Many people spend 30, 40 years saving & investing for their retirement. Once they hit a specific age or financial goal, their strategy changes from accumulation to systematic spending. We at Kingdom Guard focus on helping you conceptualize this change.
There is a big difference between having a retirement account and a strategy to achieve a comfortable retirement. We want people to retire on time and with enough financial freedom to enjoy those relaxing years.
This is an individual retirement account. You contribute after tax dollars now for tax free money during retirement. Limited to $7,500 per year until age 50 then the limit is $8,600 annually. If you have earned income over different thresholds you can not contribute to this type of account.
This is an individual retirement account. You contribute pre-tax dollars now then during retirement you will pay ordinary income taxes on the full value as the account is withdrawn from. This has contribution limits up to $7,500 per year then at age 50 you can contribute up to $8,600 annually. There is no earned income limit to be able to contribute to this type of account.
Accumulating wealth is different from distributing it. We convert your accumulated assets into a reliable income stream using tax-efficient withdrawal strategies and guaranteed income vehicles, ensuring your money lasts as long as you do.
Withdrawals from a Traditional IRA prior to age 59 ½ will be subject to ordinary income tax and may also incur a 10% penalty tax unless an exception applies.
You may take nontaxable withdrawals from a Roth IRA if you are at least 59 ½ and the account has been held at least 5 years. Otherwise, earnings withdrawn may be subject to ordinary income tax and a 10% penalty.