A Guide to Financial Advice, Planning & Wealth Management

How is it all going to work when it’s your time to retire?

Transitioning from a paycheck to living off accumulated investments and retirement plans can and frequently create anxiety. Additionally, most people entering retirement do not realize that different types of income will create different income tax outcomes.

Part of the problem stems from the fact that Congress has created different “classes” or types of income that are not treated equally at tax time. Therefore, even though you and your neighbor may have the same total amount of income in retirement, your taxes may be completely different because of the sources of that income.

For example, two individuals living next door to each other have $72,000 of income in retirement; one couple pays $4,546 in Federal and state taxes while the other only pays $35 in combined taxes. Who would expect that type of outcome? Our Wealth advisors will work with you to understand your unique tax situation and identify opportunities that may allow you to keep more of your money.

Retirement planning involves several factors

  • Aligning your investing style and choices with long-term goals
  • Disciplining your approach to saving for retirement
  • Tracking continual progress toward achieving your long-term goals

Because your retirement can span decades, monitoring your financial plan and making adjustments as needed is crucial to your long-term financial success. We will work alongside you in an effort to prioritize financial goals, enhance growth, create dependable income streams, and identify tax-efficient income strategies.

4 Areas of Retirement Planning

Individual Retirement Plans

If you cannot participate in a company retirement plan, REDW Wealth can help explore the choices available for individual retirement plans.

Frequently, these plans can be the first choice for developing businesses and can help to create the foundation for a more sophisticated, future retirement plan. They are generally inexpensive, easy to establish and maintain, and offer tax incentives.

  • IRA
  • Roth IRA
  • Spousal IRA
  • Solo 401 (k)
  • Simple / SEP

Retirement Income Planning

Supplemental income in retirement can come from many different sources.

Some of them include rental income from real estate, royalties from oil and gas production, and pensions from employment. If you are faced with pension elections, we can help you choose the option that will work best for you.

  • Self Employment
  • Pass Through
  • Tax Free
  • Rent
  • Royalties
  • Pension
  • Portfolio Income

Supplemental Benefits

In this subdivision of Retirement Planning, one of the most important issues to deal with is how individuals will ultimately claim their Social Security retirement benefits.

Social Security is foundational to retirement income needs and understanding your claiming options is crucial in retirement income process. As an individual, spouse, survivor, or an additional beneficiary, REDW Wealth can help you make informed decisions in an attempt to optimize your Social Security benefits.

  • NQDC
  • Social Security
  • Asset Sale
  • SERP
  • Inheritance

Distribution Planning

At the heart of your retirement income plan is the distribution of accumulated and inherited assets. Selecting the optimal distribution method will help ensure that your retirement savings will last for the longest period possible. Our trusted advisors continually examine how the law changes surrounding inherited retirement assets. In some circumstances, our wealth advisors can help identify alternatives that may reduce taxes associated with inherited assets.

  • Beneficiary Planning
  • IRD
  • RDM Projections
  • Post Death Planning
  • Pre 59 1/2 withdrawals
  • Social Security claims
  • Cash Flow Needs
  • Inherited IRA

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Are you just starting to think about a financial business plan or looking for consulting on employee benefits, succession planning executive compensation, or an employer-sponsored plan? We can tailor a strategy intended to help you feel confident and in control.

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Fair and Balanced Disclosure

Not all services will be appropriate or necessary for all clients, and the potential value and benefit of the advisor’s services will vary based upon a variety of factors, such as the client’s investment, tax, and financial circumstances and overall objectives. The effectiveness and potential success of retirement plan depends on a variety of factors, including but not limited to the client’s employer benefits program and retirement savings, the client’s retirement horizon, coordination with the client and the client’s other engaged professionals, and market conditions. Past performance does not guarantee future results. All investing comes with risk, including risk of loss. REDW Wealth LLC is not a law firm and no discussion with REDW Wealth LLC concerning legal concepts should be construed as legal advice. All clients are encouraged to consult the legal professional of their choosing. Advisory services provided by REDW Wealth LLC. Tax and accounting services provided by REDW LLC.

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