It’s important for you to know that having a 401(k) or similar account is not the same as having a retirement plan. Remember that, unless your 401(k) is a Roth, all of the money you have saved is subject to income tax once you withdraw it, and you must begin to start withdrawing it annually starting at age 73. That’s why you must have a plan for retirement, and tax efficiency plays a crucial role, as it directly impacts the amount of money you can keep and use in retirement.
By strategically managing the tax implications of your retirement accounts, you can potentially minimize taxes over the long term, allowing your savings to grow more effectively. Diversifying your retirement savings across both taxable and tax-advantaged accounts can provide flexibility in managing your tax burden when you begin taking distributions in retirement.
We named our firm Cornerstone because it’s that first cornerstone you lay when building a house that determines the strength of your foundation. We help people build retirement income plans designed to last throughout their entire retirement—even if it’s 30 years or longer. We help clients coordinate all critical areas of their retirement income so that they can enjoy a strong foundation in order to live a better life, and all our energy, commitment and efforts are focused on our clients and their satisfaction.
Whether you are preparing for retirement or recently retired, having a plan provides the framework and foundation for making life’s important decisions. As a trained and licensed financial advisor who is independent of any particular financial institution, Tim Ward has access to hundreds of strategies and services which may be used as part of your customized retirement plan. Our firm will strive at every point to help you create clarity, confidence, and control.
We believe planning ahead can give you the greatest chance for success. You may spend 20 to 30 years or longer in retirement, and that’s why retirement income planning is so critical. Our goal is to help you 1) save for retirement, 2) generate income from your saved assets, and 3) retire without running out of money, no matter how long you may live. Our approach is to learn as much as possible about your situation and goals, think ahead to help avert catastrophes that might occur, then create your custom plan.
We are here to answer your questions and provide help when it comes to managing, saving, investing, growing and protecting your wealth. Browse the resource library here—we invite you to read, watch and learn more about the basics of finance and retirement. And remember, please feel free to contact us if you have any questions.
Helping You Make Better Financial DecisionsWe offer a tool called Asset-Map to help give you more financial clarity. An Asset-Map report visually organizes all of your household’s finances in a clear graphical layout allowing you to visually see where you stand, and allowing us to apply professional insight in real-time. Asset-Map helps us collaborate in our efforts to work together with you to help you achieve your goals.
Browse through our animated videos to learn about financial principles that can help you whether you are busy accumulating and growing wealth, getting ready to retire in five to 10 years, or living in retirement now. One of our biggest goals is to educate consumers about financial matters, especially retirement, and we hope these videos help make things clearer.
The articles on our blog are designed to teach you about financial concepts that can help you in your pursuit of financial independence, attaining greater wealth, investing wisely, saving for retirement, retiring someday, paying for college for your kids, putting an estate plan in place, and many other topics. Be sure to bookmark it and come back regularly!
Are you ready to create a tangible plan to take you to and through retirement? Ideally, we will start at least five to 10 years prior to your desired retirement date. Our process will start with discovery—we will help you understand what you have in place and answer the question, “how much is enough” when it comes to how much income you will need in retirement and explore potential sources to meet those needs. Consultations are free and without obligation. Please call us at (217) 322-4969 or fill out and submit this form.
