Retirement is Near & You Feel Confident
Congratulations on nearing retirement. When you do, you might consider employment in another field or simply will follow new dreams. Even though you’re confident you’ve taken the right steps & prepared for retirement, you might be concerned with how your income could last or what options might be available to you before you do retire.
Here are tips, as well as helpful links to our Learning Center materials, to help you stay on track with added confidence:
Stay where you are – You can keep your plan with us. Often times, people think they may need to move money out of their MSRP account once they leave their employer. In fact, you can keep your assets right where they are. When you stay with your current plan, you might avoid costs like front-load fees and commissions that sometimes come with new accounts.
- Learn about the Benefits of Staying with the Plan, including how to continue taking advantage of tax-deferred growth and potentially lower fees.
Re-evaluate your investments – Talk with a Team MSRP Retirement Specialist to request an account review. They’ll take you through all the steps you should consider when preparing for retirement. You can gain understanding to either keep or update your current plan. And because investing involves market risk, including possible loss of principal, they’ll help you understand how that risk may affect your retirement years and what strategies you may want to consider for it. Information provided by Retirement Specialists is for educational purposes only and not intended as investment or tax advice.
- Review the Retirement Checklist to make sure you’re prepared to take payments.
- Read more about the Benefits of Consolidation to make money management a little easier.
Prepare for payouts – You might be surprised at how many choices you have when it comes to receiving income in retirement. Whether it’s income you receive in a lump sum, partial lump sum, systematic withdrawal, annuity or rollover, we have information to help you better understand each of these options. Withdrawals are taxable income to you in the year the payments are made.
- Get tips on How to Start Receiving Income. Consider all the options to help make your investments last and possibly pay less tax overall.
- Learn more about withdrawal options in Transitioning From Saving to Spending.
- Get more info on How to Take RMDs, or Required Minimum Distributions, when you reach age 70 ½.
Additional articles or video you can use to learn more:
- The Cost of inflation - There are things that are out of your control. Learn more about how inflation may affect your savings.
- Social Security Reform – Recent talk of reform may impact your investments…learn more.
- Living Longer in Retirement – Many public sector employees retire early and may need to live 30 years or more on their savings.
- Market Risk – The market is ever-changing. Learn how to weather the storm.
Get the help you need
You are heading for retirement, and your life may have changes ahead. We’re here to help you through this transition – if you have questions or would like to just talk about retirement, call one of our Team MSRP Retirement Specialists today.