Your Partner in Every Chapter
At Vidarrow, we understand that your financial needs and goals evolve throughout life. Whether you're a young professional, an inheritor navigating a windfall, or nearing retirement, we have the experience and expertise to guide you on your financial journey.
Pre-Retirees: Planning for Your Golden Years
As you approach retirement, your focus shifts from wealth accumulation to ensuring a secure and comfortable future. We can help you with:
- Retirement income planning with RMD optimization: We'll assess your retirement needs, analyze your retirement savings (including pensions, Social Security, and investment accounts), and develop a sustainable income plan for your golden years. This plan will also incorporate strategies to optimize your Required Minimum Distributions (RMDs) to minimize tax impact and maximize your retirement income potential
Retirees: Protecting and Enjoying Your Retirement
Retirement is a time to relax and enjoy the fruits of your labor. We can help you with:
- Retirement income management with RMD optimization: We'll develop a plan for managing your retirement income streams, considering factors like inflation, potential healthcare costs, and Required Minimum Distributions (RMDs). This integrated approach ensures your income strategy accounts for both your ongoing needs and the tax implications of withdrawing from your retirement accounts.
Maximizing Your Retirement Savings with Roth Conversions and Backdoor Roth IRAs:
Tax-advantaged retirement accounts like IRAs offer significant benefits for retirement savings. However, traditional IRAs come with mandatory withdrawals at age 73, which can increase your taxable income.
- Roth IRA Conversions: If you're a pre-retiree with a significant traditional IRA balance, a Roth IRA conversion can be a powerful strategy. Converted funds grow tax-free and can be withdrawn tax-free in retirement, potentially reducing your overall tax burden.
- Qualified Charitable Distributions: A QCD is a strategy in which funds are transferred directly from an IRA to a qualified charitable organization. Unlike RMDs, QCDs are not taxable, and each individual (married or single) can donate a sizeable amount from their IRA. A QCD can make a lot of sense if charitable giving is one of your financial goals. You get the satisfaction of helping a worthy cause, while also covering a portion, or all, of your RMD!