"Essentially you face two choices: You either shape the retirement you want to live, or your retirement shapes the life you get.  Either way, your retirement is taking shape."  Wall Street Journal, 1/23/03

Whether you are approaching retirement or are in retirement the concern for most is the thought of not having enough income to afford the lifestyle you currently enjoy or eventually enjoying the lifestyle you’ve waited and worked so hard for.

Either way, retirement income has posed a major challenge for most individuals; one that we at North Wealth Insurance Agency feel a sense of duty to help you successfully overcome.   

There are three major phases of Retirement Income Management

• The Accumulation phase
• The Preservation or Transfer phase
• The Distribution phase

Your NWIA Advisor will take you through each phase and will partner with you to uncover the various opportunities, options, and concerns included in each phase and walk you through the process of:

• Determining how much retirement income you will need.
• Identifying your "income for life" sources.
• Estimating how long your current income plan may last.
• Calculating how much additional income you may need.
• Evaluating your additional income sources.

When developing a plan we will look at all the major elements involved in income planning, including growth, guaranteed income streams, flexibility, and preservation and work with you to develop a plan that satisfies your interest goals and objectives.

Because taxes play a major role in any planning process we will consider the various tax advantaged retirement savings vehicles that currently exist to help you accomplish your long-term income goals, including

• Traditional IRAs
• Roth IRAs
• 401 (K)s
• Annuities.

IRA Rollovers

Do I take a lump-sum distribution and pay down debt or buy that home I’ve been looking at?

Isn’t it simpler just to leave my funds with my current employer-sponsered plan?
Or
Should I consider a Rollover IRA

A rollover IRA is an attractive strategy to continue tax-deferred growth and assume some control and flexibility over your retirement funds when you leave a job. There are two types of rollovers:

Direct Rollover- occurs when your former employer-sponsored plan transfers your assets directly to a new IRA

Indirect Rollover- occurs when your employer-sonsered plan issues a check payable to you and you then deposit the money in an IRA within 60 days formt eh day you received the check.

Both strategies provide for continued tax-deferred growth and can offer greater flexibility with regards to the allocation options in your portfolio.

Remember, you have options regarding the future of your retirement funds when you leave your employer. And while the options may seem a little overwhelming your NWIA Advisor is here to help you make sense of it. Your NWIA advisor will work with you to look through all your rollover options and decide which strategy may be the best for you.

Contact a NWIA representative and get informed today.