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But wait…I thought IRA’s were a good thing?

And they are. Like everything in life, they have their place, but they are not the be-all and end-all solution for retirement.

You have probably heard your whole life that you need an IRA to save for retirement. And now – someone is going to tell you to get rid of it?

Well, not entirely.

We provide something we like to call, an IRA Rescue plan.

It doesn’t mean you have to get out of it entirely, but gradually, over time, moving money out of your IRA or 401k, and into something else.

You see, IRAs are in the category identified as ‘qualified funds’.

Qualified Investments are accounts that are most commonly known as retirement accounts.

  • The contributions can be deducted from your taxable income in the year they are made

  • The contributions and earnings from the investment are delayed as taxable income until they are withdrawn (Tax-Deferred)

  • You can delay paying taxes until the year after you turn 70.5 at which time RMD (Required Minimum Distribution) begins.

  • Contribution Limits do apply

Non-Qualified Investments are accounts that do not receive preferential tax treatment.

  • You can invest as much or as little as you want in any given year
  • Withdraw at any time
  • Growth is tax-deferred

Many clients are out of balance with the amount of qualified funds in their portfolio, meaning if they do not have a plan to reduce their IRA, or 401k funds to a manageable ratio, they will be stuck in a high tax bracket for the rest of their lives. These clients need our IRA rescue plan.

If you are a client with over 50 million dollars of net worth, you likely do not need to be ‘rescued’.

But, for the rest of us, it takes a comprehensive, well thought out and executed plan to move money from Qualified accounts to non-qualified, minimize tax liability and protect against Medicaid Spend-down.

And that’s where we can help! We are the experts in helping you create a plan to re-balance your qualified vs non-qualified ratio and protect your wealth.

Contact us today, and let us help you get into balance.