Time is a key aspect when building a secure financial future. Because an individual's retirement years can span decades, retirement planning generally dominates other financial goals. A successful plan in place during your working years should address ways to help maximize growth and prepare for tax-efficient distributions.
Choosing the Right Plan
All retirement plans are not alike. But there is a plan that is right for you. And the decision process for selecting the right retirement benefit plan involves a number of key factors.
As an individual they may include:
- Your earned income level;
- Your spouse's earned income level;
- Your tax status;
- Your age.
If you are a business owner, they may include:
- The nature of your business;
- The number of employees at your company;
- The level of benefits you wish to provide;
- The level of contributions you wish to make; and
- Future plans for expansion within your business.
Retirement planning is an important component to wealth management, and a good retirement plan will be well-coordinated with your overall plans for investments, insurance, business, estate, and taxation. A Q3 Capital, LLC financial advisor can create a retirement savings plan customized to fit your needs. We will assist you in selecting the retirement plan that best meets the needs of you, your family, and/or your business.