A traditional Individual Retirement Account (IRA) is a personal tax-deferred retirement plan established for those who receive compensation or earned income from employment, those who are divorced or separated and receive taxable alimony or maintenance payments and have not reached the age of 70 ½. IRAs were created to provide individuals with the opportunity to build their own tax-deferred retirement savings program.
One of the downsides of IRAs is that every year, millions of Americans are forced to take a Required Minimum Distribution (RMD) from their IRAs and qualified plans starting at age 70½. This RMD, drastically decreases the amount that will be left for their beneficiaries after they’re gone.
At Naples Private Wealth, we work closely with our clients to help them make knowledgeable decisions about income & retirement planning regardless of current economic conditions. We are passionate advocates for our clients and believe deeply that they should retain, grow and transfer all that they have worked so hard for. Contact us today and let us craft an individualized retirement income plan that is as unique as you are.