Dyer Roth IRA Advisors

Dyer Roth IRA Advisors

Planning for retirement is often accompanied by a number of questions: When can I retire? How much money will I need? What’s the best way to save? There are a number of different retirement plans and methods for saving that may be available to you, such that it can be difficult to choose. A financial advisor can discuss those options with you and help you to better understand the potential implications of each plan. A Roth IRA, for instance, is one plan that you might use to encourage saving for when you are no longer working full time. Prosper Financial’s Dyer financial advisors can meet with you to discuss whether a Roth IRA is appropriate for your financial goals. 

Planning for Retirement

Whether you are new to planning for retirement altogether or just looking to refine your long-term plan, you may find it helpful to speak with a professional. A financial advisor can work with you to discuss how much money you will need to save in order to retire, and will help you develop strategies that aim at saving that money. While the amount you actually need will depend on a number of factors, a common recommendation is to save enough to cover around 80% of what you were making while you were still working. 

When creating a long-term retirement plan, your financial advisor will help you discuss factors like how much money you will need, when you hope to be able to retire, and the role that resources like Social Security might play in your overall strategy. Depending on your situation, your employer may offer retirement plans like a 401(k) that you can pay into over time as you work towards helping your money grow. A Roth IRA, however, is not sponsored by an employer. 

What is a Roth IRA?

A Roth IRA is a type of individual retirement account in which you pay taxes when you invest the money, but not when you withdraw it during retirement. While there are limits on how much you can contribute to a Roth IRA in a year, there are no required minimum distributions once you reach retirement age. One reason that you might choose to invest in a Roth IRA is if you believe the taxes you would pay now are likely going to be lower than those that you would pay later in retirement. If you are feeling uncertain, a financial advisor can discuss the potential risks and benefits of a Roth IRA with you as part of your overall retirement plan. 

Scheduling an Appointment With Prosper Financial

There are many investment options and retirement plans available to you as you prepare for life after you stop working. At Prosper Financial, our Dyer Roth IRA advisors can discuss whether or not you would like to incorporate an individual retirement plan into your overall financial strategy. To learn more about our retirement planning services or to schedule a consultation with one of our advisors, contact us today.