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The New Year is a perfect time to focus on better managing your finances, especially when it comes to retirement planning. So, as you put together a list of resolutions, make sure you are fully preparing for your financial future. Whether you’re a younger professional leaving a job and needing to move funds from a former retirement plan or you’ve just concluded a successful career, this is a good time to make sure you have a solid investment blueprint.

Firms like Marshall & Sterling Wealth Advisors Inc., a division of Marshall & Sterling Enterprises Inc., can help you develop a sound strategy for your retirement. Based in Poughkeepsie, Marshall & Sterling emphasizes personal attention so that you can develop a plan that best suits you, your family, or your business.

There are several popular retirement tools:

A Traditional IRA is an investment vehicle that allows you to deduct your annual contribution — up to the annual maximum based on IRS eligibility requirements — from your income. The primary benefit of a Traditional IRA is that all account growth is tax deferred. Another advantage is contributions may be tax-deductible for qualified account holders.

A Rollover IRA is a Traditional IRA that is often used when changing jobs or retiring. This allows you to transfer assets from your former employer’s retirement plan and maintain the tax-deferred status of those assets.

Another very popular investment tool is the Roth IRA, which allows you to make contributions of after-tax money, which then allows your money to grow tax-free. You can also take tax-free withdrawals in retirement as long as you meet the conditions set by the IRS.

Here are some important facts you need to know about retirement so you can start 2015 on a solid path:

  • You’re never too young to plan for retirement. About half of IRA owners are between ages 45 and 64. This fact strongly suggests that not enough people start actively planning for retirement early enough.
  • The Roth IRA is a strategically important retirement account, especially for those under 45 that meet the income requirements. In general, the younger you are, the more attractive a Roth IRA is for you. About 46.5 percent of those owning a Roth IRA are under the age of 45.
  • About 40 percent of IRA and Roth IRA contributions are for the full maximum allowable amount. Making the maximum IRA contributions may be important for certain savers, especially if you do not have an employer-sponsored retirement plan that makes a matching contribution and you meet the income requirements.

As you make plans for the New Year, remember to lay the financial groundwork for a successful 2015… and beyond.

Marshall & Sterling Wealth Advisors Inc. focuses on managing investments in an effort to help clients meet their investing goals as well as live a comfortable retirement. The firm has more than 30 years of insight and knowledge from successfully managing client portfolios in constantly changing markets.

retirement planning
marshall and sterling wealth advisors

Marshall & Sterling Wealth Advisors, Inc.
110 Main Street
Poughkeepsie, NY 12601-3080
Tel: 845-554-1046, 855-MS-WEALTH
Fax: 845-625-1640

Marshall & Sterling Wealth Advisors, Inc. (“Marshall & Sterling” or the “Firm”) is a registered investment adviser with its principal place of business in the State of New York. Marshall & Sterling may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. The distribution of the Firm’s information via email and its publication on the Internet should not be construed by any consumer and/or prospective client as Marshall & Sterling’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, via email or over the Internet. Marshall & Sterling does not provide tax or legal advice. You should contact your tax advisor, accountant and/or attorney before making any decisions with tax or legal implications. The Firm does not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Marshall & Sterling’s website or incorporated herein, and takes no responsibility therefore. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly. Past performance is no guarantee of future results. Any subsequent, direct communication by Marshall & Sterling with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Marshall & Sterling, please refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). For additional information about Marshall & Sterling, including fees and services, send for the Firm’s Disclosure Brochure using the contact information herein. Please read the Disclosure Brochure carefully before you invest. This email may contain links to external websites outside Marshall & Sterling, which means you will leave our site. These other sites are not subject to our privacy policy and we are not responsible for the content, ideas, opinions or other information posted on these other sites.

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