Navigating the road to successful retirement can be tricky. The experts from Gratz Park Private Wealth can help make the process smooth sailing with four key savings strategies.
Maximizing retirement contributions
Maxing out 401(k) contributions and taking advantage of catch-up contributions are good opportunities to accelerate retirement savings.
If you’re self-employed, you can maximize retirement savings and tax advantages by utilizing solo 401(k) plans, allowing for higher contribution limits and investment flexibility.
Harnessing tax-advantaged accounts
Did you know? Health Savings Accounts (or HSAs) offer triple tax benefits. They allow contributions to grow tax-free + provide tax-free withdrawals for medical expenses.
Leveraging deferred compensation plans
Non-qualified deferred compensation plans enable individuals to defer income, in turn, minimizing current taxable income.
Employee Stock Ownership Plan participation
This option provides ownership opportunities and diversification benefits for those employed by participating companies.
Looking for additional guidance? Connect with an expert at Gratz Park Private Wealth to see what retirement solutions work best for you. Retirement success starts here.