Dependable Retirement Planning Advisors

New Bedford Retirement Planning

New Bedford retirement planning can not only help you when it's time to retire but can also help you in planning for closer down the road. Knowing how much to contribute and where allows you to know how much you can afford to spend and save on a daily basis. New Bedford retirement planning is all about finding the balance between saving for when you are not working but also saving for events that will take place before this day comes. Having children, getting married, buying a house and taking vacations can all be used as part of the grand scheme when planning for your future and looking into New Bedford retirement planning.

Employer Sponsored Pension Funds MA

The first thing New Bedford residents need to do when it comes to New Bedford retirement planning is sit down and look over the options. There are individual retirement accounts, called IRA's that are quite popular. You can contribute $5,000 per tax year ($6,000 if you are over 50) and use this money for your retirement. However, this is not your only option and most residents in New Bedford will look into an IRA as well as a Massachusetts employer sponsored plan.

One of the most popular employer sponsored plans for New Bedford residents are defined benefit plans where the employee receives a certain amount based on the work history and salary. You can move your employer sponsored plans when you move careers or change positions which means you don't have to be with the same company forever to benefit from these special pension funds. Employer sponsored plans include a number of options.

A New Bedford pension plan is one popular option and will remain with you even if you do quit the company while annuities are another good investment when looking into New Bedford retirement planning. With annuities the Bedford retiree will receive fixed monthly payments at time of retirement and can be used for both you and your spouse. You can choose to take annuities in a lump sum in some instances you have can choose to have them paid for life or anytime in between this.

Another good option is a defined contribution plan which allows the employer and employee to make contributions to the fund up to a certain amount. There are profit sharing options, stock bonus plans, money purchase pension plans and combination plans where you can combine the three options above into a unique retirement plan. You can choose a number of variations on defined contributions plans when looking into New Bedford retirement planning including employee stock ownership plans, SIMPLE, SEP and 401 (k) plans as well as 403 (b) plans, target benefit plans and cash balance alternatives.

Retiring the Right Way

Knowing the right ways to invest your money when you are planning to retire in Massachusetts can be tricky and will depend on a number of things. How much you earn, what your lifestyle and daily living expenses are like, how long you have been working for and your individual situation will all impact your New Bedford retirement planning goals. For example, you can expect to have different contributions if you are married, single or divorced and if you have no children or one child. You can expect to have a much different planning package than your MA neighbor even if you are on similar incomes and a similar mortgage plan.

Planning for Retirement MA

This is one of the best things about New Bedford retirement planning - there are so many different options and combinations of plans that you can find one that truly matches your unique needs. However, finding the perfect fit can be tricky as there are so many choices and things to consider and compare. How do you know if a 401 (k) or an IRA is best? Should you go with a SIMPLE plan or invest in employee stock ownership?

Take advantage of our free services offered where you can compare your options and speak to a professional across Massachusetts that can help you sort out your goals and determine the best options for your retirement. It is only natural that New Bedford residents will require some assistance when you are planning for such a big event. Not having an income can be a scary thought but knowing that you have plenty invested in the right areas can help you leave your job and live your life the way you want to. New Bedford retirement planning is all about finding the right places to put your money and ensuring that you are able to access the funds when you need to without incurring unwanted fees, taxes or losses. Take the time to speak to your partner about your options and talk to a professional in New Bedford about what can be done for you.

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Retirement Planners In New Bedford

John Finn
John Finn
294 Valley Rd
Middletown, RI 02842

Jonathan Pierce
Jonathan Pierce
15 Caswell Lane
Plymouth, MA 02360

Mark Lavallee
Mark Lavallee
931 Jefferson Blvd
Suite 2005
Warwick, RI 02886

Christian Grundel
Christian Grundel
1000 Bald Hill Road
Suite 5
Warwick, RI 02886

Christian Grundel
Christian Grundel
1000 Bald Hill Rd
Suite 5
Warwick, RI 02886

Annette M Crowley CRPC®, LUTCF®
Annette M Crowley CRPC®, LUTCF®
57 West Bat Rd
Osterville, MA 02655

Bill Hayes, CFP
Bill Hayes, CFP
374 Court Street
Plymouth, MA 02043

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