Frequently Asked Questions

How much should I save for retirement?

Needs and timelines naturally vary from person to person. Meeting with a financial advisor and going through the discovery process will help determine the appropriate savings amount, how it should be invested, and suitable vehicles to choose from.

Should I move my 401(k) when I retire?

Every client presents a unique set of needs and considerations. Factors may include the level of service you receive, the flexibility of the investment options available within your 401(k), and your confidence navigating your Required Minimum Distributions (RMDs). Often clients do roll their 401k accounts to an IRA at a financial institution. They do this to have a trusted point of contact that is local to plan with and navigate life while also working together to maximize assets for the client and the causes that are important to them.

Can I retire at 55?

When you think about retiring, you should take into consideration all the moving parts, which include your savings, health and life expectancy, standard of living, independence and investments that have accumulated. Working with a financial advisor is a great way to determine what age is ideal for you to retire.

How do taxes impact my retirement income?

Having a clear understanding of your tax obligations is essential. Different account registration types and how you’ve saved and accumulated your wealth will have a high influence on your tax situation. Investors should speak to their tax professionals for specific information regarding their individual tax situations. Information provided by Registered Representatives of MSTC is neither tax nor legal advice.

What is the best way to save for college?

Families have a variety of options available to support college savings, ranging from 529s to UTMA accounts for parents, grandparents or loved ones setting money aside for the child’s education. Each structure presents distinct advantages and limitations. There may be tax benefits, flexibility, and control that one structure might have over another. Saving for college is highly personalized as to what is important to the family. Meeting with a financial advisor will help understand what aligns with the family’s values and objectives.