Retirement Accounts
Request Assistance »We specialize in qualified retirement account rollovers. We transfer IRA, 403(b), 401(k), Roth and other qualified accounts to safe, insured and conservative investment products that are not subject to market loss. If you are retiring, changing jobs, or simply looking to protect your retirement nest egg, then we can help.
Deciding what to do with your qualified funds at retirement can be confusing without proper guidance. If you are permanently retiring, then you may be required to rollover your 401(k) or 403(b) account to a new custodian or provider.
Considering the market turmoil over the last decade, this can be a very important decision. Many retirees wish to protect the assets they have worked long and hard to accumulate. Market fluctuations are no longer ideal when reliable income and principal protection are most needed.
Safe and Insured Retirement Accounts
We specialize in predictable, insured accounts that will not lose value when the overall stock and bond markets are in decline or behaving erratically. There are several investment types that will protect your retirement account while also providing guaranteed monthly income or guaranteed income for life if desired.
Interest gains can be locked in at a fixed rate for a desired period of years or vary depending on index performances. But at all times, your account cannot lose value due to market volatility. Principal protection, growth, and income are all assured with our most popular offerings.
IRA to Roth IRA Conversions
If you are an IRA account owner, you have always been allowed to convert to a Roth IRA subject to income limitations. Those income limitations have been removed in 2010 so that those who make over $100,000 per year can also convert to a Roth. While this type of tax and retirement planning may not fit everyone, it certainly has its advantages.
It is important to note that all funds converted from a traditional IRA to a Roth would be taxed as ordinary income, but not subjected to I.R.S. penalties. The income tax generated from your conversion can be spread out over two or more years.
If you believe that future income tax rates will be increasing (as many do), then now is a good time to convert your account. As oppose to tax deferred growth, your new Roth IRA grows tax free and all future distributions are tax free to you and your beneficiaries. Additionally, there are no RMD rules that require a forced distribution at age 70 1/2.
Continuing Retirement Contributions
If you are still earning wages from a new employer, you can continue to contribute to your retirement account under certain circumstances. Once the account has been transferred to a new custodian and provided that you meet certain requirements from the Internal Revenue Service, then you may contribute up to a predetermined amount. It is advisable to contact your accountant to learn of any limitations before making contributions.
Taxes and RMD Withdrawals from an IRA
In most cases, income taxes will be due at the end of the year when withdrawals are made from a retirement account – accept for the above mentioned Roth IRA. If withdrawals are taken before age 59 1/2, then penalties can be imposed by the IRS (unless certain hardship conditions are met.)
Most retirees wait until age 70 1/2 to begin what is called a Required Mandatory Distribution or RMD. At this time, it is advisable to own assets that are less volatile to avoid selling a depreciated asset. If setup properly, many qualified accounts can automatically calculate and distribute your RMD each year.
Whether you are newly retired, unhappy with the performance of your retirement account, considering a conversion, or approaching mandatory distribution age – we can help. There are several safe, insured and guaranteed rate investments available to conservative minded consumers who wish to reduce their market exposure.
Contact us today for assistance with your retirement account.
