to retire and enjoy the fruits of their labors. While retirement plans can give you the warm and fuzzies, for high net worth individuals, they can be toxic assets or junk money. We have provided solutions for our Private Clients and rest assured, each solution is as vibrant as the clients’ personalities themselves. Once you’ve rolled over your old 401(k) or 403(b) into an IRA, we can manage those investments for you. In the meantime, we will take a look at your options for free.
Retirement plans are available either through your employer or individually. Some let you take a tax deduction at the time you contribute to your plan while others let you take it when you withdraw it at a much older age. The three most popular ones that let you take an immediate deduction are the 401k and 403b (available through your employer), and the traditional IRA (available to anyone).
You need to understand why these plans are so important to your financial health in order to set yourself up for a financially healthy retirement. While there are countless other retirement plans on the market as well as insurance policies and annuities that purport to supplement your retirement, the big three are what you need to understand to make informed decisions.