Aurora Financial Advisor

An Aurora financial advisor can help you with many monetary planning needs. Whether you are planning college funding for your children, or looking into retirement planning, you can find an advisor for your needs. From business owners to individuals in Aurora, CO, anyone can benefit from an Aurora financial advisor.

A financial advisor, or consultant, is anyone who gives financial planning advice in the course of their profession. Types of an Aurora, CO consultant would be a certified public accountant, investment representatives, insurance consultants, or attorneys. Monetary planning is a big step towards securing your financial future in Aurora, Colorado, and should not be taken lightly. There are many different options for your needs. From 401K plans to investment plans, you can build economic security by utilizing an Aurora financial advisor today.

You can find an Aurora financial advisor who will work on commission, but there are several other types as well. A fee based financial consultant is one who will charge you fees as well as collect commissions on your earnings while a fee only advisor will charge you fees but not collect commissions. There is also a client centered advisor who charges fees based on the assets they manage. Check into each one to determine your needs and which works best for you. Make sure the Aurora financial advisor you choose is a credited advisor and licensed to practice in Aurora, Colorado.

Understanding a 401k

A 401k plan is a plan designed to allow employees to contribute to a 401k account from their salary. The taxes on a 401k contribution and earnings are deferred until such time disbursement is completed, ideally upon retirement. Some employers will match some or all of an employee's 401k contributions. If you have an employer willing to do this you should at least contribute the amount your employer will match. It's like having free money added to your 401k account! If you leave the company prior to retirement, you can roll over all or a portion of your 401k savings into another 401k plan through your next employer.

401k plans are an excellent way to save money. Because the money is taken out of your salary prior to taxes, you won't notice it as much as if you were trying to put money into a normal savings account. If your employer is contributing money to your 401k plan you will need to be 100% vested in order to receive the full amount of the employer's portion upon disbursement. Vesting means the amount of employer's money you are entitled to. Your vested percentage usually increases with the time you work at the company. Talk to your Aurora financial advisor before requesting a disbursement of your 401k. You may have other options available to you.

What is an IRA?

A Colorado IRA is an individual retirement fund account, usually a savings plan that provides tax advantages to people who are saving money for retirement. Some IRAs are deductible, while others are not. A Roth IRA for instance is not deductible, but the earnings accumulated are tax free, even upon disbursement. There are several different kinds of IRA's to fit your particular needs. Besides a Roth IRA, there are traditional, education, simple, and simplified employee pension IRA's. Talk to your Aurora financial advisor to determine which one is right for you.

Saving Money for College

Saving for college is more important now than ever. Whether you are just thinking of starting a family in Colorado or already have school age children, it is imperative that you start planning immediately. College tuitions rise every year. There are many ways to plan for this eventuality including college savings plans and education IRAs. If you create a family budget now, you can save the money for your child's education without having to take out a student loan in the future. This can save you quite a bit in the interest you would pay back on a student loan. If your child is an excellent student and gains a scholarship, you can roll the money into a retirement account or other savings plan later. Discuss your parenthood plans with your Aurora financial consultant to determine the best college savings plan for your future college needs.

While not everyone thinks they need an Aurora financial advisor, most everyone in Aurora could benefit from the advice you can receive from a financial consultant. Take the time to review where you are today and what your needs for the future may be. Careful planning and complete understanding of your portfolio will be very important as your future needs change. Whether you are buying a home, or would like the advice of an investment advisor, you can rest assured you will be prepared for any eventuality if you use an Aurora financial advisor today.

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