Deciding to retire can be one of the most challenging and complicated decisions you ever make. Please know that your friends at Centennial Financial Services are here to help. We specialize in providing simple and easy to understand strategies to your most complex financial planning decisions. Let us help you determine how to make the most out of retirement.
We Offer Access To:
Individual Retirement Account(IRA) - A tax-deferred retirement account for an individual that permits individuals to set aside money each year, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later (or earlier, with a 10% penalty). The exact amount depends on the year and your age.
ROTH Individual Retirement Account - Allows taxpayers, subject to certain income limits, to save for retirement while allowing the savings to grow tax-free. Taxes are paid on contributions, but withdrawals, subject to certain rules, are not taxed at all.
401(k) - A defined contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes, and in some cases employers will match their contribution dollar-for-dollar. Taking a distribution of the funds before a certain specified age will trigger a penalty tax.
Self Employed Pension Plan-(SEP) - A retirement program for self-employed people or owners of companies with less than 25 employees, allowing them to defer taxes on investments intended for retirement. This plan allows employers to contribute on behalf of eligible employees, and all contributions are tax-deductible as a business expense and can be integrated with Social Security contributions. In addition, there is no minimum contribution requirement.
SIMPLE IRA - (Savings Incentive Match Plan For Employees) - Retirement account established for employee deferrals and employer matching contributions. These accounts do not require the same IRS reporting and testing when compared to other types of employer-sponsored retirement accounts.
To speak with a financial consultant for more information and to request a free Financial Review, please call: