Creating a Plan toward Retirement Stability

At the forefront of an expanding industry, Allegis Wealth Advisors provides wealth and risk professionals with resources for providing people with means of building secure financial futures. One aspect of this involves Allegis Wealth Advisors setting in place the financial planning program Wealth Building Cornerstones, which provides an economics-based foundation to efficiently growing long-term assets. 

Saving for early retirement is a key goal of many people who use Allegis Investment Advisors’ approach, and it begins by setting down a formal plan on how to achieve financial security. Writing down goals helps solidify a sense of mission and provides definite direction through life’s ups and downs. 

The plan should encompass cash flow and savings goals and can incorporate elements such as business, paper assets, and real property holdings. The plan also should be formulated to encompass three distinct financial stages, including the career years of aggressive accumulation, semi-retirement years of asset growth, and the “spending down” of such assets during final retirement years. 

The results of this approach are well demonstrated. A Harvard Business School study extending three decades found that the 3 percent of participants with detailed written goals achieved results that exceeded those of the 83 percent with no well-defined goals by a factor of 10.

Creating New Investment Opportunities with a Rollover IRA

Based in Utah, Allegis Wealth Advisors provides independent investment advisors with a range of tools and financial services to help them achieve their clients' financial goals. The Allegis Wealth Advisors team focuses on supplying professional advice and financial products involving investment management, insurance planning, estate planning, and retirement. One of the retirement investment options the firm focuses on is rollover IRAs.

A rollover IRA is an account funded by the transfer of money from a retirement plan with an former employer. Typically, employees can transfer from a 401(k) with a past employer to a rollover IRA without any tax considerations. Once proceeds from a 401(k) are received, individuals have 60 days to complete the transaction. Money in a rollover IRA is subject to the same restrictions as other IRAs. For example, withdrawals will incur taxation and a penalty. 

This option severs ties with past employers while giving individuals greater say over exactly where their retirement money is invested. A rollover IRA literally opens the door to tens of thousands of investments. The other options for a 401(k) with a previous employer include cashing out, which incurs very large penalties, and moving the money into a new employer’s 401(k) plan, which severely limits the investment options.