If you have no retirement account.
We recommend for most people with earned income, regardless of age, income or net worth, to contribute to some kind of retirement account. If you do not have a retirement account, we can open a retirement account through our account custodian. We manage the account on your behalf, including selecting and purchasing investments to match your values and goals.
If you have a retirement account at work.
Because investment product selections are typically limited in employer-sponsored plans such as 401(k)s and 403)b)s, we recommend contributing to employer accounts only if the employer offers a match, or if the limits of an individual IRA are lower than the amount you want to invest. If you have an employer that offers contribution matches, we recommend contributing up to the amount that will be matched in your work account, and then investing the rest of your retirement contributions in an individual IRA.
If you have a retirement account from a previous employer - Rollover.
If you have an employee sponsored retirement account from an employer you no longer work for, you can transfer those assets into a new retirement account. Directly transferring assets from one retirement account to another is called a rollover. This process lets you avoid taxes and penalties that would otherwise be charged for early withdrawal. We can open a new account for you and rollover your old work accounts into the new account. We will then manage those assets for you and you could make additional contributions if you would like.
If you have a pension at work.
If you have a pension at work, we recommend contributing to an individual retirement account in addition to paycheck deductions made to a pension plan. For example, if 10% of your income is deducted to fund a pension, you may want to contribute an additional 5% or more of your income to an individual retirement account.
If you have debt.
Having debt and making investments are both financial activities that involve risk. Having exposure to both debt and investment risks at the same time can be an excessive amount of financial risk for many individuals and households. However, if it will take you more than a year or two to reduce debt to your desired level, it may be advisable to begin investing at least something now to get in the habit and to allow annual compounding to start working for you.
If you have a self-managed retirement account.
Self-managed, or self-directed, accounts are investment accounts opened and managed by an individual on their own. For those want to manage their own retirement portfolio in a self-directed account, we recommend consulting with a fee-only, registered investment advisor who will help you construct a broadly diversified portfolio.