The Planner

Retirement Strategies

Scroll down to see more
Arrow down button
The Planner illustration graphic
Login
Close popup button
March 12, 2017
By
Core Group US
Tax Advice
Retirement Strategies


Planning for one’s twilight years is something that most workers begin contemplating at a relatively young age. Fortunately, there are a number of investment opportunities that can help a person ensure that he or she has access to funds after retirement.

401(k)s


One of the most popular (and easiest) ways to start a retirement fund is to invest in a 401(k) plan. These plans are sponsored by employers and allow employees to make contributions from their paychecks on a periodic basis. Some employers are even willing to match their employees’ contributions up to a predetermined limit. However, investors are limited in a number of funds they can defer to their 401(k) plan. This year, for instance, employees will be prohibited from contributing more than $18,000 to their accounts, although employees over the age of 50 years old can defer a bit more for a total of $24,000. The maximum contribution of both employers and employees is a total of $54,000 for the year 2017. Finally, distributions from 401(k) accounts will not begin until the employee retires, becomes disabled, passes away, or ceases to work with the employer.

Individual Retirement Accounts (IRAs)


There are four main types of IRAs, all of which offer some type of tax incentive. For instance, a traditional IRA allows employees to defer money from tax returns directly into the account, which will then grow on a tax-deferred basis until the employee reaches retirement age. Roth IRAs, on the other hand, consist of previously taxed funds, so when the investor withdraws upon retirement, he or she will be allowed to do so without having to deduct taxes. In the event that an employee retires or changes jobs, the assets in his or her 401(k) or another employer-sponsored retirement plan can spill over automatically into a Rollover IRA, which is put in place for that purpose.

Contact an Experienced Financial Management Team Today


Planning for retirement is the best way to ensure that we are provided for in our twilight years, so if you are interested in making your own retirement investments, please contact our CORE financial services team by calling 580-353-2376 to speak with a team member at our Lawton office, 405-288-1207 to reach our Oklahoma City office, or 918-209-3441 if you wish to speak with a team member in our Tulsa office.

Ask Us a Question
Seems like no one has asked a question yet. Be the first one to do so by filling the form below
Thank you for engaging with us!
We’ll review your question and notify you as soon as we post our answer as quickly as possible. If you have any other questions, you can reach us at your earliest convenience
Oops! Something went wrong while submitting the form.
More Related Content
We couldn't find any related content.
Corey using his computer

Ready to make more money and keep more of it?

Each day you tell yourself you’ll get to this “one day” you are throwing money out the window. You risk getting to a point where you want to exit or retire, but you aren’t able to. The growth of your business, and your ideal outcome for your future depend on setting this up now.

Schedule Free Consultation
Contact Us
We respect your Privacy. The information you provide will be used to answer your question or to schedule an appointment if requested.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Close popup button