SCOTTSDALE, Ariz., June 19, 2014 /PRNewswire-iReach/ -- Stonegate Financial Group is an investment firm based in Scottsdale, Arizona. With over $210 million managed for 190 clients, Stonegate recognizes the importance of saving for the future and making the most of investments. Now more than ever, making sound financial decisions with the help of experts is a great way to help clients to live more comfortably and happily through smartly planned investments.
One particular example involved a couple that owned a growing software company and regularly met with a financial adviser to build a financial plan and how to best manage their taxes. Unfortunately, the husband passed away suddenly and the needs of the wife and the business had to be reviewed. Since they reinvested distributions made from the company and put it back into the business, the couple had less than $100,000 in savings.
In order to find a solution, Stonegate Financial Group made a significant change by modifying the company's Savings Incentive Match Plan for Employees of Small Employers to a specific benefit plan and a Safe Harbor 401(k), which featured a profit-sharing option. This helped the wife put in large amounts of pretax dollars to the plan and rebuild the contributions to put back in her retirement plan. The goal was for the client to earn back 85% of what was put into the company's plan, which would allow the remaining amount to go into the employee's benefits.
According to Stonegate Financial Group, the wife's annual contributions limits were calculated based on her retirement age, personal salary, and the ages of the employees of the company. As a result, the combined plan would allow for more money to be allotted for those closer to retiring. Since the wife was close to retirement age and her staff was younger, most of the contributions would go to her. This is what helped increase her retirement funds. At the same time, the employees also had an increase in retirement savings, which helped the company to retain employees and reduce the cost of having to train newly hired people. Through careful planning that will have an impact, saving for retirement is practical for all people who want to prepare for the future.
For more information about the financial planning services that Stonegate Financial Group provides, visit http://www.stonegatefg.com
Media Contact: Jameson Van Houten, Stonegate Financial Group, (602) 953-8451, firstname.lastname@example.org
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