Stone & Sallus offers assistance with retirement planning and estate planning in Los Angeles and its surrounding areas. When it comes to retirement planning, there are several factors you need to consider as IRA investment is guided by strict rules. To ensure your financial security, it’s important to take appropriate measures in advance that include hiring a law firm that understands your needs. Remember the decisions you make now will greatly affect your future.
At Stone & Sallus, our goal is to educate our clients on what they need to do with regard to their retirement plans. We have a team of highly experienced lawyers that will assist you to understand complex rules and maximize tax-advantaged retirement accounts as well as make proper investment choices for a secure financial future. We take pride in offering the best services in Los Angeles and securing the financial future of its residents.
Should You Consider an IRA as a Retirement Plan Option?
As long as you qualify for an Individual Retirement Account (IRA), there’s no reason why the IRA should not be part of your retirement plan. It’s important to understand that there are various types of IRAs including Roth-IRAs, Traditional IRAs, SEP-IRAs, and simple IRAs. Traditional IRAs and Roth-IRAs are popular among many people because the other forms are reserved for independent contractors, small business owners and the rest of the population without formal employment.
An IRA generally allows you to invest a specific amount of money every year depending on your income. For a traditional IRA, money is always invested with pre-tax dollars. On the other hand, with Roth-IRA, your money gains interest and can be withdrawn minus any tax gains. Tax benefits of an IRA can be significant – meaning that if your income is not enough to qualify you for IRA deductions, then you stand to benefit a lot from allowing the government to subsidize your savings.
Since the government allows people to invest a specific maximum amount in an IRA annually, it would be important for you to start saving early. Besides that, you should also understand that an IRA is a retirement account and not an investment parse. Consequently, you need to do more after investing money in that account such as buying mutual funds, stocks or any other investment that can be held in your IRA account.
What You Need to Know About Retirement Planning
One of the most important steps in a retirement plan is learning about IRAs within your state. Most people today find it hard to keep up with their retirement savings in their golden years. The social security payments can’t cater to most of their basic needs, let alone afford a comfortable life.
That’s the reason why you need to take the initiative to secure your future now. At Stone and Sallus, we offer Los Angeles retirement planning to help individuals who want to plan early for their financial future. We work with individuals (young and middle-aged) who want to start saving for retirement early as well as seniors who have decided to take their retirement savings to another level.
We are focused on ensuring that your savings as a senior are not exhausted early. Our qualified retirement planning lawyers will take you through the following process to achieve your retirement goals:
- Setting up of retirement goals that will ensure you have adequate money for your golden years
- Selecting appropriate IRA accounts that give you an opportunity to take advantage of tax breaks for retirement savings.
- Taking the right steps in protecting assets to ensure your property and retirement accounts are kept safe from any claims against you.
- Long-term planning (on care costs) such as developing a plan to prevent you from spending your savings before qualifying for Medicaid that’s supposed to cover nursing care.
- We also help you understand the rules pertaining to taking money from retirement accounts while at the same time incurring minimal taxes.
How We Help with Los Angeles Retirement Planning
Stone & Sallus provides comprehensive help with retirement planning and IRAs to customers in the larger Los Angeles area. Our team of highly knowledgeable and experienced lawyers is always on standby to help.
We have been in operation for many years and learned the needs of most of our clients. That’s why our main objective is to ensure that our clients make smart and informed retirement plan choices. To schedule a consultation with one of our Los Angeles retirement planning lawyers, contact us online or call us at 310.889.0233.