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Investment Strategies for Retirees With Extra Money

by AOG Wealth Management

AOG Wealth Management has many years of experience helping clients safeguard and grow their wealth. As an investment management advisor,  we understand that every client has unique and evolving financial goals, which is why we provide sophisticated and personalized investment solutions. Today, we share strategies to help retirees invest extra money.

Investment Strategies

  • Consider a QLAC: You can buy a qualified longevity annuity contract (QLAC) within your IRA or other tax-advantaged retirement fund. This is a type of deferred annuity that will provide you with regular income later in your retirement. The amount you use to buy a QLAC is protected from required minimum distributions until you turn 85. You can also buy this with a return of premium so that your heirs can get the money back.
  • Be More Aggressive With Your Investments: This is a good approach if your primary goal is maximizing what you will leave to charity or your heirs. Since you don’t need the money right now, you can afford to be more aggressive with your investing. If maximizing your assets is your objective, our wealth management advisors can help you with specific advice. Simply schedule a consultation with us.
  • Consider a Roth Conversion:  Under a traditional IRA, the IRS mandates that you take required minimum distributions and pay taxes on the money beginning at age 70 and a half. To avoid this, you can instead opt for a gradual Roth rollover during a five- to eight-year period. RMDs aren’t required on a Roth IRA. You will still have to pay taxes, but you’ll have more strategies to maximize your investment.

If you need more detailed advice, AOG Wealth Management will be happy to assist you. Our wealth management advisors can help you meet your financial objectives. During our consultations, we will conduct a thorough data-gathering session to provide you with a customized financial solution. We serve many areas, including Washington, DC and Ashburn, VA. Call us at (866) 993-0203 to learn more about saving for retirement. You can also schedule a no-obligation, complimentary consultation.

Category: Wealth Management