When it comes to saving, tax-advantaged options such as a 401(k) or an IRA can be smart choices. In addition to potential tax benefits, there is an opportunity for your savings to compound over time. Life Insurance and annuities provide protection for you and your family and may help reduce your taxes.  Fixed annuities can offer investors a variety of benefits, depending on the contract, including periodic payments over an investor’s or beneficiary’s lifetime, death benefits, and tax-deferred growth.

Plan Ahead For Retirement

As financial professionals, we often get asked when the retirement planning process should begin.  The answer:  The sooner, the better.  The earlier you begin planning for retirement, the more time your money has to grow.  However, it’s never too early to begin planning for your retirement.  Even if you’re deep into your career and haven’t begun to consider retirement, every dollar counts and will be appreciated later.

What Is A 401k?

A 401(k) is a retirement savings plan provided by some employers.  In many cases, employers will offer to match a portion of what you save up to a certain percentage., which essentially amounts to free money.  There are several kinds of 401(k) plans that our financial experts can help you interpret, including traditional, Roth, self-directed, and more.  If you have additional questions about your 401(k) plan and how it can work for you, we’re here to assist you.

What Is An IRA?

IRA stands for “individual retirement account.”  Essentially, an IRA is an investment account that banks offer as a retirement savings account.  This may be a good option for individuals who don’t have access to a 401(k) and can be set up through a bank, an online service, or via a broker.  The biggest advantage of opening an IRA account is being able to use those funds to invest in stocks, bonds, and other assets.  Over time, these transactions have the opportunity to pay off in a big way if managed wisely. Carty & Co. financial professionals have a plethora of experience helping clients manage their IRAs.

Other Types Of Retirement Plans

While 401(k)s and IRAs are the most common types of retirement plans, there are others that may suit your needs.  These plans include:

  • Defined Contribution Plans
  • Pensions
  • Guaranteed Income Annuities
  • Cash-Balance Plans
  • Life Insurance Plans
  • More.

Planning for your retirement is one of the best investments you can make for yourself and your family’s future.  If you want to learn more about any of the plans listed above, contact one of our financial representatives today.

Let Us Help You Prioritize Your Financial Goals

At Carty & Co., we know that retirement is just one of many options when it comes to your financial future.  We aim to help you prioritize your financial goals so you can get the most out of your hard work.  It doesn’t matter if you’re managing debt, or building an emergency fund–retirement is an essential part of your financial health.  Reach out to one of our financial professionals today and learn how Carty & Co. can help you plan for what comes next.

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