2610 Trinity Drive
When you are young and just starting a professional life, retirement might be the last thing on your mind. However, if you ask any retired person, or someone entering retirement, what advice they would give you about planning for that day, chances are they’ll say: Start as soon as you can!
The best way to assure you have a comfortable retirement, is to select a retirement savings account/s that matches your retirement objectives – and start saving as much and as frequently as you can! Without such accounts to help you, or with the wrong type of savings accounts, you’ll likely find it extremely hard to meet your retirement savings goals.
As you start planning to save for retirement, you’ll likely have many questions that you need answered:
Our Retirement Savings specialists will help address all of your questions. We’ll also help you make informed decisions about which types of savings vehicles are right to pursue your particular retirement goals. Not all retirement savings accounts are designed the same. For instance, some have yearly maximum contribution limits, and others have planned distribution criteria associated with them. Violation of those rules can lead to IRS-imposed premature withdrawal penalties.
Our Retirement Savings Account specialists will help you navigate the plethora of saving options available to you, some of which include:
*Some IRA’s have contribution limitations and tax consequences for early withdrawals. For complete details, consult your tax advisor or attorney. Distributions from traditional IRA’s and employer sponsored retirement plans are taxed as ordinary income and, if taken prior to reaching age 59 ½, may be subject to an additional 10% IRS tax penalty. Converting from a traditional IRA to a Roth IRA is a taxable event. A Roth IRA offers tax free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59 ½ or due to death, disability, or a first time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.