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Investment Management

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It's Time to Take Charge of Your Retirement Account

The financial markets' contortions in 2008 forced many investors to rethink their portfolios, particularly with regard to retirement accounts. Traditionally "safe" investment vehicles were shown to be nothing of the kind. Casual, self-directed investors were put at a greater disadvantage, as they did not have the experience (or time) to fully understand what they were getting into. Sensational media coverage only made the situation more confusing and discouraging.

As the market continues to find its way, it's well worth examining one's retirement plan in this new light. We have specialized processes to run "what if" scenarios for retirement accounts. You may find that your employer-sponsored 401(k) plan is underperforming relative to other options. Perhaps it makes sense to replace subpar funds in your current plan or roll over old plans from previous employers to self directed IRAs. In nearly all situations, a traditional or Roth IRA will serve you better than a 401(k) sitting unattended at an old employer. Our insight can bring some clarity to your long-term goals.

Roth IRA Conversions

Thanks to recent legislation, the old limitations on conversion to Roth IRAs have now been repealed. This means traditional IRAs, qualified 401(k)s and 403(b)s can now be partially or completely rolled over to Roth IRAs — providing significant tax planning opportunities to mitigate one's income tax liability. Idle 401(k) or 403(b) plans from previous employers often make great candidates for a "Roth rollover"; it also makes a lot of sense if you anticipate a reduction or lack of income in 2010, 2011, or 2012, for whatever reason.

Your IRA strategy is one of the most crucial and influential parts of an overall wealth management plan. It is the fuel that will power your retirement years, and a major component of the assets available to pass to your loved ones with highly favorable tax implications. Careful, objective thought — starting now — is the key. Call us today to start the discussion.