Retirement Planning

Retirement is a big step – are you ready for it?

Letting go of your career is only the start of retirement. There are many considerations when retiring like:

How much money do I need to cover my yearly expenses?
How long am I going to live?

What happens if my spouse dies? Or if I die first?

What happens if I need extended medical or nursing care?

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How Do I Start My Retirement Plan?

When you start to think about retirement, you need to analyze your life – top to bottom. Firstly, you must identify your core values to ensure that the rest of your life is lived with the intention of upholding those values. Secondly, you must consider your retirement budget. We can help you with both!

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Traditional vs. Roth IRA

Individual retirement accounts (IRAs) are tax-advantaged vehicles designed for long-term savings and investment, specifically for your post-career life. The two most common IRAs are the traditional IRA, established in 1974, and the Roth IRA, introduced in 1997 and named for its sponsor, Sen. William Roth.

These accounts have similarities as well as differences, primarily dealing with tax deductions (do you want to owe the IRS now or later?), accessibility of funds, and eligibility standards.

What’s the Difference?

2021 IRA Contribution Limits

Make sure you’re paying attention to the contribution limits of your Traditional and Roth IRAs each year.

For 2021, 2020 and 2019, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than: $6,000 ($7,000 if you’re age 50 or older), or, if less, your taxable compensation for the year.

Click below for all the details.

IRS Contribution Limits

Where Will Your Retirement Funds Come From?

According to a study conducted by the American Advisors Group, different generations have a different answer for this question. Are they all realistic? Why are they so different?

Let’s Explore

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24031 El Toro Road, Suite 210
Laguna Hills, CA 92653