financial breakthrough Retirement Strategies

Financial Breakthrough Retirement Strategies is your trusted partner in planning for a secure and fulfilling retirement. With our comprehensive approach and personalized guidance, we help you navigate the complexities of retirement planning with confidence and clarity. Our expert team understands that each individual’s retirement goals and financial situation are unique. That’s why we take the time to listen to your needs, understand your aspirations, and develop tailored strategies that align with your vision for retirement. Whether you’re just starting to save for retirement or nearing retirement age, we offer a range of solutions to help you build and protect your wealth, maximize retirement income, and achieve your desired lifestyle in retirement.

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Investment strategies

Limitations and Restrictions on 401(k)s & 403(k)s

On the downside, caps are placed on 401(k) contributions. IRS regulations limit the allowed percentage of salary contributions. In 2020 and 2021, the maximum contribution to a 401(k) is $19,500. For someone who makes more than $150,000 per year, contributing the maximum will give them a savings rate of only 12.67%. And the more someone makes above $150,000, the smaller their contribution percentage will be.

The problem is that a savings rate of 12% is probably too low to reach a comfortable retirement. “A savings rate below 10% is definitely too low,” says Andrew Marshall of Andrew Marshall Financial, LLC, in Carlsbad, CA. If you’re 50 or over, you can add a $6,500 catch-up contribution to that amount, for a total of $26,000 in 2020 and 2021, but your money won’t have as long to grow.

One of the biggest financial challenges you’ll face is saving for retirement. There are various schools of thought on how much money you’ll need to live comfortably during retirement. No matter what that figure is, it’s essential to be proactive about saving if you want to reach your retirement goals.

While many people save for retirement in employer-sponsored plans like 401(k)s and 403(b)s, they’re not always an option. But here’s good news: There are lots of other ways to build up that nest egg. Here’s how you can reach your retirement savings goals, even if you don’t have a 401(k).

Who is a typical Sensible Money client?

Prefer to delegate to an expert so you can go out and enjoy retirement

Want to know your spouse will be in not just good, but great hands

Prefer to delegate to an expert so you can go out and enjoy retirement

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OUR APPROACH

Every family and business owner’s situation is unique. The more we know about you, the more precise recommendations we can make and the more we can help you. As a result, we take the time to discuss your hopes, dreams and objectives — the things that really matter to you. As needed, we will work with you to identify and prioritize your objectives, and then help establish benchmark goals. We will monitor progress and provide ongoing service as your needs and situation change over time. 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.