Retirement

Look to OMC Financial Services Near Syracuse, NY for Retirement Planning

For 42 years we have been working with people just like you near Syracuse, NY and across the nation to address people's specific retirement planning concerns such as “what happens when my paycheck stops” or “can my money last throughout retirement?” We create retirement planning strategies and portfolios designed to reach their goals, and avoid costly financial mistakes along the way.

Schedule a Free Consultation

Every person is unique. We want to know what retirement planning means to you, what you are looking forward to and what worries you. Despite what you may hear, retirement planning is never one-size-fits-all. Whether you are working and preparing for your future retirement, at retirement, or already retired, OMC is your partner every step of the way.

Retirement Planning: Preparing for Retirement

It’s no secret that saving is one of the most important components of your retirement plan. How much should you save and which of the many available options should you use? OMC can help you create a savings plan in line with your personal financial situation, review it with you on a regular basis, and recommend adjustments when necessary. We can also guide you through the various retirement savings plans available including:

• 401(k)
• Roth 401(k)
• 403(b)
• Section 457 Deferred Compensation Plans
• Individual 401(k)
• Individual Roth 401(k)
• SIMPLE 401(k)
• Traditional IRA
• Roth IRA
• SIMPLE IRA
• SEP IRA
  
  

Retirement Plan Annual Contribution Limits

Let OMC Near Syracuse, NY Manage Your Retirement Assets

OMC has the experience and expertise to professionally manage your retirement assets (see Investment Management). This may include rolling over and consolidating retirement funds from previous employers and personally held Traditional or Roth IRA accounts (see IRA Rollover). We will take your total financial picture into consideration and develop, implement and maintain a coordinated retirement planning investment strategy so that all of your assets are working in harmony. We can also assist with identifying sources of retirement income, preparing income projections and reviewing ways to draw income from your portfolio.

What About My Retirement Plan At Work?

Your employer's retirement plan is an important asset and perhaps your largest. However, you may be like many others who are becoming increasingly confused and frustrated. Limited investment options, "one-size-fits-all" mutual funds, and a lack of personal advice are common complaints.



We can review your plan and offer you the guidance you need. In some cases, you may be able to take advantage of the benefits an In-Service Withdrawal with OMC can provide. Even when those funds must remain in the plan, OMC may be able to monitor, manage and report on those assets and coordinate them with your other investments so that your entire portfolio is working together.

Schedule a Free Consultation

Retirement Planning: At Retirement

You’ve set the date and it’s quickly approaching. OMC Financial Services can help alleviate much of the stress and uncertainty that comes at this time. We can assess your pension options so you can make an informed decision, review your benefits to see how they will change once you leave work, and discuss the pros and cons of rolling over your retirement plan to an IRA.

Retirement Planning: Throughout Retirement

At this time, you may wish to draw income from your investments. We will work with you to coordinate portfolio income with income from other sources such as a pension or social security. We will help you determine the amount and the frequency of your withdrawals and the potential impact they will have on your portfolio and your other goals. We can discuss tax implications and withholding options, and establish a direct deposit with your bank.

Even if you do not plan to withdraw from your investments, if you have an IRA or other retirement plan you may have to begin taking Required Minimum Distributions (RMD) once you reach age 70 ½. We will calculate your RMD amount each year, coordinate it with your other income sources and needs, and avoid the penalties resulting from withdrawing an incorrect amount.

Just as on-going Investment Management is essential throughout your retirement years, it is also important to keep your Estate Planning current. Tax laws and state regulations are continually changing and may result in the need to amend your plan. Changes in your personal situation, such as the birth of a grandchild, moving to another state, etc. may warrant a plan update or possibly the creation of a trust. This may also be the perfect time to explore gifting options or charitable donation strategies. Whatever your needs, OMC is here for you.

Your Trusted Partner in Retirement Planning Near Syracuse, NY

For 42 years, OMC Financial Services has helped people realize their retirement goals. With fee only service and personal attention, our success is your success. Whether your retirement's a few years away or a few decades away, we can help create and manage your retirement account(s).