Income & Retirement Planning

One important part of your career today is to help prepare your finances so that you will have what you need during retirement. By starting as soon as possible, you can make sure that you have the income you need today, and that your savings will last you through retirement. Of course, you’ll also want to have something left over that can be passed on to your loved ones. We can help you with practical income and retirement planning services that will make it easier than ever to ensure you are doing everything you can to prepare for your future.

Planning

Most Americans who are getting ready to retire today have the bulk of their savings in the form of various retirement plans. It is important to understand how those assets would pass to your loved ones upon your death. There are very intricate rules with respect to estate and income taxation of those assets on the death of the person who was the primary contributor to the plan. It may possible to minimize income tax exposure or to defer part of it if a spouse or others are your intended heirs but it has to be done following complex set of IRA-trust rules imposed by the government. We will work with you to make sure that your pension account custodians understand and properly process your requests for beneficiary designations. We will also work for you to ensure that you have certain vehicles ready to accept your plans after your death.

 

Part of income and retirement planning is looking to the future to see what you can expect to receive once you leave the work force. For example, will you have medical insurance? Will you have disability insurance? Will you have long term care insurance?  We will review your coverage and make recommendations based on your current status and your expectations.

When to Start Planning

Ideally you should start planning for retirement as soon as you get your first full time job. This will allow you to put money away so that it can grow for many years. With compound interest, even modest retirement savings in your 20’s and 30’s can really add up to a significant nest egg when retirement comes around. If you haven’t started saving for retirement yet, let us help you to find the right amount to put away each paycheck, and where it should go to get you the best possible return on investment. When done properly, this type of planning will have only a small impact on your regular paycheck, but can make a huge difference in what you have available when retirement arrives.

 

Coordinate Your Estate Plan with Your Retirement Plan Through Your IRA Accounts and Pension Plans

Your estate plan should be holistic. In other words, it is not correct to evaluate your estate without evaluating your income tax and retirement factors. We will help you to make sure that your retirement planning work together in parallel with your estate plan.

 

Contact Us Today

Whether you have started saving for retirement already, or you are just getting going, we are here for you. We can help you to plan for the income you will need in the future so you can enjoy your golden years properly. Please give us a call at 212-596-7039 to speak with one of our planning professionals today.

Our policy is to communicate clearly, concisely, and on a timely basis. To be responsive to clients. If we can’t take your call immediately, you can expect that a telephone message left in the morning.