“I’ve just changed jobs. What do I do with my 401(k) account from my old place of employment?”
If you wish to have more control of over your investment choices, while still maintaining the tax-deferred status available to you within your plan, a Rollover IRA is right for you. We can help! If you have several accounts, either 401(k) or IRAs, they can all be pulled together to work for you in one place. We can help you select any assets available in the marketplace to provide the investment results you desire. We’ll monitor investment progress, and inform you when by law it’s time to begin taking withdrawals.
Consolidating those IRAs into one investment account can eliminate a lot of headaches. We advise you at the beginning of each calendar year the amount you need to withdraw as a mandatory distribution. You also have the option of taking your distribution lump sum, quarterly, or monthly (like a paycheck back to yourself from the hard-earned retirement nest egg you’ve built). We can assure that all the proper tax reporting is done on your behalf.
“I’ve heard about ROTHs. How are they different from traditional IRAs, and which should I choose?”
It’s all about taxes. In a traditional IRA, you don’t pay income taxes when you put money in, you pay income taxes when you take it out. In a ROTH IRA, it’s just the reverse. Which one is right for you depends upon your age, your time horizon, and other retirement resources.
“I’ve ridden the roller-coaster ride in my IRA over the years and it seems like I’ve lost a lot of money. Now that I’m retired, how do I get off this crazy ride?”
As you approach retirement, it’s more important now to preserve what you have than it is to grow it even larger. So, perhaps now is the time to bring more stability to your retirement portfolio. You may be taking more risk than you intend or you may not be enjoying the returns you should. Together, we will assess your portfolio and design an investment mix that meets your income needs as well as to develop a plan to stay on track during your retirement years. You will see results clearly through our periodic statements and performance reports to understand precisely how well your entire portfolio is performing. And we won’t just send you statements. We expect to meet with you on a regular basis to report to you and to fine tune your portfolio to reflect changes in your needs and goals.
Equal Housing Lender.