Other topics in this show include:
Retirement Withdrawals in a Down Market,
How to Roll Over Your 401(k),
Pension Buyout Options: Which is Best?

The topics are being presented by Jon Torbet, Art Canfield, Nick Greenman and Jack Klunder, Financial Advisors at Centennial Wealth Advisory. Centennial Wealth Advisory, LLC is a financial advisory firm, specializing in retirement planning and implementing a holistic approach that includes investment management, income planning, tax planning, estate planning and health insurance/Medicare planning. Centennial Wealth Advisory serves all of Northern Michigan and has offices in Traverse City, Cadillac, Gaylord and Petoskey. For more information, please visit www.cen-wealth.com.

Advisory Services are offered through Centennial Wealth Advisory LLC. Insurance products and services are offered and sold through CWA Financial LLC. Centennial Wealth Advisory LLC and CWA Financial LLC are unaffiliated entities.

By contacting us, you may be offered investment services and insurance products available for purchase. Past performance is not indicative of future results. Investments are not guaranteed and can lose money. Securities are not FDIC insured or guaranteed and may lose value. This presentation is for educational purposes only and is not an offer to buy or sell an investment. Neither Centennial Wealth Advisory LLC nor CWA Financial LLC are tax or legal advisors and this information should not be considered tax or legal advice. Counsult with a tax and/or legal advisor for such issues.

Please remember that securities cannot be purchased, sold or traded via e-mail or voice message system. Likewise, insurance coverage cannot be bound, altered, or cancelled via e-mail or voice message system. The content of this show has been provided for informational purposes only and is not intended to provide any specific tax, legal or investment advice or provide the basis for any financial decisions. Be sure to speak with qualified professionals before making any decisions about your personal situation. You should not treat any opinion expressed on the program as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Opinions are based upon information considered reliable, but cannot be warranted as to its completeness or accuracy, and should not be relied upon as such. Statements and opinions are subject to change without notice.

Past performance is not indicative of future results. We cannot guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed on this show. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned on this show may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned on this show. You should consider whether the information presented on this show is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser. Guarantees provided by annuities and other insurance products are subject to the financial strength of the issuing company; they are not guaranteed by any bank or the FDIC. Life insurance is subject to medical underwriting. Annuities are long-term products designed for retirement income. They contain some limitations, including possible withdrawal charges and a market value adjustment that could affect contract values. The Internal Revenue Code already provides tax deferral to IRAs, so there is no additional tax benefit obtained by funding an IRA with and annuity; consider the other benefits provided by an annuity, such as lifetime income and a death benefit. By contacting us you may be offered investments and insurance products available for purchase.

Centennial Wealth Advisory is not licensed to sell insurance, but has individuals on staff that are. Insurance products and services are offered and sold through CWA Financial LLC, a licensed agency in all appropriate jurisdictions….(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

retirement planning is a crucial part of ensuring a comfortable and stress-free life after you stop working. As you approach retirement age, it’s important to consider the various retirement accounts available to you, so you can make informed decisions about where to invest your hard-earned money. Here are some retirement accounts you should consider:

1. 401(k) or 403(b) plans: If you are employed by a company that offers a 401(k) or 403(b) plan, it’s wise to take advantage of this opportunity. These employer-sponsored plans allow you to contribute a portion of your pre-tax income to your retirement account, and in many cases, your employer will also make matching contributions. This is a great way to save for retirement, as the contributions are deducted directly from your paycheck, making it easy and convenient to invest in your future.

2. Individual Retirement Accounts (IRAs): IRAs are another popular option for retirement savings. There are two main types of IRAs to consider – traditional and Roth. With a traditional IRA, your contributions may be tax-deductible, and your investments grow tax-deferred until you make withdrawals in retirement. With a Roth IRA, your contributions are made with after-tax dollars, but your withdrawals in retirement are tax-free. Both types of IRAs offer investment flexibility and a wide range of options for building a diversified retirement portfolio.

3. Health Savings Accounts (HSAs): While not specifically designed for retirement savings, HSAs can be a valuable tool for covering healthcare costs in retirement. If you have a high-deductible health insurance plan, you may be eligible to contribute to an HSA, which allows you to save pre-tax dollars for medical expenses. Any unused funds in the account can be rolled over from year to year, and after age 65, you can withdraw funds for non-medical expenses without penalty (although you will owe income tax on those withdrawals). This makes an HSA a useful supplement to your retirement savings, especially as healthcare costs continue to rise.

4. Solo 401(k) or SEP IRA: If you are self-employed or own a small business, you have access to retirement savings options specifically designed for entrepreneurs. A Solo 401(k) allows you to contribute both as an employer and an employee, thereby maximizing your retirement savings potential. Similarly, a SEP IRA allows for higher contribution limits than traditional IRAs, making it a great option for small business owners who want to save more for retirement.

As you approach retirement, it’s important to carefully consider your financial situation and goals, as well as the specific features and benefits of each retirement account option. Consult with a financial advisor to determine which accounts make the most sense for your individual circumstances, and start planning for a well-funded and worry-free retirement. By taking the time to understand and utilize the various retirement accounts available to you, you can set yourself up for a financially secure and fulfilling retirement.