Archive for the ‘Traditional IRA’ Category

How Do I Choose The Right IRA?

Monday, February 10th, 2014

Choosing the right IRA can be a difficult task. Luckily for you, the financial advisors at Safe Retirement Solutions are here to help! Simply following the three below steps can help you on your way to choosing the right type of IRA for you and your financial well being.

The Basics

There are two main types of IRAs – the Roth and the traditional IRA.

Traditional IRA: The biggest advantage to this type of IRA is tax-deferred compounding. You won’t have to pay taxes on your IRA’s investment earnings until you start taking distributions for it after you retire.

Roth IRA: Unlike traditional IRAs, this type of IRA has no restrictions governing when you are allowed to start taking distributions. Furthermore, qualified distributions from a Roth IRA are tax-free, not just tax-deferred.

Eligibility Requirements

There are eligibility requirements associated with both Traditional IRAs and Roth IRAs. For starters, you can’t make a deductible contribution to a traditional IRA if your income is above a certain level. Furthermore, if you make over a certain amount of money, you may not even be eligible for a Roth IRA. And that is just the beginning.

It gets pretty complicated from there. To help simplify the task, I suggest you check out the TurboTax IRA Calculator.

Your Options

This is where a Safe Retirement Solutions can help! Our full service, independent financial advisory firm is dedicated to providing you with the very best in retirement income planning.

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

If you have any questions or want to know more about what we can do for you, please contact Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Solutions:

Finding the Right IRA in Three Easy Steps

Benefits of IRA Legacy Planning

Monday, September 30th, 2013

Protecting and preserving your retirement savings is just one of the many crucial aspects that go into planning for retirement. If handled properly, an IRA can sustain you throughout retirement and provide a significant inheritance for your loved ones or favorite charity. If not handled properly, your beneficiaries could end up losing as much as 80% of your retirement savings to taxes. 

There is a solution – IRA Legacy Planning.

This important retirement planning strategy helps secure how you will pass along your hard-earned savings. IRA Legacy Planning ensures that your IRAs and other qualified plans are properly incorporated into your estate plan.

Benefits of IRA Legacy Planning

•      Increase the extent and validity of your retirement savings

•      Minimize taxes on the transference of your retirement savings

•      Provide a significant inheritance for your loved ones

•      Ensure the “Stretch IRA”

•      Avoid common mistakes that could result in unnecessary taxes and loss of assets

•      Communicate instructions to beneficiaries upon your passing

If you have any questions about what you have just read, or if you would like to know more about IRA Legacy and retirement planning, consult a financial advisor like Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

IRA Legacy Planning: Protecting Your Life Savings

Benefits of Professional Financial Planning : Retirement Planning

Wednesday, May 23rd, 2012

The primary goal of a professional financial planner is to help you maintain a comfortable lifestyle while still putting away enough money for the future. What is even more impressive is that financial planners are able to consolidate all aspects of your financial life into one coordinated plan. So, unlike stockbrokers, bankers, insurance agents, or accountants, your financial planner helps make your life less complicated…not more complicated.

Additional Benefits of Financial Planning

  • Assistance With Managing Your Finances: Let’s face it; you just do not have the time to breathe, let alone properly manage your own finances. This is where a professional financial advisor can help!
  • Confirm Your Objectives are Being Met: How are all of your investments working out? You have several specialists – stock brokers, loan officers, bankers, etc. – telling you how each piece of your financial puzzle is doing, but what about the bigger picture? How is each investment working as a part of the whole financial plan? A financial planner is certainly not intended to replace any of your existing advisors, but what he/she can do is evaluate your total financial situation and coordinate strategies which do not interfere with any of your stated goals and objectives.
  • Monitoring the Implementation: Your stated goals and objectives can never be met without putting the financial plan into action. A financial planner will ensure that all phases of your plan are not only implemented, but also monitored to ensure they are working out.
  • Frequent Plan Review to Remain on Schedule: Your financial plan should be reviewed on a continuing basis. A financial advisor will frequently meet with you to review your current financial plan and, if need be, reevaluate your financial goals.
  • Provides You with Peace of Mind: Sit back and relax, knowing you and your future are in good hands.

 

Most people, at some point in their lives, will need financial advice. When the time comes for you to reach out to a professional financial advisor, whom should you trust? How can you be sure that the financial advisor you choose has your best interests in mind? How do you know that your money is in good hands?

The Answer: Trust Safe Retirement Solutions!

For more information about Professional Financial Planning, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Why Consider Financial Planning?

A Deeper Look into a Roth IRA :: Financial Planning :: Retirement Planning

Thursday, May 10th, 2012

What is a Roth IRA?

Introduced in 1998, the Roth IRA was named after Senator William Roth Jr. of Delaware, the chief sponsor of this new financial planning tool.

What is the Difference Between a Roth IRA and a Traditional IRA?

Unlike a traditional IRA, Roth IRAs are funded with after-tax dollars and accumulate tax-free. This type of IRA also has no restrictions governing when you are allowed to start taking distributions.

What are the Advantages of a Roth IRA?

  • Contributions to a Roth IRA can be withdrawn tax-free and penalty-free at any time.
  • No required minimum distribution (RMD) during the owner’s lifetime.
  • A spousal beneficiary can roll over an inherited Roth IRA and continue to defer withdrawals.
  • As long as the taxpayer is earning some type of compensation or receiving alimony, contributions can continue to a Roth IRA past the age of 70 ½.
  • And more!

What are the Disadvantages of a Roth IRA?

  • Earnings can be withdrawn tax-free and penalty-free only after the Roth IRA has existed for five years and any of the following: the taxpayer has reached age 591/2, is disabled, died, or is withdrawing up to $10,000 to purchase a first home.
  • There are RMDs required after the Roth IRA owner dies, but only for non-spouse beneficiaries.
  • Contributions are not tax-deductible.

What are my IRA Options?

This is where a Safe Retirement Solutions can help! Our full service, independent financial advisory firm is dedicated to providing you with the very best in retirement income planning.

We help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.

For more information about Roth IRAs, or for professional financial advice, consult the financial advisors at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!

You can also follow Safe Retirement Solutions on Facebook and Twitter.

Sources:

Roth IRAs