In retirement, every day is a Saturday. What are you going to do with your time? How much money can you spend? Are you taking too much risk? We are here to answer some of these questions and more.
Saving for retirement was the easy part. Determining which accounts to access first and managing tax liability along the way gets tricky. In addition, managing your risk to protect your nest egg to prepare for the inevitable market downturn or unforeseen expenses should become a priority.
Navigating a maze of personal and financial decisions can be overwhelming especially when you are in transition into retirement. Without proper professional attention, a bad choice can threaten a secure future. And since you are facing a major life transition, the stakes couldn’t be any higher.
To support your journey, we’ve developed The LifePrint Advantage™, a proprietary and educational approach to wealth management and financial life mapping based on an in-depth, multi-faceted understanding of you.
Like a fingerprint, your LifePrint™ is unique, it’s personal and with our help, it’s the path you’ll take to achieve your goals.
For many of us who have worked hard our entire lives, an employer sponsored 401(k) is an effective way to save for retirement and a primary source of income after leaving the workplace. After all, tax advantaged savings accounts make sense, providing an easy way to build a nest egg. But now that you’re close to retiring, what should you know about your 401(k) that will help you prepare for your golden years?
A carefully planned exit strategy from a lucrative career involves understanding what the best move is for your financial future, including your 401(k). In some cases, it may make sense to leave it where it is. At some point, you may want to have more control over your options and a rollover to an IRA may make sense. While you may be eligible to take penalty free withdrawals before age 59 ½, once you are no longer working and reach 70 ½, you will be required to take mandatory distributions. It’s in your best interest to speak with a qualified professional to help ensure you make the best educated decision for your specific needs. Plan distributions may be subject to tax and 10% penalty if withdrawn before age 59 ½.