Planning Your Retirement
Retirement planning is equally important for those still working and for those who have already retired. In both cases, you’ll want to have enough saved —and to manage it well—to last the rest of your life.
Saving for retirement and managing those funds are integral parts of Premier’s financial planning process. During the financial planning process, Premier will help you clarify your goals and needs during retirement. We will then help you make educated financial decisions so you can attain those goals and meet your needs.
“How much will I need?” is the most frequently-asked question when Premier advisors discuss retirement planning with our clients. Our answer is, “Probably more than you realize—which is why planning for retirement is so important.”
Before You Retire
You and your family have several options to save for retirement before you retire. These could include:
- Participating in your employer’s business retirement plan.
- If you are self-employed or own your own business we can help you manage your business retirement plan.
- Establishing a Traditional or Roth IRA for you and/or your spouse.
- Having family members establish a Traditional or Roth IRA, as long as they have earned income.
Participating in an employer’s retirement plan and establishing IRAs are, however, only part of a retirement saving process. You’ll probably need more money than those investments can yield. Your personal savings will make up the difference between what you’ll get from a retirement plan and what you will want and need.
There are several ways in which Premier’s advisors will help you.
- We’ll help you manage your business retirement plan assets to maximize your returns and avoid the many pitfalls common to retirement investing. As a participant in a business retirement plan, you can choose among several investment alternatives. We’ll help you decide which investments are best for you and when you need to rebalance your portfolio. Then we’ll do the work to make that happen. To make the most of your employer-sponsored retirement plan, you should contribute the maximum amount allowed by law. We’ll help you balance meeting your day-to-day needs now with what you’ll need to save for your future retirement.
- Premier’s advisors will help you save outside your business retirement plan. This, too, is part of your overall financial plan. We help you build a balanced portfolio that will maximize returns and minimize immediate and long-term tax consequences.
- If you are self-employed or a business owner, Premier can help you navigate the business retirement plan environment, while staying focused on the investment goals of plan participants. Premier can help you understand and manage the complexities of plan compliance with ERISA and Department of Labor regulations, while making sure you never lose sight of the retirement security you and your participants are seeking. Premier can help you every step of the way from plan conversions, to plan designs that motivate and help retain key employees, to participant education that helps your team reach their retirement objectives.
- Premier will help you and/or your spouse manage your IRA account, and talk about the differences and advantages of a Traditional or Roth account. Funds in the IRA will be invested in assets that will best meet your goals and needs.
- When you are ready to retire and have the savings to do so, Premier will be there to help. The need to prudently manage your assets doesn’t disappear once you retire. There’s the rest of your life to fund, too. We’ll help you understand the importance of rolling over your business retirement plan funds and re-examine your portfolio to ensure that it is aligned with your goals and needs.
