Mapping Your Future

Do you have a secure plan for retirement? We are here to help you to make smart decisions with your money.

Coastal members get a complimentary and personalized Retirement Plan!

1. Connect with a Financial Advisor to schedule your appointment.
2. In preparation for your meeting, you will be asked to complete our retirement planning profile.
   
3. During your meeting, we will review your data and discuss your retirement goals.
   
4. Schedule a follow-up meeting to review your advisor’s observations and recommendations.
   
5. Implement the recommendations you and your advisor agree on.
   
6. Create a retirement review schedule to stay on track with your goals and address any life changing events.

2024 Key Numbers – Tax Reference Numbers at a Glance

Retirement Income Planning

Making the transition from accumulating saving for retirement to turning your savings into an income stream can be concerning for many retirees. Coastal Wealth Management, can help you develop a retirement income strategy that allows you to enjoy your retirement.

Use our Retirement Planning Calculator as a starting point in developing this strategy and connect with one of our advisors to put it into action.

Retirement Plan Considerations at Different Stages of Life

Individual Retirement Accounts (IRAs)

IRAs offer tax advantages to encourage you to save for your retirement. There are different IRAs for different financial situations. To learn which IRA is best for you, contact Coastal Wealth Management and learn more.

IRA Limits for 2024
Types of IRAs:

• Traditional IRA
  
• Rollover IRA
  
• Roth IRA
  
• SIMPLE IRA
  
• SEP IRA
  
• Non-deductible IRA
  
• Beneficiary IRA
  
• Trusteed IRA
  

Use our IRA Options Calculator to help you determine whether or not you are eligible to contribute to both the Traditional IRA and Roth IRA and the maximum amount that may be contributed.

Business Owner Retirement Plans

Choosing which retirement plan is right for your business can be very complicated. Coastal Wealth Management can help you make that decision with some basic information about your business.

We work with several different types of retirement plans:

• Traditional 401(k) – for medium size companies
  
• Solo 401(k) – for small companies with only an owner and spouse as employees
  
• SIMPLE IRA – for small companies with less than 100 employees
  
• SEP IRA – for small companies with one to several employees.
  
• 403(b) plans – for non-profit organizations
  
• Defined Benefit Plans – Traditional pension plans

When you engage in our Coastal Retirement Planning Program you will receive an analysis similar to the following sample.

In this example, our Coastal members are concerned about healthcare and have a goal to travel during their retirement years, while maintaining their desired retirement income (page 1). This analysis includes two “what if” scenarios using different investment return assumptions (pages 6 through 10). We will analyze all aspects of your current financial position to see if you are currently on track to achieve your financial goals, and we will create a personalized strategy just for you.

Take a look at one of our sample plans to get a glimpse of our retirement planning process.

Asset Allocation is one of the most important factors that can help determine the rate of return on your investments. It is an investment strategy that uses the following three things to determine how much of your money should be in cash, bonds and stocks.

1. Your goals for the invested money.
   
2. Your risk tolerance (how does it make you feel when your account balance goes down?)
   
3. The timeframe for keeping your money invested.
   

Through our experience meeting with members, we find that many have their money invested in ways that don’t match their goals, risk tolerance or timeframe.

Coastal Wealth Management has access to Morningstar® software to help us evaluate how much risk you are taking in your portfolio and to evaluate the quality of your investments.

See our sample Morningstar® analysis.

This is a hypothetical example and is not representative of any specific investment. Your results may vary.

Asset allocation does not ensure a profit or protect against a loss.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).  Insurance products are offered through LPL or its licensed affiliates. Coastal Credit Union and Coastal Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Coastal Wealth Management and may also be employees of Coastal Credit Union.  These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Coastal Credit Union or Coastal Wealth Management.  Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency   |   Not Credit Union Guaranteed   |   Not Credit Union Deposits or Obligations   |   May Lose Value
 

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment, tax, or legal advice.  We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances.  All examples are hypothetical and are for illustrative purposes.  We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.