Enjoy Retirement Comfortably With The Right Funds Available To You.

We’re living longer and healthier lives than ever before. Preparing for retirement income takes the worry out of how many wonderful years you spend retired. At certain points up to your desired retirement age, we apply different investment strategies customized for your goals and timeline. We work toward the simplified outcome of a deposit into your checking account each month during retirement.

Converting Wealth To Income Means Security In Retirement.

We start with a cash flow analysis to determine the target retirement income for you. Your needs depend on a host of factors including the elements you want in your retirement such as travel, recreation, adventure, security, and time with family. We look at all of your assets and determine how we can convert your assets to provide the income you will need to fully engage in life. We strive to make it easy, as simple as a deposit into your checking account each month. Our goal is to help you enjoy the other aspects of your life and not worry about having the income you need.

We Keep You Apprised Of Different Tax Situations To Consider.

There are a multitude of tax situations to contend with when dealing with retirement. For example, when you reach 70 ½ years of age you must take out your Required Minimum Distribution or you are assessed a penalty of 50% plus taxes. Our job is to make the rules and regulations accessible to you in terms that make the most sense for your portfolio. We take care of the retirement planning details so you don’t miss out.

401(k): The Wrapper That Holds Your Chocolate Of Choice.

Metaphorically speaking, that is. The wrapper provides certain protections and tax benefits, but the potential of what benefits from the tax arrangement can be a number of things. Loomis Wealth Management works with you to determine the best plan for your 401(k) assets.

Attractive Features In 401k Plans Encourage Individuals To Save For Retirement.

People eligible for employer-offered 401(k) plans save on a pre-tax basis, which lowers their annual taxable earnings. In some cases with qualified plans, additional funds can be contributed on an after-tax basis. Employers may offer a contribution match, encouraging their employees to save. Employer contributions may require employees to become vested through a period of employment before employees have full claim to the money and their investment earnings. Company matches are in addition to salary. Learn more about your options by contacting our professional financial planners.

Increase Flexibility With The Ability To Borrow From Some 401(k) Plans.

Certain plans may be structured to allow certain in-service withdrawals. The IRS regulations contain complex rules that apply to hardship withdrawals. Loomis Wealth Management’s extensive experience and expertise can help you determine the best ways to access cash in various situations. Professional recommendations keep your investments safe.

Multiple 401(k) Plans Exist To Meet Special Situations.

For retirement planning, 401(k)s are increasingly popular options. From Roth 401(k)s to simple and special 401(k)s, which one is right for you? Or will a combination best suit you? Loomis Wealth Management has you covered. We understand the ins and outs of the 401(k) retirement savings plans available today. With your needs, goals, and circumstances in mind, we advise you of all the 401(k) strategies available to you.

What Is An IRA? *

An individual retirement account (IRA) is a personal savings plan that offers specific tax incentives to encourage you to save for retirement. Currently, there are two types of retirement IRAs. Traditional IRAs allow for tax-deductible contributions under certain conditions. Roth IRAs are funded with after-tax dollars, but may allow for tax-free withdrawals under certain conditions.

It is important to realize that an IRA is not itself an investment, but a tax-advantaged vehicle in which you can hold some of your investments. You need to decide how to invest your IRA dollars based on your own tolerance for risk and investment philosophy. How fast your IRA dollars grow is largely a function of the investments that you choose.

Roth IRAs*

Like traditional IRA funds, funds held in a Roth IRA enjoy tax-deferred growth. But the Roth IRA is often described as the opposite of a traditional IRA because other key features differ. Roth IRA contributions are never tax deductible (you can contribute only after-tax dollars), but withdrawals may be completely tax free if you meet the requirements for qualifying withdrawals. For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than: $6,500 ($7,500 if you're age 50 or older), or, if less, your taxable compensation for the year. You may also be able to contribute up to the same amounts to a Roth IRA for your spouse.

You may or may not qualify to establish a Roth IRA. Even if you do, you may not qualify to contribute up to the annual maximum. Whether or not you can contribute to a Roth IRA depends on your annual income and your income tax filing status. Finally, if you qualify, you can convert funds from a traditional IRA to a Roth IRA.

Loomis Wealth Management works with you to determine suitable IRA options.
Traditional and Roth IRAs have their merits. We work with your goals, timeline, and eligibility to try and maximize your saving power.

*Broadridge®/Forefield®