Bridging the Retirement Income Gap
When estimating the amount of income needed in retirement, you may start by considering the type of lifestyle you want to live and the age at which you’d like to retire. But as retirement age nears, it may become apparent that prior income estimates may be insufficient to meet your actual needs. In this very common situation, it would be prudent to create a plan to bridge the projected income gap. Here are some strategies that may help.
Try to take advantage of an 457(b), 403(b), 401(k), IRA or other tax-deferred retirement plan if possible since assets in a tax-deferred account will grow more rapidly over time than the same investments in a taxable account.
To learn more about these strategies or for help with your own scenario, contact us. Schedule your no-obligation consultation with TCG Advisors today to ask all your questions.
A 457(b) is a retirement savings plan that allows employees to make contributions on a pretax basis, thus income taxes are deferred until your assets are withdrawn. Most plans allow you to start, stop, increase or decrease contributions at any time. The contribution limits are separate from those of 401(k) and 403(b) plans and more flexible withdrawal options are often available.
Region 10 RAMS/TCG (Retirement Asset Management Services
Customer Service: #1-800-943-9179
TCG District contacts:
Carolina Figueroa(Spanish Speaking)- 512-600-5236 [email protected]
Scheduling a virtual or face to face meeting:
Schedule a TeleWealth™ Meeting with Carolina at www.tcgservices.com/cfigueroa
Retirement steps:
