Retirement Planning

What they say is true– it's NEVER too early to start planning for retirement. If you're looking to safeguard your future and put away money for all of the adventures life has in store for you, retirement planning is key. Luckily, we have have prepared this page to explain to you the ins and outs of retirement planning in Connecticut.

What Does Retirement Planning Entail?

Retirement planning involves taking a look at your current financial situation and coming up with an action plan that will help you to obtain your retirement goals. This can include things like budgeting for everyday expenses, saving for larger one-time purchases, and investing in various projects that can be beneficial in the long run. This is a very important aspect of your financial future as it ensures that you can maintain a comfortable and secure lifestyle once you retire, allowing you to enjoy your golden years to the fullest.

Retirement Plans for Businesses

Retirement planning for businesses is a critical aspect of financial management that goes beyond individual retirement planning. It involves establishing and managing retirement benefit programs for employees, such as 401(k) plans or pension schemes. This is important for several reasons. Firstly, it helps attract and retain top talent, as competitive retirement benefits are an attractive perk for potential employees. Secondly, it fosters employee loyalty and job satisfaction, leading to increased productivity and lower turnover rates. Unlike individual retirement planning, business retirement planning also entails legal and regulatory compliance, as employers must adhere to laws governing retirement benefits. Additionally, business retirement planning requires careful financial forecasting and investment strategies to ensure there are sufficient funds to meet future pension or 401(k) obligations, making it a complex but crucial aspect of a company's financial strategy.

What Information Will I Need to Begin Retirement Planning?

When you are ready to begin planning for retirement, we recommend gathering the following information:

Additionally, if you are a business owner looking to provide your employees with a retirement plan, it is important to bring documents such as organizational paperwork and payroll information. 

Get Stared Retirement Planning Today!

At Wayne W. Stanforth, CPA, we understand that retirement planning can be one of the biggest decisions you make in your lifetime. We recognize the gravity of this financial milestone and are committed to providing you with valuable information and resources to help you navigate this journey successfully. While our primary focus is on providing accounting and tax services, we believe that informed clients make better financial decisions. To learn more about the services we do offer, including tax and accounting services, feel free to contact us today!

Handing over your finances can be nerve-wracking, but our team instills trust in clients by offering: