Retirement planning is more effective with a clear, low-cost investment strategy that is tailored to your long-term goals. We help clients build and manage a diversified portfolio designed to grow their wealth and support their retirement lifestyle.
Individual Retirement Account (IRAs) can play several important roles in your retirement planning, depending on your circumstances. If your employer doesn’t offer a retirement plan – or if you are self-employed – an IRA may be a valuable tool for building your retirement savings. (Self-employed individuals have several retirement account options – learn more here.)
IRAs are also commonly used as a rollover destination for assets from workplace retirement plans. Consolidating old accounts into an IRA can simplify your portfolio and may offer access to a wider range of investment options than many employer-sponsored plans.
Many people begin saving for retirement through an employer-sponsored plan, such as a 401(k), 403(b), 457, or Thrift Savings Plan (TSP), depending on their profession and workplace. When you leave a job where you contributed to a workplace retirement plan, you often have the option to roll those assets into an Individual Retirement Account (IRA). Over the course of your career, consolidating old retirement accounts into a single IRA (or one Roth IRA and one Traditional IRA, depending on what vehicles you are using in your workplace plan) can help streamline your savings, simplify your investment strategy, and keep your long-term goals in focus.1
Brokerage accounts can add valuable flexibility to your overall retirement strategy. Unlike most retirement accounts, brokerage accounts don’t have contribution limits or early withdrawal penalties, making them a versatile option for saving and investing at any stage of life. Whether you’re building wealth alongside a workplace retirement plan or looking for a place to keep excess savings, a brokerage account can support short-, medium-, and long-term financial goals. It can also serve as a useful tool in retirement, offering liquidity and access when needed.
1. The decision to rollover a workplace retirement plan into a personal IRA account should be considered on a case-by-case basis, as it may not always be the most prudent choice, depending on the specific facts and circumstances of the case.
401k Hidden Fees: What Every Employee Should Know
Retirement Planning & Investing
401k plans have been a captive source for the financial industry to extract fees from American workers.
Retirement Planning & Investing
The skills and psychologies that help investors build wealth do not translate to enjoying the wealth. What’s worse is that investors who have built significant wealth by saving can have the most difficult time utilizing their wealth. A wealthy prison of their own making!
v 2.4.99 | © One Day In July LLC. All Rights Reserved.
