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Mastering Your Future: Comprehensive Retirement Planning with Centennial Financial Group

Retirement Planning

Retirement Planning

Embark on a journey towards financial freedom and fulfillment with Centennial Financial Group's expertise in comprehensive retirement planning. We understand that retirement is not just about numbers; it's about crafting a tailored plan that aligns with your dreams and aspirations.

<span>Retirement Strategies</span>

Retirement Strategies

Picture a future where your retirement is not just a phase but a masterpiece. At Centennial Financial Group, we guide you through the art of retirement planning, emphasizing strategies that go beyond the financial aspects.

Key Considerations of Retirement Planning

Starting Early and Regularly Reviewing

Begin your journey early and harness the power of compounding. The longer you are actively saving and investing, the greater the returns. Regular reviews ensure your plan adapts seamlessly to life's dynamic changes. It's not just about numbers; it's about evolving with your dreams.

Assessing Retirement Income Needs

Delve into the heart of your financial goals. We help you understand your lifestyle aspirations, estimate retirement expenses, and explore income sources like Social Security, pensions, and strategic investments.

Navigating Diversification and Risk Management

Chart a course to financial security through a diversified investment portfolio. We highlight the significance of asset allocation and periodic rebalancing to navigate risks effectively. Your retirement plan is a dynamic roadmap, not a static blueprint.

Tax-Efficient Planning

Discover the benefits of tax-advantaged retirement accounts with us. Our experts guide you through strategies that not only minimize tax liabilities but also safeguard your wealth intelligently.

Long-Term Care Planning

With healthcare costs on the rise and knowing you will need more care as time goes on, it is essential to have enough savings or insurance to cover those impending expenses. Our team assists you in planning for potential long-term care needs, ensuring your retirement journey remains stress-free.

Retirement Planning with a Certified Financial Planner

Retirement Planning with a Certified Financial Planner

Partner with Centennial Financial Group to create a secure retirement future. Explore the CFP® difference and understand the transformative role of professional advice in crafting personalized retirement strategies. As fiduciaries, we only act and advise with your best interest at heart. 

Our services encompass more than just numbers; we offer a suite of financial help including:

  • Investment portfolio analysis and management
  • Retirement income planning
  • Risk management and insurance coverage
  • Estate planning and wealth transfer strategies
  • Long-term care planning

Utilizing Tax-Advantaged Retirement Accounts

We help you to take advantage of any of the many tax-advantaged retirement accounts you may have access to. We will advise you on how to optimize your contributions, and in retirement, we can help you plan for the best withdrawal strategies. Some of the accounts you may have or have access to could include:

401(k):

Employer-sponsored retirement plan where contributions are deducted from your pre-tax income. Earnings grow tax-deferred until withdrawal during retirement.


Traditional Individual Retirement Account (IRA):

Personal retirement account with tax-deductible contributions, subject to annual limits. Earnings accumulate tax-deferred until withdrawal in retirement.


Roth Individual Retirement Account (Roth IRA):

Personal retirement account with after-tax contributions. Qualified withdrawals, including earnings, are tax-free during retirement.


403(b):

Similar to a 401(k) but designed for employees of non-profit organizations, schools, and certain governmental entities. Contributions are made on a pre-tax basis.


457 Plan:

A retirement plan for governmental and certain non-governmental employees. Contributions are made on a pre-tax basis, and earnings grow tax-deferred.


SIMPLE IRA (Savings Incentive Match Plan for Employees):

Geared towards small businesses. Both employers and employees can make tax-deductible contributions.


SEP IRA (Simplified Employee Pension):

Simplified retirement plan for self-employed individuals and small business owners. Contributions are tax-deductible, and earnings grow tax-deferred.


Defined Benefit Plans:

Employer-sponsored plans promise a specific benefit amount upon retirement. Contributions are tax-deductible, and earnings grow tax-deferred.

Frequently Asked Questions (FAQs)

When should I start planning for retirement?

It's never too early to start planning for retirement. The earlier you begin, the more time your investments have to grow. Ideally, start in your 20s or 30s to take advantage of compounding interest and ensure a more substantial retirement fund.


How much should I save for retirement?

The amount varies for each person based on factors like lifestyle, expected retirement age, and current income. A common recommendation is to save at least 15% of your annual income, but consulting with a financial advisor can provide personalized guidance.


What is the role of Social Security in retirement planning?

Social Security provides a safety net, but it may not be enough to cover all expenses. It's crucial to consider additional savings and investments to supplement Social Security income and maintain your desired standard of living.


Is it too late to start retirement planning if I'm in my 40s or 50s?

While it's ideal to start early, it's never too late to begin retirement planning. Adjust your strategy by saving more aggressively and considering diversified investments to make the most of the time you have left before retirement.

Your Call to a Purposeful Retirement

Your Call to a Purposeful Retirement

Embark on your retirement planning journey with Centennial Financial Group. Schedule a consultation today, and let us help you paint a vivid picture of financial security and fulfillment during your retirement years. It’s your retirement–live it the way you want by planning now. Trust us to craft a customized plan that not only secures your future but also brings your unique retirement story to life.

Download "Retire Happy," Our Free Ebook!

Are you looking forward to retirement? Are you really prepared for what lies ahead? Our free ebook can help you find out. Register today to receive your copy of "Retire Happy: A Simple Guide to Your Next Big Adventure."

How is Your Financial Plan Looking?

Get started on your financial plan, or help ensure your current plan is up to date, with our interactive 7 Pillars of a Financial Plan workbook.

Download Your Copy

About Us

We are an independent, fee-based financial planning firm with expertise in client education, retirement planning and exit planning.

About Us

Our Team

Our professional advisors thrive on a foundation of trust, authenticity and transparency that prioritizes your happiness at every life stage.

Meet the Team

Contact Us

Ready to work with transparent financial professionals who prioritize your best interests? Reach out to Centennial Financial Group today.

Contact Us Today

Disclosures:

Investment risk: All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.
Diversification: A diversified portfolio does not assure a profit or protect against loss in a declining market.
401(k): Before deciding whether to retain assets in a 401(k) or roll over to an IRA, an investor should consider various factors including, but not limited to, investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock. Please view the Investor Alerts section of the FINRA website for additional information.
IRA limitation & early withdrawals: Some IRA’s have contribution limitations and tax consequences for early withdrawals. For complete details, consult your tax advisor or attorney.
Retirement Plans: Distributions from traditional IRA’s and employer sponsored retirement plans are taxed as ordinary income and, if taken prior to reaching age 59½, may be subject to an additional 10% IRS tax penalty.
Roth IRA: Converting from a traditional IRA to a Roth IRA is a taxable event. A Roth IRA offers tax free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, or a first time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.

Free Retirement Guide

It's never too soon to start preparing for retirement. But do you know what to look out for? Download our free ebook, "Retire Happy: A Simple Guide to Your Next Big Adventure."



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