Retirement Planning
We Ensure Every Penny Is Saved For Retirement!
Why Do You Need A Retirement Plan?
Financial Security
Retirement planning ensures a financial safety net during your post-working years. It helps you accumulate savings, investments, and potentially other income sources to manage your expenses.
Long-Term Financial Goal
Planning for retirement involves saving for significant expenses like healthcare and travel without falling short of necessary expenses.
Beat Inflation In Future
By strategically investing and adjusting your savings, you can safeguard your purchasing power over time and manage your expenses.
Reduce Dependency
Adequate retirement planning reduces the chances of depending on government or family support in your later years.
Worry-free Retirement
If you have a well-thought-out retirement plan, you go ahead to secure your future without financial worries.
Retirement Planning Services For Confident Retirement
Retirement Planning Consultation
We offer personalized sessions where our financial experts assess your current situation and define your retirement goals.
Investment Portfolio Analysis
We evaluate existing investments and formulate strategies to optimize your portfolio for retirement.
Pension Planning
We also offer guidance on maximizing pension benefits for a secured income stream post-retirement.
401(k) & Other Employer-Sponsored Plans
We assist in managing employer-sponsored retirement accounts, including contribution optimization.
IRA (Individual Retirement Account) Management
We offer tailored services on setting up and managing IRAs to maximize your retirement savings.
Social Security Optimization
We offer strategies to maximize Social Security benefits and ensure a steady income throughout retirement.
Estate Planning for Retirement
We also offer services to plan the distribution of assets and minimize tax implications for your heirs.
Regular Portfolio Reviews
We review your investment portfolio continuously to adapt to changing market conditions and personal goals.
Tax-Efficient Retirement Strategies
We offer guidance on tax-efficient strategies to minimize liabilities and maximize income in retirement.
Why Choose Hopkins CPA?
- Comprehensive Retirement Planning Services: We cover every aspect of retirement planning to address your needs and help you have a stress-free retirement.
- Personalized Retirement Strategies: We tailor your retirement plan to align with your unique financial goals and aspirations, ensuring a roadmap that suits your post-job lifestyle.
- Financial Goal Alignment: Whether it's travel, hobbies, or simply enjoying life, we help you plan for the retirement you always wanted.
- Confidence in Your Financial Future: Our services aim to boost confidence and encourage smart savings in future. We advise on choosing the right investment strategies and expense management to boost savings.
How to Secure Your Golden Years Through Investments?
Diversify Your Investments
Spread investments across various assets to reduce risk and enhance overall portfolio stability
Risk Tolerance Assessment
Evaluate your risk tolerance to align investment choices with your comfort level and long-term goals.
Regular Portfolio Rebalancing
Periodically adjust your portfolio to maintain the desired asset allocation and adapt to market changes.
Long-Term Perspective
Embrace a long-term approach to avoid market fluctuations and optimize benefits from the compound.
Review and Adjust
Regularly adjust your investment strategy based on changing financial goals and market conditions.
Income-Generating Investments
Consider investments that support your retirement lifestyle and provide a steady income stream.
Emergency Fund Allocation
Ensure a portion of your portfolio is in liquid, low-risk assets for unexpected expenses or market downturns.
IRS Limits on Retirement Plan
401(k), 403(b), 457 Plans, and Thrift Savings Plan
Contribution limit raised to $23,000 from $22,500.
IRA Contributions
Annual limit set at $7,000 for those under 50, and $8,000 for those 50 and older.
SIMPLE Retirement Accounts
Contribution cap increased to $16,000, up from $15,500.
Annual Compensation Limit
Annual limit set at $7,000 for those under 50, and $8,000 for those 50 and older.
Pension Vs Individual Retirement Planning? Your Path To Ideal Retirement
Traditional Pensions
- Guaranteed income provided by an employer after retirement.
- Often based on years of service and salary history.
- Limited personal control over investments.
Individual Retirement Accounts (IRAs)
- Personalized accounts that you contribute to.
- Offers flexibility in investment choices.
- Requires active involvement in managing your retirement savings.
401(k) and Employer Plans
- Employer-sponsored plans with contributions from both you and your employer.
- Allows for pre-tax contributions, potentially reducing current taxable income.
Self-Employed Retirement Plans
- Options like SEP-IRA or Solo 401(k) for self-employed individuals.
- Tailored retirement solutions for business owners.
Retire with Confidence!
