Retirement Planning Focused on Achieving Your Goals

As a professional athlete, you face a lot of uncertainty, such as a short career span, increased risk of injury on the job and the tax complexities that arise when earning an income in multiple states. You need a professional who understands your challenges and can help you achieve long-term financial success while also enjoying your current lifestyle. At AK Financial, we specialize in serving the unique financial needs of professional athletes. We incorporate a wide range of strategies to help navigate the challenges you face and help ensure your financial success, both today and long into the future. 

Taxes are an unavoidable part of life, yet every dollar in taxes saved is a dollar you can put toward living life on your terms. That’s why we’re always looking for opportunities to help minimize your taxes and optimize your retirement savings.

When completed correctly with the guidance of an experienced professional, an in-service withdrawal from a qualified retirement plan (such as a 401(k)) can have a big impact on your monthly retirement income. By taking a withdrawal from your 401(k) and using the funds to purchase an annuity, you have the potential to:

• Enhance your monthly retirement income
• Establish a lifelong income stream you can’t outlive
• Hedge against inflation
• Protect your principal from market volatility
• Lower your taxes 
• Create a financial legacy for your loved ones

However, there can be significant tax consequences if this strategy is not executed correctly. The professionals at AK Financial can help determine if an in-service withdrawal makes sense for your personal financial situation. If it does, we will help identify an appropriate annuity product and ensure the strategy is executed in a timely and tax-efficient manner.

When properly implemented, life insurance can help preserve your wealth and protect your loved ones should something unexpected happen to you. Another benefit of life insurance is that it can provide a steady stream of income in retirement. This income can be especially important during periods of market volatility when selling out of your investments could result in a loss. At AK Financial, we help identify and implement life insurance options that meet your specific financial needs, protect your loved ones and generate an additional source of retirement income.

At Alexander & Kennedy Financial Group, we believe a stable and lasting retirement depends on having a steady source of retirement income. We take into consideration your entire financial situation as we design a custom retirement plan to help establish a source of income you can’t outlive. Our goal is the same as yours – to maximize the value of your assets and preserve your legacy.

People often talk about insurance as “protection,” but it’s really a form of risk mitigation. It helps to ensure that, no matter what unexpected twists and turns may occur, you have a safety net in place. Whether it’s life, long-term care, disability or an annuity – we work with you to implement insurance strategies that help reduce the risk of outliving your assets in retirement.

Choosing when and how to draw Social Security can be a tough decision. We take into consideration a wide range of factors, including life expectancy, marital status, income requirements and more, in order to help maximize your benefits.

We can help you leave a lasting legacy for the people and causes that matter most to you. Our legacy planning strategies incorporate a wide range of tax-efficient solutions to help ensure your assets are passed along according to your wishes.

An age-old question among those saving for retirement is, “What’s better, a Roth IRA or a traditional IRA?” The answer is, “It depends on your personal financial situation.” 

Contributions to Roth IRAs are made with after-tax funds, grow tax-deferred within the account and can be withdrawn tax-free in retirement. In contrast, contributions to traditional IRAs are made with pre-tax contributions, which lower your tax liabilities in the year contributions are made. Those funds grow tax-deferred in the account and are taxed at ordinary income rates when withdrawn in retirement. 

As with many financial planning considerations, there are pros and cons to each type of IRA. The right choice for you may not be the right choice for your friends or neighbors. 

At AK Financial, we take time to get to know you and your personal financial situation to establish a retirement savings strategy that helps lower your tax liabilities and enhance your returns over time. We help you determine the most appropriate retirement savings, and withdrawal strategies to meet your specific needs.