Tailored Solutions for Retirees
Retirees generally face a variety of financial concerns, including how to generate income from their retirement savings,how to manage their investments to meet their present and future needs, and how to protect their assets from market volatility and inflation. Our advisors work closely with clients to develop customized strategies that address these and other concerns.
One of the services we offer to retirees is investment management. We have years of experience in this area with a deep understanding of the financial markets and ability to create portfolios tailored to our clients’ needs with market movements in mind.
We pride ourselves on taking a holistic approach to investment management, considering factors such as risk tolerance, time horizon, and income needs, to create personalized investment plans that help our clients achieve their financial objectives.
Income Planning Services
Retirees often rely on their retirement savings to provide a steady stream of income, so it’s important to have a plan in place that ensures those savings can last throughout their lifetime. We are experienced in helping retirees create an income plan that takes into consideration their retirement goals, expected expenses, and other factors that can influence income and outgoings.
Estate Planning for Retirees
Estate planning is a particularly complex area, but our advisors are highly experienced in delivering solutions that ensure clients can protect and transfer their assets to their heirs. Estate planning can be an emotive area which we handle with the utmost sensitivity and compassion.
At Ferguson-Johnson Wealth Management, we understand that retirement is a time of transition, and we’re committed to helping our clients navigate this new phase of their lives with confidence and positivity.
In addition to the financial planning and portfolio management services we offer, we also provide a range of educational resources and tools to help retirees grow their knowledge and continue to be engaged in the financial planning process
If you’re a retiree looking for expert financial advice and support, we encourage you to contact us to learn more about how we can help you achieve your financial goals.
Frequently Asked Questions by Retirees
1. What investments are appropriate for retirees?
If a retiree will be relying on the income from an investment portfolio in retirement, then the allocation of those investments is very important. For many retirees, a mix of stocks and bonds using mutual funds and exchange traded funds (ETFs) is a good starting point for building out a retirement portfolio. The balance of stocks and bonds is critical for managing risk while allowing for long-term portfolio growth.
2. Do you really need a financial advisor when you retire?
If you adhere to an investment philosophy, regularly review and revise your portfolio, stick to a plan and invest wisely, you can, of course, manage your own funds. However, seeking professional advice helps remove some uncertainty from the retirement picture.
Financial advisors – especially fee-only fiduciaries who act in your best interest – can offer financial plans to help you understand your financial security and optimize investments to better meet your goals.
3. How does a Roth IRA work?
A Roth IRA is an individual retirement account where you pay taxes on money put into the account, and all future withdrawals are tax-free. You can’t deduct contributions to a Roth IRA from your taxes, qualified distributions are tax-free, you can continue to invest in your Roth IRA for as long as you have it, and you can leave funds in the account for as long as you like.
There are yearly contribution limits to Roth IRAs, however, and if you have more than one IRA account, you need to know your combined yearly contribution limit.
4. Which one is better: IRA or 401k?
Both accounts let your savings grow tax-deferred with contributions that are tax-deductible. Distributions from these account are taxed as ordinary income. The main difference is 401(k)s are offered as a benefit from an employer.
You usually can only make contributions to a 401(k) if you still work for that employer. Many investors find that once they leave employment, it makes sense to rollover a 401(k) into an IRA.
If you establish an IRA at a large custodian (such as Fidelity or Charles Scwhab) you gain access to the full universe of investments instead of the limited menu provided by a 401(k) plan. Furthermore, most 401(k)s have numerous layers of fees that could be avoided by moving the asset into an IRA.
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