Lifetime Income | Tax Efficient Investment StrategiesLifetime Income | Tax-Free Income Planning | Manasquan Wall NJ

Harbor Lights Financial Group’s Lifetime Income | Tax-Free Income Planning services offer clients a commitment to the sound advice and strategy necessary. And because we have no obligation to sell any specific financial or insurance product, you can trust that we will only recommend those best-suited investments to our client.

Tax-Free Income Planning or Tax-Efficient Income | How Does One Plan for Additional Lifetime Income?

When planning for retirement, additional income potential and tax efficient income can be a realistic goal. Immediate considerations include how long will money be needed, how much per year, what are the best investment options and also what will taxes have to say about it. One may need a combination of strategies to reach an amount of tax-deferred or reduced taxes on retirement income that meets a particular goal. The earlier one begins saving the longer tax-free growth can compound, but ultimately retirement income goals will require planning!

An IRA or Individual Retirement account, for instance, is an obvious way to save money for retirement in a tax-advantaged way. It allows a person to save for retirement on a tax-deferred basis. With a traditional IRA one can make contributions that are deductable from taxable income, annually. That money, can grow tax-deferred until it is withdraw in retirement. Most retirees find themselves in a lower tax bracket than they were during their working days, so when the money comes out it is taxed at a much lower rate.

An annuity is an insurance contract designed to provide a steady income during retirement. Tax-deferred Annuities, for instance inside a Roth IRA tax shelter, can offer completely tax free retirement income. One can contribute up to $5,000 a year ($6,000 if 50+) into a Roth IRA. That plus any amount converted over from a traditional IRA, can be invested into the annuity.

There are also bond, life insurance and health savings strategies that should be considered with the above options. Ultimately, retirement, Additional Income Potential and Tax Efficient Income strategies are complicated so one could benefit from planning with a experienced professional!

Why Harbor Lights Financial Group For Additional Income Potential or Tax Efficient Income?

Harbor Lights Financial Group is committed to a set of planning standards! These standards include that we will always do the right thing, always ask the right questions, and always be accountable! We intend to help our clients make the most objective choices based on in-depth professional knowledge and support. And Life Insurance Planning options and choices will never solely be management driven.

We are also a team of accomplished advisors and CERTIFIED FINANCIAL PLANNERS™ (see below) ­— professionals who help people like you with customized strategies designed to enhance and/or preserve your assets for retirement. We work to realize your financial goals, empowering you to enjoy the freedom that brings.

Robert Tendler, Managing Partner – CFP® CLU
Jonathan Shippee, Senior Wealth Advisor – MBA CFP®
Douglas Lockwood, Managing Partner – CFP®
David Scureman, Partner – MBA CFP®
Kenneth Roberts, Managing Partner – CFP®

Trust services are available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors. Wells Fargo Advisors and its affiliates do not provide legal or tax advice. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.

Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.

If you have any questions, please get in touch with Us Today!