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Safe Harbor Finance and Insurance can help you navigate your retirement finances

Taxes and retirement funds can be overwhelming and confusing, Safe Harbor is here to help.

There comes a time to leave the workforce behind and retire. Safe Harbor Finance and Insurance is here to help you get financially set.

As the tax deadline approaches, money and finances can be top of mind. Greg from Safe Harbor Finance and Insurance mentions that a 401K is great to help you get to retirement, but it is not designed to get you through retirement. This is a common misconception that retirees have.

Greg goes on to explain that there are three phases of retirement. Safe Harbor talks about these three phases quite a bit at their educational workshops. First, there is the accumulation phase where the 401K is designed to build money for retirement. Midway when you start to prepare for retirement, clients start to go a 50% mix of stocks and bonds. Third is the distribution phase, and this is where Safe Harbor comes in.

Greg says that in the distribution phase, Safe Harbor focuses on the tax side of things because when your money is in a 401K it is growing tax deferred. This means that you do not pay taxes on those dollars until you start to distribute them back to yourself. Safe Harbor tries to help their clients distribute their money in a tax-free and efficient way. Greg mentions that this process will vary from client to client.

If you have any questions about retirement or have concerns about your  funds, give Safe Harbor a call at 314-328-1868. You can also schedule a 15-minute complimentary consultation. The Safe Harbor office is located at 7777 Bonhomme Ave on the 18th Floor. Learn more at safeharborfi.com.

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