Retirement Planning

Retirement Planning

Secure your lifestyle by planning for the future.

Envision your future.
We'll help you get there.

A critical component of ay comprehensive wealth management strategy is retirement planning. We'll work alongside you to ensure you can enjoy your current lifestyle, even after retirement. Other goals include not having to worry about outliving your assets as well as looking at tax deferral strategies which can substantially reduce your current taxes. We can provide a variety of Individual Retirement Accounts and qualified retirement plans.

Our retirement planning services

  • Profit sharing plans
  • 401(k) plans
  • Customized defined benefit plans
  • 403(b) plans
  • Simple IRA plans
  • Individual 401(k) plans
  • Traditional and Roth IRAs
  • Rollover IRAs
  • Deferred compensation plans

Other related services

 

*Investment advisory services offered through HK Financial Services (HKFS), an Independent Registered Investment Advisor.  Commission-based securities products are sold by ProEquities registered representatives and offered throughProEquities, Inc., a Registered Broker-Dealer and member of  FINRA and SIPC. Insurance products issued by many highly rated carriers.  HKFS, ProEquities and Boyum Barenscheer, PLLP are independent of each other.

This material is being provided for informational purposes only with the understanding that neither HKFS nor ProEquities is rendering tax, legal or accounting advice.  Please consult with your CPA or other appropriate advisors on all matters pertaining to legal, accounting or tax obligations and requirements.

FAQs

 
When can I retire?

Your retirement date depends on your overall financial plan.  How does your current plan measure up to your long-term goals?  We can generally safely state that your retirement age does impact your retirement income and don’t forget that retirees still pay taxes!  This is a huge decision for most of us and one that we would be happy to assist you with.

 
How much money do I need to retire?

Unfortunately, there is no magic number here!  This depends on your long-term goals and future income like social security, pension or retirement benefits and any other income streams.  We can assist you with assessing if your long-term retirement plans are sustainable.

 
What employer sponsored savings accounts or financial benefits should I take advantage of?

We an assist you in determining how your 401(k) or other employer retirement plan fits into your broader retirement plan.  We will also work with you to assess how your plan is impacted by other employer provided benefits such as flexible spending accounts, health savings accounts and employee equity incentives.  Remember, if your employer offers contribution matching to your retirement plan, it is generally advisable to fund enough to at least get the full employer match.

 
Where should I take my retirement withdrawals from?

The general approach for the most tax-efficient order of withdrawals from retirement savings is to draw down your taxable accounts, followed by tax deferred accounts such as IRA’s or retirement plans, finally the non-taxable accounts such as Roth IRA’s.  however, your situation is unique and this may not be the best advice for you.  We’d be happy to assist you in this analysis.

Contact John for more information

John Csargo, CPA, MBT, CFP®

John Csargo joined Boyum Barenscheer in December 2015 as the firm’s newest partner.  His 30 years of extensive experience helping individuals and businesses with their tax planning and providing advice to make the best financial decisions for short and long-term goals is a great addition to BB’s Tax Department.