Future Planning

It's never too early to start saving for retirement. Recent tax reform has enhanced certain planning opportunities.

If you own a retirement plan account, such as a 401(k) or IRA, it is important for you to know that the rules concerning required minimum distributions (RMDs) from these accounts have been suspended for the 2009 year only, under a provision of the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA). This waiver essentially allows you to leave your retirement savings untouched for another year, so that they can continue to grow through tax deferral.

You may still have time to accumulate sufficient retirement asset, provided you plan ahead, stay disciplined, and regularly review your strategies. You may be asking yourself, "How much should I be saving?" While a disciplined savings plan is an excellent idea, you need to look at retirement plans that offer immediate tax benefits as well.

The number of available retirement plans can be overwhelming. How do you determine which plan will best provide for you at the time when you need it most? Often, it's a combination of plans that may work best for you.

We can help make sense of your retirement plan options, as well as advise you on how changing tax laws will impact your current plans.