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Introduction  

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When you are young and just starting a professional life, retirement might be the last thing on your mind. However, if you ask any retired person, or someone entering retirement, what advice they would give you about planning for that day, chances are they’ll say: Start as soon as you can!  

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Why Retirement Savings Accounts are Important

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The best way to assure you have a comfortable retirement, is to select a retirement savings account/s that matches your retirement objectives – and start saving as much and as frequently as you can! Without such accounts to help you, or with the wrong type of savings accounts, you’ll likely find it extremely hard to meet your retirement savings goals. 

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What We Can Do For You

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As you start planning to save for retirement, you’ll likely have many questions that you need answered:
 

  • When should I start saving?

  • How much should I save?

  • How much will I need for a “comfortable” retirement?

  • What’s the best vehicle for me to save for my golden years?

  • Which “pot” of retirement savings should I tap into first?
     

We will help address all of your questions. We’ll also help you make informed decisions about which types of savings vehicles are right to meet your particular retirement goals. Not all retirement savings accounts are designed the same. For instance, some have yearly maximum contribution limits, and others have planned distribution criteria associated with them. Violation of those rules can lead to IRS-imposed premature withdrawal penalties. 

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Plans

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Our Retirement Savings Account specialists will help you navigate the plethora of saving options available to you, some of which include:
 

  • Individual Retirement Account (IRA): This is the most commonly used savings account available to most Americans saving for their retirement. Where a company-sponsored retirement plan isn’t available, IRAs can be used as a way for tax-deferred savings. Over the period while you work, tax-deductible “contributions”, up to an eligible amount, can be made into the account. You only pay taxes when you withdraw funds in retirement  

    Some IRA’s have contribution limitations and tax consequences for early withdrawals. Distributions from traditional IRA’s and employer sponsored retirement plans are taxed as ordinary income and, if take prior to reaching age 59 ½, may be subject to an additional 10% IRS tax penalty. Converting from a For complete details consult your tax advisor or attorney.

  • Roth IRA Account: Roth IRAs differ somewhat from traditional IRAs – which allows for tax-deferred growth of retirement savings - in that the money deposited into these accounts is from “after-tax” dollars. Subsequently, when you make withdrawals from your Roth account, you are not taxed. Additionally, your savings within the account also grow tax-free

    To qualify for the 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 59 ½ 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.

  • Simplified Employee Pension (SEP) IRA: Some employees may have access to employer-sponsored SEP-IRA accounts. These are similar to traditional IRAs, and may sometimes use Annuities as a retirement savings vehicle

  • Savings Incentive Match Plan for Employees (SIMPLE) IRA: This is yet another retirement saving plan available to working Americans saving for their retirement. SIMPLE-IRA plans mandate an employer-matched contribution, and are ideal for smaller business (less than 100 employees) 

  • Traditional 401(k) or Roth 401(k) plans: Like individual and Roth IRAs, employers can offer staff traditional 401(k) plans or Roth 401(k) plans to their employees. In some cases, for instance where an employer matches 100% of your contribution to these retirement savings accounts, it might make sense to join the plan. However, the funds are invested at the discretion of the fund manager, and you (the employee) might have no say in those decisions. We’ll help you decide whether you should participate or opt out of these plans 

  • Rollovers: We’ll not only help you choose the right retirement savings accounts for you, but we’ll ensure they are the most cost-effective and tax-advantaged for your particular situation.  If you switch jobs, we’ll also advise you on whether it makes sense to Rollover, Stay, Move or Cash out from an employer-sponsored retirement savings plan

noah@dreyfusswm.com

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Jackson, Wyoming Office:

680 S Cache St Suite 100-12679,

Jackson, WY 83001

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This website and its content are for informational and educational purposes only.  It is not intended to meet the objectives or suitability requirements of any specific individual or account, to provide tax, legal or accounting advice, and to be considered a solicitation for the purchase or sale of any security.  You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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WARRANTIES & DISCLAIMERS
 

There are no warranties implied. 

Dreyfuss Capital Management is a registered investment adviser located in Jackson, Wyoming but operates a nationwide practice. Dreyfuss Capital Management may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Dreyfuss Capital Management’s website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links.

Accordingly, the publication of Dreyfuss Capital Management’s website on the Internet should not be construed by any consumer and/or prospective client as Dreyfuss Capital Management’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Dreyfuss Capital Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Dreyfuss Capital Management, please contact the state securities regulators for those states in which Dreyfuss Capital Management maintains a registration filing. A copy of Dreyfuss Capital Management’s current written disclosure statement discussing Dreyfuss Capital Management’s business operations, services, and fees is available from Dreyfuss Capital Management upon written request. Dreyfuss Capital Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Dreyfuss Capital Management’s web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. 


This website and information are provided for guidance and information purposes only. Investments involve risk and unless otherwise stated, are not guaranteed. This website and information are not intended to provide investment, tax, or legal advice.

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© 2020 by Dreyfuss Capital Management

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