It is not too late to begin planning for a comfortable living after work. We know preparing for retirement can be a daunting task, let us help. 

Retirement Planning

Merit Financial Advisors wants to help you pursue your retirement plans, whatever they may be. Our team is here to help with strategies on how to reach your retirement goals.

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Retirement Income

First, it is important to understand the different income sources and expenses you can expect in retirement. 

  • Income sources: sources may include 401(k)s, IRAs, annuity(s), pension(s), social security, individual company stock, spousal/partner income sources, inheritance, non-qualified accounts, etc.
  • Income amounts: Estimate the amount of income that is planned from each source and how long it is estimated to last. 
  • Retirement expenses: List expenses that will continue in retirement, new expenses, and expenses that may be eliminated.
  • Emergency fund: Determine what is appropriate for an emergency fund. Remember life does not stop just because you retired.

We specialize in the following companies:

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Tax Planning

When it comes time to retire an important thing to be aware of are the tax changes.

  • Local state income tax: after you determine which state(s) where you will retire, we will help determine what tax factors may influence your retirement decisions.
  • IRAs and 401(k)s: We will help you understand the tax implications of each of these investment platforms and determine what mix may be best for you and your family.
  • Deferred compensation: For some employees, they may have the option to invest in deferred compensation. Merit will help evaluate the tax advantages of this.
  • Are you under the age of 59.5? There are IRS tax codes that will allow a person retiring to draw income from a traditional IRA/401(k) and avoid the 10% early withdrawal penalty. We can help you navigate this.
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Financial Planning

If you do not already have a financial plan in place, it is time to build one. Our team of Financial Planners will partner with you in building out a plan tailored to your needs. Our comprehensive financial planning process includes:

  • Wealth Enhancement Strategies
  • Wealth Transfer Planning
  • Wealth Protection Solutions

Click here to learn more about our financial planning offerings.

Future Proofing Your CPA Practice

Professionally Managed 401(k) 

It's time to work with your financial advisor and consider your 401(k) as part of your full financial life for comprehensive management. Now, your Merit advisor has the ability to oversee your entire financial picture and proactively manage your 401(k) as part of your entire portfolio, so you can skip deciphering lengthy plan information and fund options on your own.

  • Proactive Management
  • Tax Efficiency
  • Comprehensive Strategy
  • Top-Tier Security

Click here to learn more about our 401(k) management strategies.

Let's Start the Conversation

A Merit Financial Advisor can help you review your current situation, explore your options and create a plan that fits your personal circumstances.