RETIREMENT IS A MAJOR MILESTONE
Let's get you where you want to go.
Retire Your Way
Your Wise With Money Journey is a lifelong pursuit that includes your retirement years. Planning for this phase of life requires a road map that's centered on your goals and lifestyle.
After a long career of hard work, you deserve the contentment that comes with having enough for retirement. Getting there can be easier with good financial guidance. That's where we can help.
Whether it's building a nest egg or revisiting your legacy and estate strategy, we'll partner with you to craft a plan that helps you feel confident about the years ahead.
An IRA offers convenience, opportunities and benefits that other savings vehicles don't. Explore how one can help empower your retirement.
When you open an IRA, you open yourself up to new financial opportunities. With this long-term savings tool, you decide how to invest your contributions. Options include annuities, mutual funds, stocks and bonds.
Two of the most common types of IRA are traditional and Roth. Contributions to a traditional IRA may be tax-deductible; contributions to a Roth IRA are not. Keep in mind, you'll pay taxes on withdrawals from a traditional IRA, whereas you may not have to with a Roth.1
Your financial goals can help you determine which type of IRA works best for you.
A rollover is the process of moving retirement assets – such as one or more 401(k) plans – into a single new account. Most rollovers occur when people change jobs or retire.
There are several reasons you might want to roll assets into a new IRA, including:
Does your employer offer a retirement plan called a simplified employee pension (SEP) or savings incentive match plan for employees (SIMPLE)? If so, you may have an opportunity to choose an account to be funded through that plan. We can help you find and open a SEP or SIMPLE IRA for your employer-sponsored retirement plan. With a SEP plan, your employer will make contributions to the account. With a SIMPLE plan, contributions may come from you and your employer.
MORE TO EXPLORE
You can't necessarily call unexpected expenses "unexpected." They arise for all of us. If you're not prepared for such pitfalls, they can quickly derail your financial life. Having an emergency fund in place can provide valuable protection.
Your insurance strategy can help provide protection and flexibility for you and your family. In particular, cash value life insurance can provide a range of options. And getting cash out of your life insurance may be easier than you think.
It's easy to put off saving for retirement. But as you age, time seems to accelerate. There's a wealth of tools that can help you kickstart a saving plan. And it's better to start now than never to start at all.
1 Distribution of earnings are tax-free as long as your first Roth IRA contribution or conversion was at least five years prior and one of the following requirements is met: 1) you are at least age 59½; 2) you are disabled; 3) you are purchasing your first home ($10,000 lifetime maximum); or 4) the money is being paid to a beneficiary.
Thrivent and its financial professionals do not provide legal, accounting, or tax advice. Consult your attorney or tax professional.
If a taxpayer is younger than 59½ at the time of distribution, a 10% federal tax penalty will apply to the taxable portion of the distribution unless a penalty-tax exception applies.
Thrivent Financial and its financial professionals and employees have general knowledge of the Social Security tenets; however, they do not have the professional expertise for a complete discussion of the details of your specific situation. For additional information, contact your local Social Security Administration office.