Are you looking for 77042 Retirement Investment advice? Give Potter Financial a call today. We can help you achieve your financial goals through a combination of financial assessment, retirement planning, and investment account management. With careful planning and attention to detail, we believe that we can create comprehensive financial plans for clients wishing to retire in a comfortable way. Retirement investing is a very delicate matter, and it should be treated as such. With Potter Financial, you’ll have friendly, knowledgable, and responsive support to help you on your way towards your financial objectives. Above all, we aim to use our experience and knowledge to help clients take control of their finances. With quality financial advice, you’ll help prevent the chances of taking unnecessary risks that could affect you negatively. Contact us at your earliest convenience to learn more about how our services can help you.
When it comes to retirement investments, you’ve got options on top of options. The first step is choosing the most tax-advantaged retirement investment account to store your savings. Then, you have to make the decision of which types of financial securities to invest in. Fortunately, with Potter Financial, the process can be as extensive or as hands-off as you want it to be. We’re just as happy to provide bits of investment advice as we are to take over the management of your account totally. Either way, working hand-in-hand with our financial planners is a great way of working towards the optimization of your savings and make the most of this unpredictable method of saving money.
Why Should You Invest?
You’ll always hear people down-talking the stock market and the people that work in the industry. However, the fact remains that investing can increase your chances of having a comfortable amount of savings set aside for retirement. Besides, retirement investing doesn’t typically include strategies like day trading or options trading. A sound retirement investment strategy involves long-term holdings that can deliver returns consistent or better with the market. And with professional account management, the team at Potter Financial will work diligently towards evaluating any weak links and cut stocks that drag down your portfolio.
Regardless of the risks involved, investing has shown time and time again that, over the long-term, the market typically fares well. As a result, people can earn much more than they invested. Potter Financial provides many options for comprehensive long-term investing planning.
Types of Retirement Accounts
Technically, any account that you put money into for the purpose of saving for retirement could be considered a retirement account. But formally, retirement accounts are either IRAs or 401Ks. A few things make these accounts different from a standard savings account:
- You typically can’t invest in securities with funds in a savings account. Your primary method of generating wealth in a savings account is through interest, which is usually quite minimal.
- IRAs and 401Ks place limitations on early withdrawals. With very few exceptions, withdrawing from a retirement account incurs large tax penalties (“Early” means before you turn 59 1/2).
As you can see, one of the advantages of retirement accounts is that you can invest the capital, which allows you to earn more money with your money. Additionally, you’re far less likely to withdraw funds from your retirement accounts (and you shouldn’t!)
IRA or 401K?
Once you decide to open or utilize a retirement account, you’ll likely be faced with the question: IRA or 401K? Well, this question is pretty easy to answer. You can’t open your own IRA; it must be opened by your employer. If you have the opportunity to add funds to a 401K, that should be your first option, especially if your employer matches contributions. This gives you the opportunity to double your savings before you even start investing! If your employer doesn’t offer a retirement account or you want to save even more, open an IRA.
Roth or Traditional IRA?
Typically, you have two different IRAs to choose from. Both types are pretty similar but have different tax advantages. Your retirement financial advisor at Potter Financial can help you choose, based on when you want to reap your tax benefits, now or later. Additionally, the Roth makes withdrawal exceptions for qualified education expenses and your first home purchase. If you’re younger, haven’t bought your first home yet, or plan to return to school, you may prefer the Roth.
Other Retirement Accounts
It can be hard to find a financial services firm that can help you manage your investments if you have a less-popular retirement account, for example:
- Simple IRA
- SEP IRA
- Backdoor IRA
- Rollover 401K
Fortunately, Potter Financial provides services for all of the types of retirement accounts listed above.
Types of Retirement Investments
Once you’ve opened your retirement account, you have to decide which types of securities you want to invest in. This decision presents even more options than the types of accounts! Popular options include mutual funds, ETFs, and individual stocks.
Mutual funds are, by far, Potter Financial’s most popular offering, for a good reason. A mutual fund is a ready-made portfolio that is actively managed by an experienced fund manager who pays far more attention to the ways of the stock market that you’ll ever have to. A good mutual fund tends to perform well over the years. This is in part due to its diversification: mutual funds commonly include a combination of individual stocks, bonds, and other securities. On top of that, the securities themselves typically cover a diverse range of companies. You can buy shares of a mutual fund, which entitles you to equivalent shares of its profits as it grows in value.
Call Our 77042 Retirement Investment Advisor
In addition to mutual funds, Potter Financial manages exchange-traded funds, individual stocks, and more. We can adjust our financial strategy for your portfolio according to your retirement goals, time frame, and risk tolerance. Contact us today by calling (713) 972-1316 or online to learn more about the different investments and portfolios we have available for you to invest in. We’ll work on finding a suitable type of account for your financial objectives. If you need 77042 Retirement Investment services, please consult Potter Financial.
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