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Is Starting a Retirement Plan for me?

When people hear the phrase "retirement planning" they often think of those closer to retirement age, or maybe those who have more than enough money to invest.

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Individual Retirement Accounts are becoming a popular way for people to save money for retirement. Two types of IRAs are Traditional and Roth, each type of account has their own specific benefits if properly used within your financial plan. We can help you understand why you may need an IRA, and which one can help you reach your financial goals.

Retirement Planning Is
For Everyone, Right Now.

Retirement planning is something EVERYONE can benefit from. In fact, the earlier you start the planning process and get a plan in place, the sooner your money can start working for your future.

A retirement plan is unique to everyone based on several factors such as:

  • how much money you will need in retirement,
  • how much risk you are willing to take and
  • tax-advantage preferences.

Our Retirement Advisors Will Help Take Your Planning Beyond The Basics

<b>More Than An IRA</b>

More Than An IRA

Some people have employer benefits available to them which assist in the long-term planning process. This would include benefits like 401(k)s, 403(b)s, Simple IRAs, group health care plans and even Long-Term Care coverage. While others have personal retirement accounts like Traditional and Roth IRAs or Mutual Fund Accounts.

<b>More Than Investments</b>

More Than Investments

Healthy retirement planning strategies involve more than just investing. Various components affecting your retirement plan include how much you may spend on health insurance, your current goals (i.e. saving for your children’s education) and retirement goals (i.e. downsizing or moving).

Helping you Envision A Healthy Retirement

Our retirement planning advisors understand the complexities that go into creating a retirement plan and look forward to helping you navigate how to best reach your goals!

<b>Elements of Retirement Planning</b>

Elements of Retirement Planning

Retirement Planning Elements

  • Long-Term Planning
  • Short-Term Planning
  • Estate and Legacy Planning
  • Insurance Planning
  • Tax Advantaged Savings
  • Health Insurance
  • Business Group Benefit Planning
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<b>Types of Retirement Accounts</b>

Types of Retirement Accounts

Retirement Account Types

  • Traditional IRAs
  • Roth IRAs
  • Taxable Savings Accounts (non-qualified)
  • Simple IRAs
  • SEP IRAs
  • 401(k)s
<b>Types of Rollovers/ Transfers/ Conversions</b>

Types of Rollovers/ Transfers/ Conversions

Retirement Account Types

  • Traditional IRAs
  • Roth IRAs
  • Taxable Savings Accounts (non-qualified)
  • Simple IRAs
  • SEP IRAs
  • 401(k)s

We're here to help you navigate the confusing world of Retirement Planning.

From setting up a simple IRA to rolling over a 401(k) into a traditional IRA, we can help. Schedule an appointment with one of our retirement planners today.

Get Started, Schedule a Meeting!

Long-Term Financial Planning

A Long-term planning strategy is a way we can help your hard work today protect and build your future. During your working years you will want to start building a secure foundation for retirement income. It is important to start saving now so you can enjoy your retirement dreams. Long-term plans need to be flexible and allow for changes to be made for unexpected curve balls that get thrown in along the journey.

Pathway Financial’s retirement plan advisors can guide your path by using specialized software that projects how much you need to save now to have the desired income you want in retirement. We also consider inflation, social security income, and your current investments. With the information provided we will be able to see if you are on the right track and adjust it accordingly. 

Short-Term Financial Planning

Short-term planning strategies are for those who are closer to retirement and need to get a plan in place for when they need to start taking income distributions. You will want to look at all your retirement instruments and decide when and where to pull money from based on taxable consequences or advantages.

The Pathway Financial team can help calculate how long your money will last by maximizing social security timing, pension benefit options and the best distribution strategies. Call today to let one of our professionals help you.

Estate and Legacy Planning

Planning for one’s own demise is a difficult, but necessary step in the retirement planning process. Walking through these fine details is never easy and can often be overlooked. When these concerns are not incorporated properly into your plan an untimely illness or death can place a great burden on your family and loved ones. Protect your assets from taxes, minimize the effects of long-term care, and create a lasting legacy by developing a plan for your estate.

We can help you have safeguards in place so there are assets allocated when the time arises for such needs.

Traditional IRA

A Traditional IRA is a type of personal retirement account used to save money with long term tax deferred growth advantages. Anyone can open a Traditional IRA if they meet the minimum $250 funding limit. With this type of account, you may receive tax breaks now, depending on your situation. Contributions will grow tax-deferred but will be taxed when you take money out in retirement. Traditional IRAs can be a smart solution to increase your tax-deferred savings and save on your current income tax bill.

Here at Pathway we can help you; decide if this is a good fit in your overall retirement plan, choose which investments match your risk tolerance and get an account started.

Roth IRA

A Roth IRA is a type of personal retirement account used to save money tax-deferred, with long term growth advantages. Anyone can open a Roth IRA if they meet the minimum $250 funding limit. While you generally will not receive immediate tax breaks, your money will still grow tax deferred, and your qualified withdrawals are tax-free. Roth IRAs can be a smart solution if you expect to be taxed at a higher rate when you begin making withdrawals.

Pathway’s Financial professionals can help you; decide if this is a good fit in your overall retirement plan, choose which investments match your risk tolerance and get an account started.

Taxable Savings Account

A mutual Fund Account (also called a non-qualified individual or joint account) is an account that allows you to save money with the same returns you would get from your favorite investments. This type of account can be opened by anyone and for anyone. UTMA and UGMA accounts are non-qualified accounts that can be opened for the benefit of your children, grandchildren, or other beneficiary. A non-qualified investment does not qualify for any level of tax-deferred or tax-exempt status. Investments of this sort are made with after-tax money. Capital gains and dividends on these investments are taxed on an annual basis.

We would love to talk with you to see if this type of account will meet your needs, call or schedule today.

Simple IRA

A simple IRA is a type of employer sponsored retirement plan where the employer can match a certain percentage of their employee’s earnings. This type of plan is for smaller businesses with 100 or less employees and is a great alternative to larger plans like 401(k)s. Simple IRA’s are only available to those whose employers choose to start a plan. The employer then sets the eligibility guidelines which are contingent on income and how long the employee has been working for them.

The benefit of participating in a Simple IRA plan is that, unlike a 401(k), you can choose which institution and funds you desire to be in. In other words, there is no restrictive list of funds you must choose from. The options are numerous.

If you are a business owner and would like to set up a Simple IRA plan we can help you get one started. We will also show you what other types of retirement sponsored plans are options to you, so you feel confident with your choice.

If you would like your employer to start a plan let us know and we can reach out to them with more information.


A Simplified Employee Pension (SEP IRA) is a retirement plan that can be established by a Self-Employed individual that wants to have a retirement plan for their company. Similar to other retirement plans, SEP IRA contributions are tax deferred and can reduce your current year’s tax burden while saving for retirement. The investment opportunities are like the ones available within Roth and Traditional IRAs. Unlike Traditional and Roth IRAs, SEP IRAs have much higher contribution limits and can have “employer contributions” added as well.

If you are a self-employed business owner talk to one of our professionals to find out if a SEP IRA plan is right for you and your business.

401(k) Plan

A 401(k) plan is an employer based retirement plan. Many businesses offer their employees 401(k) options which is a great advantage to have. Within the plans are a set of investments that you can choose from, which may be difficult to figure out for some people.

Pathway’s team would be happy to help guide you in choosing the best investments for your 401(k). The financial professionals at Pathway Financial can also assist you if you have left your job and had a 401(k) there. 401(k)s can be rolled over into a Traditional IRA which in some cases will be more advantageous to investors rather than keeping it within the current plan.

Insurance Planning

Insurance products are very versatile. There are many uses and reasons to incorporate these products into your plan. Our experts can help navigate the maze of products to determine which ones will help complete your overall financial plan.

We can explain the advantages and disadvantages and present all the options to you. Below is a list of common types of products that we use regularly.

  • Life Insurance
  • Annuities
  • Individual Disability Income
  • Group Long-Term and Short-Term Disability
  • Individual and Group Long-Term Care
  • Health Insurance
  • Business Planning: key-man insurance, buy-Sell Funding Arrangement

Tax Advantaged Savings

When looking at the scope of your entire financial plan, it is best to consider all the ways to save- especially where taxes are concerned. Taxes play a large role in your finances and are a key factor in choosing which, out of the many retirement and saving vessels, are best suited for you. Our team has the knowledge and experience to identify what role taxes play for each product and account type.

If you are a business owner there may be tax savings you are missing out on that we can give you more information about.

Please call for more information, we are happy to assist you!

Health Insurance

Today, more than ever, Health Insurance has become a necessary and strategic piece of retirement planning strategies. With the ever-increasing cost of healthcare plans it can be overwhelming and burdensome to your budget and retirement savings. Pathway has professionals who are certified to help walk you through ALL the options available. can be confusing and difficult, we will walk you through the application process to get you signed up for a plan that best meets your needs.

We can also assist employers in setting up group health insurance coverage for them and their employees.

Call or click below to schedule a meeting or phone call today.

Business Group Benefit Planning

If you are a business owner, you know valuable employees are extremely important to keeping your business operating efficiently. Consider offering benefits to your employees- it may be the difference that makes them stay instead of looking elsewhere for work. There are multiple kinds of group benefits available to offer your employees that are extremely beneficial. Group Health or Life Insurance, Simple IRA Plan, 401(k), Long or Short-Term disability and Long-Term Care are just a few that we can answer questions about and get started for you.

Call or schedule to speak with one of our representatives who specialize in Group Benefits today.

We're here to help you navigate the confusing world of Retirement Planning.

From setting up a simple IRA to rolling over a 401(k) into a traditional IRA, we can help. Schedule an appointment with one of our retirement planners today.

Get Started, Schedule a Meeting!
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