Retirement planning is an essential component of almost every financial planning process. Conventional wisdom has given many individuals a false sense of security about many elements of their retirement. Generally speaking, retirement plans fall into four broad categories which include government sponsored retirement plans, personal retirement plans, annuities, and employer sponsored retirement plans. Within these plans there are many important issues to consider. For example, certain plans are considered "qualified" retirement plans, which comply with applicable law so that taxes are deferred on contributions and earnings until withdrawn, while others are not. With respect to employer sponsored plans important factors to consider would include employee matching polices with respect to defined contribution plans and pension eligibility requirements with respect to defined benefit plans.
With so many different options and products available, it is critical to plan your retirement properly. At Centricity Financial, we will help navigate you safely through the retirement maze, and set up a plan that effectively addresses your goals and objectives. Through proper planning and management, our clients can be assured that their investments will provide them a steady stream of income during their retirement years.