Lexington Financial Advisor

A Lexington financial advisor can provide you with help for all of your monetary needs in Kentucky. Whether you are purchasing a home in Lexington, KY, or are a college student intent on continuing education, you will undoubtedly find the advice of a Lexington financial advisor in KY very useful.

Financial security is something that everyone strives to gain. A Lexington advisor can assist you in reaching that security by helping to identify your long and short-term financial goals and then preparing a plan to reach them. Whether you are a looking for a long-term financial advisor in Kentucky to help you with all of your needs, or are just looking for some answers for an economic crisis, a Lexington financial advisor is there to help.

Retirement Plans

Any Lexington consultant will probably tell you one of the most important things to do for long term planning is to start a Kentucky retirement fund as soon as possible. Many people who reach retirement age are surprised to find that their funds will not go as far as they thought they would. If you plan ahead, you can rest assured you will be able to purchase that Kentucky dream home, or take that Alaskan cruise you always wanted to take. Using a Lexington financial advisor will assist you to make those dreams a reality.

There are several retirement plan options to help you save available if you currently have an employment income. A 401k program is a plan that an employer provides which allows you to contribute a certain portion of a paycheck to a savings and investment plan. You can start with a small percentage and gradually increase the amount you contribute over time. You will be amazed at how fast these small contributions will add up over just a few years.

The contributions and the earnings for a 401k program are tax deferred meaning that you will not pay taxes on them until it is time for disbursement. At that time, usually upon retirement, you can choose to roll all or a portion of the funds into another retirement program or take the cash immediately. Cashing out the fund can have both early withdrawal and tax penalties associated with it. You will want to discuss the disbursement plan with a Lexington consultant before you make a decision on what to do with you 401k monies.

You may want to choose to open a traditional IRA (individual retirement account) or a Roth IRA plan as well to maximize retirement savings. A traditional IRA plan allows contributions to be tax deferred as in a 401k plan. Roth IRA contributions are made after taxes so the contributions are tax exempt. Anyone who has income from employment can open up an IRA account. Talk to a Lexington financial advisor to decide which one is right for you.

Choosing an Advisor

A Lexington financial advisor is a licensed professional who can provide you with advice on a wide array of economic and monetary needs. Examples of a financial consultant would be a tax attorney, certified public accountant (CPA) or an investment advisor. Each of these consultants would be specialists in their chosen field. Before you decide on which type of Lexington financial advisor you require, you should first decide what your long and short-term goals are. If you are trying to decide whether to purchase a franchise in Kentucky, for instance, you may want to combine the talents of all three to help you with your decision. If you are interested in more information on how to move your 401k monies without having the penalties, you may want to talk to a retirement planner.

It is important to choose an advisor who is licensed in Lexington and keeps up with current tax changes and investment strategies. It is also important that the advisor listens to your goals and helps you formulate a plan that will move you toward those goals. You should take the time to interview several financial advisors before choosing one. You will want to find a Lexington consultant that is not only qualified, but someone you trust completely. After all, they will be helping you to manage two of your most important assets, your money, and your future.

A Lexington financial advisor can help you with everything including small business needs, retirement planning, buying a home, even college education planning. If you take the time to define your goals and then meet with several advisors to choose one for your needs, you will likely use the same planner for years to come. With solid financial planning advice from a Lexington financial advisor, you can realize your goals and still save for that retirement dream home you have always wanted.

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