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Retirement Planning

Whether your retirement is approaching, or several years away, Delaware Valley Wealth Management Group can help you plan for the retirement of your dreams.

 

We are interested in your retirement goals, and we can assist you in understanding the accumulation and distribution phases involved with your retirement. At Delaware Valley we will help your decision making less complicated.

 

Business Owners, CLICK HERE to see how Delaware Valley can put you into a retirement plan that is right for you and your employees.

 

Retirement Plans

 

Traditional IRA

  • Individuals with taxable income and under age 70.5 can contribute

  • Contribution may be fully or partially tax deductible

  • Earnings grow tax free

  • Required minimum distributions begin at age 70.5

  • Distributions before age 59.5 may be subject to a 10% tax penalty

ROTH IRA

  • Individuals with taxable income within certain limits ($110,000 for single tax filers and $160,000 for married filing jointly)

  • Contributions are not deductible

  • Earnings grow tax deferred and are tax free if certain conditions are met

  • There is no age limit on contributions

  • No mandatory distributions required

  • Contributions can be withdrawn with no tax penalty at any time

Rollover IRA (from 401K)

  • Increases your investment options

  • Enables you to take control of your overall plan

  • Allows you to move your money out of your former employers retirement plan

  • No tax consequences or penalties for rolling into a self-directed IRA

  • Keep your savings invested tax-deferred

  • May provide better estate planning benefits then your current plan

Contribution Year Contribution Limit Catch Up Amount
2013 $5500.00 50 and Older $1000.00
2014 $5500.00 50 and Older $1000.00
2015 $5500.00 50 and Older $1000.00

 

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