How much money do I need to retire?
The amount you need depends on your lifestyle, expected expenses, retirement age, healthcare costs, and other sources of income like Social Security and pensions. We will help you build a personalized retirement plan so you know if you're on track and what adjustments may be needed.
When should I start taking Social Security?
Claiming early may reduce your monthly benefit, while waiting can increase it. Factors like your health, life expectancy, marital status, and retirement income needs each play a role. We are here to determine the strategy that best fits your retirement plan.
How often should I review my retirement plan?
We encourage clients tor review their retirement plan at least once a year, or as you experience major life events like retirement, marriage, divorce, receiving an inheritance, changing jobs, or selling a business.
What is a 529 Plan?
A 529 plan is a tax-advantaged savings account designed to help families save for education expenses. Contributions are made with after-tax dollars, and while they aren't federally tax-deductible, the money can grow tax-deferred. When used for qualified education expenses, withdrawals are generally tax-free.
A 529 plan can be used for much more than just a four-year college degree. Qualified expenses may include:
- College tuition and fees
- Graduate school
- Trade and vocational schools
- Apprenticeship programs
- Books and required supplies
- Computers and internet access used for school
- Certain K–12 tuition expenses (subject to applicable limits)
- Some student loan repayment (subject to applicable limits)
Roth IRA vs. Traditional IRA: What's the Difference?
Roth IRA
With a Roth IRA, contributions are made with after-tax dollars. Although you don't receive a tax deduction for contributions, qualified withdrawals in retirement—including investment earnings—are generally tax-free if IRS requirements are met.
Traditional IRA
With a Traditional IRA, contributions may be tax-deductible depending on your income and whether you're covered by a retirement plan at work. Investments grow tax-deferred, but withdrawals in retirement are generally taxed as ordinary income.
