Financial Services in Wilmington, NC

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PLANNING FOR THE FUTURE IS EASY WITH THE RIGHT HELP

No matter where you are on your path to retirement, we're here to assist you.

SPECIALIZING IN:

401(K), 403(B) and Inherited IRA Rollovers
Simple IRA, Roth IRA and Small Business Retirement plans

Our Services:

As financial service insurance professionals, We are here to help guide you through the often overwhelming process of creating an insurance and financial blueprint.

We will work with you to

Review your individual situation and personal objectives. Every family’s financial situation is unique. That’s why it’s so important to find out as much as we can about you and your financial goals. The more we know about you, the more precise recommendations we can make and the more we can help you. As a result, we may take some time to discuss your hopes, dreams and objectives — the things that really matter to you.
Analyze and review your needs. As needed, we will work with you to identify and prioritize your objectives, and then help establish benchmark goals. This is important because we live in a world of unlimited choices. People often fail to achieve objectives because they try to accomplish too much at once, or they don’t attach specific deadlines to their goals. By breaking down your goals to specific objectives, you can look at available resources and decide which goals are realistic, which need to be adjusted and scaled down, and which simply must be abandoned.
Develop and implement a strategy to help you achieve your goals. Based on our conversation and analysis, we can recommend some insurance and financial products that can help you achieve your financial goals.
Coordinate your financial activities. If you would like, we can also coordinate your insurance and financial activities for you with the other members of your team of financial, tax and legal advisers.
Monitor progress; provide ongoing service as your needs and situation change over time. Planning is not a one-shot deal. Strategies need to be adjusted periodically as your life changes. We will work with you over the years to help keep your program on track with your changing needs.

Does Market Volatility Concern You?

When Should You Start Planning?

As with most other things in life, the key to achieving your long-term financial objective is planning. Your goal may be to fund your children’s college education, protect your family during your working years, or guarantee your own retirement security. These things won’t happen by accident. It’s important to determine what you’d like to achieve financially and then map out a strategy that will help you meet those goals. The good news is it’s never to late to start!
Of course, planning your financial future can be intimidating. Luckily, you don’t have to do it alone.
We can help you identify your financial needs and then determine which insurance and financial products can best help you meet your objectives.mentions and other pieces of content that don’t fit into a shorter, more succinct space.

Preferred Asset Liquidation

Determine Preferred Asset Liquidation Sequence

Which of the various buckets should be siphoned first—or last? Clients will not only need to gauge market conditions when deciding which assets to sell and buy, but they will also need to pay attention to withdrawing funds in a way that minimizes taxes. Generally, clients are advised to:

withdraw taxable assets first
draw down tax-deferred accounts next
withdraw funds from tax-free accounts (Roth IRAs and municipal bonds) last

Financial experts generally recommend deferring taxes as long as possible. This means that if clients have a choice between paying taxes this year or next, they should choose to defer paying taxes. Therefore, as a general rule, clients should first tap into any accounts that generate taxable gains or income. This strategy gives tax-deferred and tax-free accounts more time to grow unencumbered by taxes, and interest earnings that otherwise would have been taxed remain intact to compound fully. Because tax-deferred investments’ growth is not curbed by taxes, these investments will grow faster than taxable accounts.

Clients might also consider selling assets that would net modest capital gains before using tax-deferred assets. For example, the gain on the sale of stock is typically taxable as a long-term capital gain (if the stock has been owned for longer than one year). In contrast, tax-deferred accounts will be taxed at ordinary income tax rates. The savings that may be derived from paying capital gains tax versus ordinaryincome tax can be quite significant, and that savings can be used for current income needs or reinvested.

After taking withdrawals from taxable accounts, clients should move to tax-deferred accounts next, including traditional IRAs, qualified plans, and annuities. By turning to these accounts only after drawing down

taxable investments, your clients have allowed their nest eggs to accumulate more, due to the combined benefits of tax deferral and compounding.

Keep in mind that funds have to be withdrawn from traditional IRAs by age 72, while distributions from qualified plans must begin by the later of age 72 or when the client retires. Strategies for withdrawing assets must also consider any potential penalty taxes: the premature distribution penalty tax for withdrawing funds before age 59½ or the 50 percent excise tax for failing to take required minimum distributions after age 72.

Again as a general rule, the last assets to be touched in an asset liquidation strategy are those that generate tax-free returns. These include Roth IRAs and municipal bonds. Withdrawals from Roth IRAs are tax free, provided the owner is at least 59½ years old and has owned the account for five years or more. They also are not subject to the minimum distribution rules, and Roth assets can be passed to heirs tax free. Withdrawals can be spread out over their lifetimes, which will give their inheritance additional years to grow, tax free. By tapping into Roth IRAs and municipal bonds last, a person will get the most tax-free income.

Financial Services