But once you excitedly enter your post-work life, that consistent paycheck vanishes. So, what then?
A fixed indexed annuity may be a solution. With a fixed indexed annuity, you can build a steady income stream that can be paid during a defined period or can be structured to last a lifetime. In exchange for these benefits, you must leave the money untouched for an initial “surrender” period or pay a penalty.
401(k) Rollover Options
A 401(k) is a key piece of many Americans’ retirement strategies. Accordingly, if you need to roll over your 401(k), you should do so with an abundance of caution.
With 401(k) rollovers, there are many things to consider: The 60-day distribution rule, avoiding IRS penalties and full taxation, and why a direct rollover may be your most mistake-proof option.
If a job switch is on the horizon, or if your retirement is drawing closer, consider meeting with a financial services professional to get a better understanding of the nuances and rules that come with 401(k) rollovers.
Retirement Obstacles – Is your retirement so close that you can close your eyes and imagine Monday mornings without alarm clocks or commutes? As you approach your retirement finish line it can also be a time of worry. You can help alleviate your concerns by preparing a financial strategy that can help support your preferred lifestyle during retirement.
Planning is Everything
By balancing different types of accounts — the “when” of taxes — you create more flexibility to minimize your taxes and maximize your income in retirement.
Contact us today to learn more about the impact a tax-efficient retirement income strategy can have on your lifestyle in retirement.