Retirement Planning
Retirement planning involves exploring savings and investment options. There are also key lifestyle decisions to consider, such as where you'll live or whether you'll continue to work at some level during all or part of your retirement. It's a lot to contemplate!
The good news about retirement planning is that it doesn't have to be too complicated. You can simplify your approach into two fundamental principles: start saving as soon as possible and save as much as you can!
401(k)
A 401(k) lets you save pre-tax income in an employer-offered, tax-deferred retirement account, where employers potentially match a percentage of your contribution. This account then acts as a customizable retirement portfolio, often in mutual funds, that can be tailored to your risk preference (from conservative to aggressive) and investment goals. Except in specific circumstances, you cannot usually withdraw from this account until you are 59 1/2 without tax penalties.
Changed jobs? Don't worry, you can move your 401(k) into an IRA, keep it as is, cash it out, or transfer it into a new employer's plan with guidance from a financial professional.
IRAs
An Individual Retirement Account (IRA), whether traditional or Roth, is a personal, tax-deferred retirement savings account established by an individual and managed by custodians like banks or brokerages. IRAs offer a broad range of investments, including stocks, bonds, mutual funds, treasury bills, Certificates of Deposits (CDs), and potentially more extensive variety of mutual funds.
Investments
Investing may seem challenging, but it can be an opportunity to learn new strategies for those seeking to grow wealth. Whether you're new to investing or looking to refine your approach, our financial advisors can meet you at your comfort level and help you turn your ideas into actions. We offer guidance on a wide range of financial products, from annuities and mutual funds to stocks and bonds. Additionally, you'll have access to our extensive research and analysis resources, including mutual fund reports, tracking, and investment screening, ensuring you're well-informed at every step.
Check the background of these investment professionals on FINRA's BrokerCheck
Estate planning may require tax and/or legal assistance, which neither LPL Financial, nor its registered representatives, provide. Always consult a qualified tax and/or legal advisor for information as to how taxes may affect your particular situation.
All investing involves risk including loss of principal. No strategy assures success or protects against loss
*Securities offered through LPL Financial (LPL), a registered broker-dealer, member FINRA/SIPC.
Investment Advisor Representatives conducting business as St. Mary's Financial Services offer investment advisory services through LPL, a registered investment advisor. Insurance products are offered through LPL or its licensed affiliates. St. Mary's Bank and St. Mary’s Financial Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using St. Mary’s Financial Services and may also be employees of St. Mary’s Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, St. Mary’s Bank or St. Mary’s Financial Services. Securities and insurance offered through LPL, or its affiliates are:
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