Streamline Your Financial Goals

How is it all going to work when it’s your time to retire?

Transitioning from a paycheck to living off accumulated investments and retirement plans can and frequently create anxiety. Additionally, most people entering retirement do not realize that different types of income will create different income tax outcomes.

Part of the problem stems from the fact that Congress has created different “classes” or types of income that are not treated equally at tax time. Therefore, even though you and your neighbor may have the same total amount of income in retirement, your taxes may be completely different because of the sources of that income.

For example, two individuals living next door to each other have $72,000 of income in retirement; one couple pays $4,546 in Federal and state taxes while the other only pays $35 in combined taxes. Who would expect that type of outcome? Our Wealth advisors will work with you to optimize your unique tax situation so that you can keep more of your money.

Retirement planning involves several factors:

  1. Aligning your investing style and choices with long-term goals
  2. Disciplining your approach to saving for retirement
  3. Tracking continual progress toward achieving your long-term goals

Because your retirement can span decades, monitoring your financial plan and making adjustments as needed is crucial to your long-term financial success. We will work alongside you to prioritize financial goals, maximize growth, create dependable income streams, and optimize taxation of your income and wealth.

Retirement Financial Planning Universe - REDW Wealth Advisors

Explore the four areas of Retirement Planning…

Individual Retirement Plans

If you cannot participate in a company retirement plan, REDW Wealth can help explore the choices available for individual retirement plans.

Frequently, these plans can be the first choice for developing businesses and can help to create the foundation for a more sophisticated, future retirement plan. They are generally inexpensive, easy to establish and maintain, and offer tax incentives.

• Roth IRA
• Spousal IRA
• Solo 401 (k)
• Simple / SEP

Retirement Income Planning

Supplemental income in retirement can come from many different sources.

Some of them include rental income from real estate, royalties from oil and gas production, and pensions from employment. If you are faced with pension elections, we can help you choose the option that will work best for you.

• Self Employment
• Pass Through
• Tax Free
• Rent
• Royalties
• Pension
• Portfolio Income

Supplemental Benefits

In this subdivision of Retirement Planning, one of the most important issues to deal with is how individuals will ultimately claim their Social Security retirement benefits.

Social Security is foundational to retirement income needs and understanding your claiming options is crucial in retirement income process. As an individual, spouse, survivor, or an additional beneficiary, REDW Wealth can help you make the best decisions that will optimize your Social Security benefits.

• Social Security
• Asset Sale
• Inheritance

Distribution Planning

At the heart of your retirement income plan is the distribution of accumulated and inherited assets. Selecting the optimal distribution method will help ensure that your retirement savings will last for the longest period possible. Our trusted advisors continually examine how the law changes surrounding inherited retirement assets. In some circumstances, our wealth advisors can help identify alternatives that may reduce taxes associated with inherited assets.

• Beneficiary Planning
• RMD Projections
• Post Death Planning
• Pre 59 1/2 withdrawals
• Social Security claims
• Cash Flow Needs
• Inherited IRA

Optimizing Your Tax Strategies

With the Universe of Financial Advice, Planning, and Wealth Management our wealth managers use Strategic Income Tax Planning as one of the three lenses through which we evaluate financial and investment decisions.

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Managing Your Risk Intelligently

While each individual is the ultimate decider of the financial decisions you face we’ll help you to confidently and intelligently make those decisions using facts and evaluating real alternatives with Risk Management Planning.

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Free Consultation

Retirement planning involves evaluating your current financial situation and applying the proper accumulation or distribution strategy to fit your ultimate needs.

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