Financial Services at FMFCU – Life Planning
Financial Services at FMFCU is here to help. Our services include:
- Financial analysis of your unique needs and goals
- Investment advice to select a plan that’s suitable for you
- Retirement planning including IRAs, Annuities, and Pension Plans
- College planning
- Estate planning and wealth transfer
- Protecting assets through life, disability, and long-term care insurance
- Business planning including SEP, 401(k), Solo(k), and more
Whether they want to be an astronaut, a doctor, or a lawyer, parents are always encouraging kids to aspire to be all they can be. Parents can actually help make their child’s dreams come true, but not always easily.
Parents are concerned about the cost of higher education and how to pay for it. Kids grow up fast and tuition costs are growing almost as fast as your kids are, more than tripling in the past 20 years. The good news is, with the advantage of time, there are numerous options to work toward your goal of sending a child to college.
Financial Services at FMFCU can answer all your questions and give an honest assessment of your options. There are many ways to pay for college and a solid college savings plan, including a Coverdell Education Savings Plan, may be the suitable choice for you. Identify your specific goals, risk tolerance level, and time frame, and we can develop the right plan for your child’s future.
Ensuring assets are passed to beneficiaries with maximum privacy and minimum taxes is a loving thing to do. A million dollar estate is not needed to benefit from estate planning.
Our Financial Consultants aim to create a more tax-advantaged plan that passes your assets and properties to your heirs just as intended.
Financial Services at FMFCU and LPL Financial do not provide legal advice or services. Please consult your legal advisor regarding your specific situation.
Is your portfolio on a course that’s destined to lead to a retirement income shortfall? Consider these strategies that can help improve your long-term outlook.
During Your Working Years
Determine an appropriate time frame for applying for Social Security benefits. If you plan to apply before your so-called “full retirement age,” then you can expect to receive lower monthly benefits. Delaying your application could increase your benefits. Contact Social Security at least three months before retirement to apply for benefits.
When You Reach Retirement
Make arrangements for your retirement account distribution strategies. If you participate in a workplace retirement plan, contact your employer’s human resources office to learn what withdrawal options are available to you. Once you have that information handy, you’ll need to decide whether to begin withdrawing money from your taxable accounts first or from tax-deferred accounts first.
Keep in mind that the IRS requires most retirement savers to begin taking withdrawals known as required minimum distributions (“RMDs”) from employer-sponsored retirement accounts and traditional IRAs after reaching age 70½. If you don’t take your RMDs, you could be forced to pay substantial tax penalties. RMD rules recently became less complex, but it’s still important that you understand them and implement an appropriate distribution strategy.
All Retirement Investors
Review your post retirement medical insurance needs. For example, you might want to think about purchasing coverage to supplement Medicare benefits.
Your retirement security is very important. A smart first step to keeping your retirement strategies on track is to contact a Financial Advisor.
401K Rollover Services
Need help with an old 401K? Have you recently changed jobs, retired, or have a retirement plan at another institution?
One of our experienced Financial Consultants would be glad to discuss options available:
- Leave the money in former employer’s plan, if permitted;
- Rollover assets to new employer’s plan, if one is available and rollovers are permitted;
- Rollover to an IRA; or
- Cash out the account value
To schedule a no obligation appointment today, contact a Financial Advisor
or call 484-259-1963.
Contact Us for a Complimentary Consultation
By phone: 484-259-1963
Eric Maslowsky: firstname.lastname@example.org
David Dieal: email@example.com
Thomas Quinn: firstname.lastname@example.org
James Ferrari: email@example.com
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