Make sure you successfully navigate the three crucial phases of retirement planning. Your financial adviser can help you:

• Take full advantage of all your IRA options so you can maximize the contributions you and your spouse make.
  
• Decide what’s best for you – leaving your assets in your retirement plan at work or rolling then over to an IRA. (Be sure to get advice so you can avoid any hidden pitfalls.)
  
• Set up distribution options and beneficiary designations properly so you’re not taking too much or too little. Also make sure your IRA can help future generations.

Life’s Three Crucial IRA Phases

Maximizing Your IRA Contributions

You can increase the income you’ll have in retirement by increasing your contributions today.

• Choose the IRA that’s best for you – Traditional or Roth.
  
• Make sure that you’re contributing as much as possible to your IRA. Limits have increased.
  
• If you’re age 50 or older, take advantage of the “catch-up” provisions. They’ve increased.
  
• If you tap your retirement savings or retire early, ask your adviser about the 72(t) rules so you can take early withdrawals without penalties.*
  
• Build a “household” retirement plan by establishing a separate IRA for your non-working spouse.
  
• Make sure you have the right mix of stocks and bonds to help reach your long-term goal. Your adviser can help.

Managing Transition

Transitioning from one job to another or from work to retirement is part of life. How you manage each transition can be critical to your retirement plans.

• When you change jobs, talk to your adviser about the advantages of rolling your retirement plan assets into an IRA.
  
• Avoid having 20% of your rollover withheld by the IRS. Your adviser can help.

Taking Distributions for Retirement

Make sure you and your beneficiaries get the most from all your hard work, planning and investing. Your adviser can help.

• Make sure you’re not taking too much or too little income from your IRA.
  
• Set up your IRA so future generations can benefit, too.
  
• Make sure your beneficiary designations are up-to-date.
  
• Choose an appropriate investment manager, one whose long-term investment approach matches yours.

Securities are offered through Financial Network Investment Corporation, a registered broker/dealer and member of the SIPC. Financial Network Investment Corporation is not an affiliate of Meadows Credit Union. Mutual funds, annuities and other investments available through Financial Network Investment Corporation are not insured by the FDIC, NCUSIF or any federal government agency, are not deposits, or obligations of nor guaranteed by Meadows Credit Union, or any other affiliated entity. Investments are subject to investment risks including loss of principal invested.