Your Retirement

Given the state of our economy, stock market volatility, and concerns over Social Security, most everyone focuses on RETIREMENT PLANNING.  Consequently we have developed a wide variety of retirement plans for both individuals and small businesses.

Below is a brief description of major retirement plans.  All data is supported by www.irs.gov.

Since many plans arevery deatiled and tend to be confusing, we offer a free, no-ogligation  review.

DON'T NEED YOUR REQUIRED MINIMUM DISTRIBUTIONS?

Many clients do not want to withdraw from their IRAS and/or 401(k) plans because of taxes.  You can shelter 25% or $125,000 (whichever is lessor) of your entire Qualified Retirement  Plans with a Qualified Longevity Annuity Contract (QLAC).  Call to allow me to explain the process.

FOR YOUR RETIREMENT PLANNING

Need a concise 15 minute snapshot on reaching your retirement goals?  Call or email me for a free,power-packed, innovative presentation that will give your goals a new and refreshing look.

For State Employeess

We  can help with your New York State Deferred Compensation Plan. By adding SELF-DIRECTED OPTIONS, you will have dozens of additional investment options to choose from and also receive our professional guidance.  Call or email for more information.  We will provide a prospectus and detailed information on fees and expenses.   

INDIVIDUAL PLANS

Traditional IRAS

Individuals can deduct up tp $5,500 each tax year, $6,500 if over Age 50.  If YOU or YOUR SPOUSE is covered by an Employer sponsored retirement plan (i.e. 401k) then your contributions are PHASED-OUT if Your Modified Adjusted Gross Income  is between $98,000 - $118,000.  Consult with a CPA.

Roth IRAS

Individuals can contribute uo to $5,500 each tax year, $6,500 if older than 50.  However, such contributions are not tax-deductible but do accumulate tax-deferred.  You contributions are phased out if your Modififed Adjusted Gross Income is between $184,000 to $194,000. Consult with a CPA.

403 (B) Plans 

Retirement plans offered by tax-emept organizations and public schools.  Generally, you can deduct up to $18,000 per tax year, $24,000 if older than 50 years of age.  You can also make non-deductible Roth 403b contributions, if you employer allows such option. 

FOR YOUR ACCELERATED TAX SAVINGS

Because TAXES are rising, we constantly strive to offer the newest cutting-edge techniques in MAXMIZING Tax reduction to help preserve your Estate.  We have assembled a special team devoted to CASH BALANCE PLANS to shelter significant monies from TAXES.

PLANS FOR SMALL BUSINESS OWNERS

401 (K) Plans

Generally, maximum 401(k) employee contributions are $18,000 with $24,000 for individuals over 50. Employers can match employee conributions.  The total contribution limits for a 401(K) plan with  Profit Sharing  is $57,500.  401 (k) plans can offer a Roth 401(k) option  if the plan sponsor permits such  election.

OTHER RETIREMENT PLANS

Defined Contribution Plans (Profit Sharing and Money Purchase)

Defined Benefit Cash Balance Plans

Target Benefit Plans

SEP-IRA

Simple IRA

Excess Benefit Plans