PLAN FOR RETIREMENT
Go confidently toward your future.
Planning for retirement is one of the most important ways you can invest in yourself and your future. Our team of Financial Advisors, available through LPL Financial LLC (“LPL”)*, is here to help you with Individual Retirement Accounts (IRAs), 401(k) plans, Social Security benefits and more.
An LPL Financial Advisor can help you:
Review your overall financial strategy for retirement
Decide whether a traditional IRA or Roth IRA is best for you
Invest 401(k) funds, consolidate 401(k)s or roll a 401(k) into an IRA
Understand your Social Security benefit options
Decide the right time to withdraw Social Security benefits
Which IRA is right for you?
TRADITIONAL IRA
Pay taxes later and invest more now.
A traditional IRA allows you to save pre-tax income that grows tax-deferred. The funds are taxed at the owner’s current income tax rate when they’re withdrawn. Contributions may be tax-deductible. Who can open one: Practically anyone can open and contribute to a traditional IRA. The main requirement from the IRS(opens in a new window) is to have taxable compensation. Benefits:
Instead of being taxed, your income is invested in savings
You may be in a lower tax bracket when you make withdrawals from the account
Withdrawals can be made penalty-free starting at age 59 ½
ROTH IRA
Contribute after-tax funds now to avoid taxes later.
Withdrawals from Roth IRAs in retirement are tax-free. Contributions to Roth IRAs are made with after-tax dollars, and contributions are not tax-deductible. Who can open one: Roth IRAs are available for individuals with incomes below limits set by the IRS(opens in a new window). Contributions can be made at any age; however, contribution limits vary based on age. Benefits:
Qualified withdrawals in retirement will be tax-free
Original contributions may be withdrawn at any time
If the account has been open at least 5 years, qualified tax-free distributions may include first home purchase, education or medical expenses
Elevations members get a free first consultation with an LPL Financial Advisor.
More retirement planning services.
401(K) CONSULTATION
Invest, consolidate or roll over your 401(k).
When you’re changing jobs or looking for a new one, there’s a lot on your plate. Let our experienced LPL Wealth Management Financial Advisors help you decide what to do with your 401(k) funds. Spend? Transfer? Roll into an IRA? Once you’ve made an informed choice, we’re here to make it happen. Our seasoned advisors can also recommend 401(k) investment options.
SOCIAL SECURITY CONSULTATION
Make a plan for Social Security benefits.
Did you know that Social Security benefits don’t need to start as soon as you retire? We can help you plan when to start receiving those valuable benefits to maximize your retirement goals.
IRAS FROM ELEVATIONS CREDIT UNION
You don’t need to go anywhere else to save with an IRA.
With traditional IRAs, Roth IRAs and IRA certificates, Elevations has options to get you all squared away for retirement. All Elevations IRAs feature:
$0 monthly fees
$0 fee to accept transfers
No limit to dollar amount of transfers
$100 minimum opening deposit
* Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA(opens in a new window)/SIPC(opens in a new window)). Insurance products are offered through LPL or its licensed affiliates. Elevations Credit Union name and Elevations Wealth Management Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Elevations Wealth Management Services and may also be employees of Elevations Credit Union These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Elevations Credit Union or Elevations Wealth Management Services. Securities and insurance offered through LPL or its affiliates are:
Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value |
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Elevations Credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html(opens in a new window) for more detailed information.
The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
Check the background of investment professionals associated with this site on FINRA’s BrokerCheck(opens in a new window)’.
For additional information, please visit www.lpl.com/CRS(opens in a new window).
**There are fees associated with 529 savings plans. Investments in 529s involve investment risks. You should consider your financial needs, goals, and risk tolerance prior to investing. More information about 529 plans can be found in the issuer’s official statement or plan disclosure document which should be read carefully prior to investing. Most 529 plans are sponsored and administered by states. State tax benefits vary among the states and some offer residents additional tax benefits if they invest in their own state plan. Consult a qualified tax professional for more information.