Family Investment Center Turns Questions Into Confidence

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While some people can’t imagine a day when they’re not immersed in the job that they love, most people look forward to retirement. Unfortunately, not everyone is sure of the ins and outs of retirement. At Family Investment Center, we can assist you with those unknowns – and turn your questions into confidence.

Dan Danford, CEO of Family Investment Center, has been published several times in national media publications, including Investopedia and CNBC. Danford’s article “7 of the Most Common Retirement Questions Answered,” touches on some important topics that can be challenging for investors as they plan their retirement.

“Having a working knowledge of retirement plans and investments and working with a trusted financial advisor can help take the guesswork out of funding your retirement,” Danford says.

Read on for more insights about common retirement questions.

Are Advisors a Requirement?

While working with a trusted advisor offers big benefits, you’re not required to do so. Danford says that there are many self-help options out there, such as no-load mutual funds, discount brokerage firms and local banks and credit unions. Despite these options, having a one-on-one relationship with an advisor has a good return on investment, which is why he advises seeking competent help at a reasonable price.


“This is retirement money set aside to supplement your golden years,” he says, “so it’s often worth paying a modest fee to enlist professional help.”

All About IRAs

A traditional IRA allows you to make contributions that are often tax-deductible in the year they’re made, but you have to pay taxes when you take distributions. On the other hand, contributions to a Roth IRA are not tax-deductible, but that money grows tax-free over time, and when you take your distributions in retirement, they’re tax-free.

If you’re getting a large pension and profit-sharing plan distributions, you may roll them into an IRA without paying taxes.  Fortunately, there are few limitations on IRA investing, but you might see limitations from a particular advisor or custodian for your account. For example, a bank may offer only certificates of deposit or an insurance agent may offer only annuities.

“For these and other reasons,” Danford says, “choosing the right advisor for your retirement account is very important.”

When Do I Begin Taking Investment Distributions?

All qualified retirement plans will have a required distribution at some point, but some plans will allow you to keep benefits in the plan after retirement employment ceases.

“This might be a good option if the plan expenses are low and the investment options are sufficient to meet your personal retirement financial needs,” says Danford.

The situation can get complex if you’re not keeping track, so if you want to fully evaluate your options, talk to a professional.

Time and Retirement Investing

If you are decades away from your retirement date, you can be quite aggressive in your approach to investing. If you’re close to retiring, you may want to take an approach that is less risky. Regardless, every investment strategy should include diversification, because that helps to protect against market corrections, political turmoil and monetary inflation.

Most advisors recommend a mix of investments through individual securities or mutual funds. Danford says it’s also important to consider that today’s retirement years often last a very long time.

“Investments in your account could be needed for decades after your official retirement date. For this reason, longer-term, diversified strategies can lead to the best retirement results.”

Contact us at Family Investment Center and let’s talk about your goals for retirement. Together, we can turn your questions into confidence – and confidence can lead you to some serious freedom.


Let’s plan for some serious freedom.

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