The Masters just wrapped up, and what a tournament it was. Up and down to the very end, I’m glad I was able to watch. Like every year, watching the pros gets me itching to dust off my own clubs and get out on the course. Except when I opened the garage this weekend, I realized my golf bag was stuffed in the back behind piles of clutter.
From golf gloves I never wear, to enough towels to outfit a foursome, and more spare golf balls than I could use in a season. I probably had enough to stock my own course. It’s all useful stuff in theory, but when I actually wanted to grab my clubs and go, I couldn’t get to them.
So I did a little spring cleaning. Reorganized what I actually need, got rid of the excess, and made sure the things I use most were front and center. Now when I want to play, everything’s ready to go.
As I was clearing out, I got to thinking about how retirement planning works the same way.
If you’ve spent decades maxing out your 401(k), you’ve done exactly what every financial expert told you to do. But can you have too much in tax-deferred accounts?
For many people approaching retirement, the answer is yes. Having all your retirement savings in one type of account is like having a garage full of golf balls but no easy access to your clubs. It’s useful, but it limits your options when you actually need to make a move.
That’s where tax diversification comes in. It’s about spreading your retirement savings across different account types so you have more flexibility and control over your taxable income in retirement. Instead of being locked into one strategy, you’ve got options.
Spring is a great time to take stock of where your retirement savings actually sits. Are you too concentrated in one area? Could a little rebalancing now save you a lot in taxes later?
Secured Retirement specializes in building tax-efficient retirement strategies that give you more control and flexibility. If you’re concerned about your account mix or want to explore ways to minimize your future tax burden, let’s talk.
Give me a call at 952-460-3290. We’ll make sure your retirement plan is organized for the season of life ahead.
CUP OF JOE
From Joe Lucey, Founder of Secured Retirement
There’s something about sitting down with a steaming cup of coffee that always kicks my day into high gear. And it’s not just because of the caffeine it sends coursing through my veins.
Throughout my career, some of my biggest revelations have come to me in conversation with my mentor over a cup of joe. Good conversation and personal connection can pick you up in a special way. It’s that feeling that I’m hoping to bring to you with my series, your Cup of Joe.