Retirement and College Planning

Personal Retirement Planning

Individuals are faced with a dizzying array of retirement choices. IRA, 401(k) and 403(b) plans, various employer sponsored plans, traditional vs. ROTH, target date funds, target risk funds, do-it-yourself asset allocation guides, variable annuities promising income for life, and a village full of talking heads on TV and radio, too. The media barrages us constantly with advertisements from competing mutual fund and annuity companies.

With all this static, it's no wonder the typical American is confused and often unprepared for retirement. Tasik Financial offers its clients a shelter from this storm. We can help you build and manage your own retirement accounts. We are also able to help you navigate your company's 401(k) and other retirement plans. Tasik Financial brings the same understanding of risk and financial goals that go into any financial plan to your personal retirement plans to help guide our clients to informed financial decisions.

We are also able to help you consolidate your legacy retirement plans that may be residing in multilps plans and former employers into a single, managed retirement account. While there are many good places to keep your money, we don't believe that your former employer's plan is one of them! You have several options including rolling over your 401K to an IRA Rollover, rolling over your 401K to another 401K plan and cashing out your balance. We are happy to discuss all of your options with you to help determine which one if best for your situation.


Business Retirement Planning

A sea of acronyms and jargon surround the business retirement planning world; SEPs, SIMPLEs, IRAs, ROTHs, 401(k), ROTH 401(k), defined benefit, defined contribution, profit sharing, etc. As a business owner you have yet another layer of confusion added to your retirement pie. Our role is simple, to help you implement the right plan for your business and to fully understand its costs and your obligations. 


College Planning

I always get a good laugh when I hear somebody say that their advisor said they just need to put "X" dollars away each month into their 529 and they will be just fine when it comes time to pay for college. College planning, when done properly, is a an integrated strategy with many moving parts that all need to work in a well coordinated manner.

Tuition for a four-year degree at NYU, my alma mater, is projected to be about $550,000, 12 years from now when my daughter will be starting her first year. Assuming a flat 7% return, X=$2,448 per month into a 529 for the next 12 years. My son is 8 years away so his X=$4,290 per month. While staggering, these numbers illustrate is that if we all had an extra $65,000 per year, per child, in current spare discretionary, after tax income we would probably be able to just pay for College from spare cash when our kids are attending but most of us don't so we need to have to well thought out plan.

There are many options we can explore to help you plan for College. Savings through 529s are an important part of the solution but there may be other, more sophisticated strategies that you can implement. And, of course, there is a real need to look at estate planning issues for grandparents who can transfer sizeable amounts of wealth from their estates to fund 529 plans.

Let us help you take the smart approach to saving for college by helping you create a plan, based on realistic goals, that works for you. This is just another way we guide our clients to informed financial decision.