To a Comfortab le Ret i rement

Ret i rement P lann ing

8 Retirement Practices

Dmitriy Fomichenko

President & FounderSense Financial Services LLCwww.SenseFinancial.com

Choose a retirement plan carefully.1When choosing a retirement plan, make sure that the plan structure and features align with your retirement goals.

IRA Up to $6,500 in 2016

401k Up to $24,000 in 2016

Solo 401k Up to $59,000 in 2016

Contribution Limits

2 Always get a 401k match

Fund your 401k at least to the point where you bag the maximum matching dollars. Every employer uses a different contribution method but a 6% match is quite common.

It’s wise to increase your contributions in proportion with the inflation.

Use bonuses and pay raises towards maximizing your contributions.

3 Increase contributions as you age

Catch-up contributions of up to $1,000 in 2016

Traditional IRA 401k Plan

Don’t miss catch-up contributions4Catch-up contributions of up to $6,000 in 2016

Don’t go with the default savings rate

5When joining a new position, make sure to increase your 401k savings rate from the default 3%. Aim for 10% savings and revise your annual savings rate accordingly.

“Save your money. You’re going to need twice as much moneyin your old age as you think.”

~ Michael Caine

Add diversification to your retirement savings with a Roth 401k.

Make post-tax contributions and enjoy tax-free withdrawals during retirements*.

6 Choose a Roth 401k for after-tax contributions

* Provided you satisfy certain IRS regulations

Gain investment freedom with self-directed retirement plan

• Real estate• Mortgage Notes• Tax liens/tax deeds• Private equity• Private lending

Choose alternative assets with a self-directed retirement

plan.

7

Find out the qualified

distribution age for different

retirement plans.

Know more about the IRS penalties

Make sure to take required

minimum distributions to

avoid IRS penalties

8

I recommend Solo 401k with Sense Financial to everyone I talk to.  The returns I have made in 6 months beat what I made for the past 3 years in my company 401k plan! If you have the opportunity to switch to a Solo plan, take advantage of it NOW!

Renee A. Westerville, OH

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