INCOME STRATEGIES

Creative Planning

As the trending continues with employers not offering pensions, employees are left with only their social security benefits as a source of income in retirement. It is now more important than ever to begin establishing and building a private pension that can possibly guarantee an additional stream of income for you and your spouse.  At Texas Private Wealth Advisors (TPWA), we strive to help our clients find a reliable way to secure a certain percentage of their overall income needed in retirement.  Whether you need to secure 100% of your income in retirement or only require replacing 75%, we will work with you to build an effective and efficient way to secure your overall income needs.

 

As retirement approaches, many begin to ponder how and when to withdraw from their retirement or investment accounts and what potential consequences may occur.  Prior to withdrawing from these accounts, our advisors will help develop a strategy that can potentially minimize or even at times eliminate unnecessary income taxes.  Utilizing direct rollovers along with charitable distributions can potentially help alleviate the burden of unwanted taxes and penalties.  RMD’s will become a concern for those who are 70 ½ and own an IRA because for those not taking a required minimum distribution will cause an immediate 50% penalty.

Securities & Investment advice offered through LPL Financial, Member FINRA/SIPC. Texas Private Wealth Advisors is a  separate entity from LPL Financial.  This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice.  Each plan has unique requirement and you should consult your attorney or tax advisor for guidance on your specific situation.  In no way  does advisor assure that, by using the information provided, plan sponsor will be  in compliance with ERISA regulations.   

This site is designed for U.S. Residents only. The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial U.S. registered representatives may only conduct business with residents of the states for which they are properly registered: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NE, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY. Please note that not all of the investments and services are available in every state.  

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