Retirement Planning
Retirement Planning
At Wealth Alliance Group, our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone to our foundation of success.
Our site is filled with educational videos, articles, slideshows, and calculators designed to help you learn more. As you search our site, don’t hesitate to send our team questions you may have about any of the services we offer. We’ll always get back to you quickly with a thoughtful answer!
Roth 401(k) vs. Traditional 401(k)
Your retirement income can vary widely depending on what type of account holds your savings and what assumptions are made about overall returns and tax rates during the accumulation and withdrawal periods.
Self-Employment Retirement Plan Maximum Contribution
Compensation for a self-employed individual (sole proprietor or partner) is that person’s “earned income.”* The starting point to determine the individual’s earned income is the net profit amount from the Schedule C (or Schedule K-1 for a partnership).
Retirement Resources
Where will your retirement money come from?
If you’re like most people, qualified-retirement plans, Social Security, and personal savings and investments are expected to play a role. Once you have estimated the amount of money you may need for retirement, a sound approach involves taking a close look at your potential retirement-income sources. We can help!
8 Timeless Principles of Investing
FOCUS ON WHAT YOU CAN CONTROL
Market movements, business decisions, economic events, politics, interest rates—many factors can influence the performance of your investments. Instead of worrying about events that are out of your hands, focus on what’s in your control.
PUT TIME ON YOUR SIDE
TUNE OUT THE NOISE
DON’T TRY TO TIME MARKETS
UNDERSTAND ALL FORMS OF RISK
Market risk– or the risk of your portfolio losing value due to factors such changing market conditions– isn’t the only type of risk to be concerned about. Personal risk, such as longer lifespans and rising healthcare costs, means that Americans needs to consider a variety of factors as they prepare for retirement. Understanding risk as it relates to your time horizon and investing goals is critical to a financial strategy.
AVOID THE EMOTIONAL ROLLER COASTER
Emotional decision making can lead to making the wrong decision
at the wrong time. A Dalbar study found that while the S&P 500
returned 9.85% for the 20-year period ending in 2015, the average
investor fared worse, seeing a return of only 5.19% during the
same period. Emotional decision making was one of the factors
that contributed to the difference in performance.3
3. The Balance.com, 2020
THE COST OF PROCRASTINATION
The sooner you begin investing, the longer your money can work for you. Let’s look at two hypothetical investors, Sally Starts and Dave Delays. When Sally turns 50, she starts contributing $25,000 a year to an account that earns a hypothetical 6%. After 10 years, she stops making payments. Dave puts off his investing program. At age 60, he begins setting aside $25,000 a year into an account that earns a hypothetical 6%. Though both have contributed equal amounts, Sally has the magic of compound interest working for her. When they both reach age 70, Sally’s account balance is nearly twice the size of Dave’s.4
4. This example is for illustrative purposes only and does not represent an actual investment or combination of investments. Annual contributions are made at the beginning of the compounding period. This hypothetical example does not reflect taxes or any fees. Past performance does not guarantee
future returns.
DELEGATE THE DETAILS
