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Retirement Strategies

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March 12, 2017
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.


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 scheduling a call below.

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