At First State Investment Center we are dedicated to helping you plan for retirement. Retirement planning can cover a wide array of topics and many different types of accounts. It is important to work with an investment consultant to determine which plan type and the appropriate investments that are suitable for your situation. From helping to fund your retirement plan, to helping you draw income from your savings, we can assist you every step of the way.

Basics of Retirement Planning

Funding your retirement plan:

Starting an individual retirement plan can be a very simple task. You must first decide which type of account is the best for you. There are 4 basic plan types on the individual level. Two for your own private plan and two if you are a small business owner or self employed. 

  • Traditional IRA
  • Roth IRA
  • Simple IRA

All four of these types of plans can be used to help fund your retirement savings. Each of the plans allow for several investment options, included but not limited to, bank CD’s, Stocks, and Bonds. 

There are also a number of ways to help fund your retirement through employer sponsored retirement plans. For example, 401k’s and 403b’s, can be a great way to put back money for retirement. Some employer sponsored plans even offer a match among other benefits. First State Investment Center can also assist in setting up employer sponsored plans such as these.

All of these plan options have different contribution rules among different tax advantages, it is important to consult your investment professional and your CPA to fully understand and receive full benefit of the plan you choose.

Taking Income from Your Retirement Savings:

The ultimate goal of saving for retirement is to supplement your retirement income, whether that is Social Security or other forms of income. There are many options that you can use for taking income from your hard earned savings. Setting accounts up to accomplish these goals requires planning, and we’re here to help you sort through the details. 

Whether you are rolling over your 401k, or just wanting to take income from your existing IRA, it helps to work with an experienced professional that can provide you all the options and help make a recommendation on the best avenue to take. At First State Investment Center we can help make this an easy and enjoyable process through education and offering you the options that can help make a difference throughout your retirement.

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The LPL Financial Registered Representatives associated with this site may only discuss and / or transact securities business with residents of the following states: (TN).
Securities and Advisory services offered through LPL, Financial, a registered investment advisor. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured. First State Investment Center Deposits are not FDIC insured. These products are not obligations of First State Investment Center are not endorsed, recommended or guaranteed by First State Investment Center or any other government agency. The value of the investment may fluctuate, the return on the investment in not guaranteed, and loss of principal is possible.

First State Bank and First State Investment Center are not registered broker/dealers and are not affiliated with LPL Financial

Not FDIC InsuredNot Bank GuaranteedMay Lose Value
Not Insured by any Federal Government AgencyNot a Bank Deposit