One of the many benefits of working with Matt Dixon is having a Registered Financial Consultant to help plan your retirement. People in Greenville, SC, have the peace of mind of knowing their retirement plan is designed to ensure they have the funds they need to retire and live without financial worries.
In working with Matt Dixon, individuals and couples will also develop additional strategies to protect their assets and to ensure they have the specific types of insurance they need to help offset costs as they age. This type of comprehensive approach to retirement planning helps people to avoid the two mistakes that can devastate even the best retirement savings plan.
Using Retirement Funds Now
In and around Greenville, SC, people tend to move their careers and jobs. When leaving one employer and moving to another, individuals have the option to roll over their retirement plans to an IRA or into the plan of the new employer.
They also have the option to take the funds in a lump sum payout. While this may seem attractive to pay off student loans, a mortgage, or other types of debt, it is not a good long-term decision. With penalties and taxes, you will lose about 30% of the value, plus this is money that is no longer earning interest.
Not Maximizing Tax-Deferred Retirement Savings
One of Matt Dixon’s areas of expertise is in helping his clients lower their taxes and build their savings. One of the best ways to defer taxes is to use traditional IRAs or 401(k)s that reduce your current tax burden while adding to tax-deferred savings growth.
