Retirement Planning

Retirement is an exciting time! It is the end of one adventure and the start of the next. Let us make it the trip of a lifetime, and make sure you have enough income to do the things you want to do!

What is Retirement Planning?

Retirement planning refers to financial strategies of saving, investing, and ultimately distributing money meant to maintain a certain standard of living when you retire. The goal is for you to be financially secure even after you have stopped working.

At Dice Financial, our advisors will take the time to understand your financial situation, providing you with a comprehensive plan specific to your retirement goals and objectives.

Why Do You Need a Retirement Plan?

If you are like most people, you worry about your financial future. It is hard to imagine how you can retire if you don’t have a plan.

Typically, retirement planning includes:

Saving or investing enough money to live comfortably after leaving the workforce.
Retirement distribution planning including asset allocation, risk management, and time horizon.
Retirement lifestyle expectations including personal, family, social and financial goals.
Tax-efficient investing

Retirement Plans

While retirement plans vary in detail, most plans have the following in common:

A retirement savings plan, such as a 401(k) plan or an IRA, which is subject to certain federal and state tax rules.
A strategy for withdrawing funds from tax-deferred accounts after retirement without paying significant penalties. This may be done through systematic withdrawals or by converting the assets into a Roth IRA, which is not subject to required minimum distribution rules.
Retirement Investment Accounts

401(k) Plan

A 401(k) plan is a company-sponsored retirement plan. Commonly offered as part of a benefits package, by many employers to their employees. It allows employees to contribute pre-tax or after-tax dollars from their paychecks into a retirement account.

Employers often match a portion of their employees’ contributions.

A 401(k) offers some nice tax benefits that make saving for retirement easier:

The money you contribute to a pre-tax 401(k) reduces your taxable income for the year.
Your contributions grow tax-deferred - meaning you don't pay taxes each year on the interest, dividends, and capital gains earned in the account.

Roth IRA

A Roth IRA is a type of tax-advantaged individual retirement account that you can contribute after-tax dollars toward your retirement. Unlike the pre-tax 401(k) plan, when you participate in a Roth IRA, you pay taxes on the money before contributing it to the account; then all future earnings are tax-free if you follow certain requirements.

Investment Accounts

Investment accounts can be opened at most financial institutions such as banks, brokerages-or mutual fund companies. They can be used for a variety of purposes, including saving for retirement, but they are not tax-advantaged like many other retirement accounts are. However, they may provide greater flexibility in the management of your finances.

Retirement planning is about more than numbers. It is about building life-long relationships with our clients. Dice Financial provides you with personalized service to meet your specific retirement needs. Contact one of our advisors for more information.