401(k) & IRAs

401(k)s and IRAs are powerful tools for building your retirement savings. A 401(k) is an employer-sponsored plan that allows you to contribute pre-tax income, often with matching contributions from your employer, making it a great way to boost your savings. IRAs, available in traditional or Roth options, offer tax advantages and flexibility for individuals who want to save independently of an employer plan. Both 401(k)s and IRAs allow your investments to grow tax-deferred, helping you build a nest egg for your future while offering potential tax benefits along the way.

What to do with your 401(k) and 403(b)?

Many people put money into a 401K/403B account during their working years. This is a retirement savings offered by Employers to their Employees. They can have pretax dollars (Traditional 401K or after-tax dollars Roth 401K) taken out of their paycheck each pay period and placed into this account. Many Employers will match the Employees contribution or will pay a percentage into the 401K if you are participating in the plan.

Am I taking full advantage of employer contributions and tax benefits?

Does my investment strategy align with my retirement goals and risk tolerance?

A 401K/403b can be rolled over into an IRA when you leave your job, retire, or you may be able to move a portion of your 401K based on your contribution amount and length of time at your job. It is up to the Company/Employer and is different for everyone.

Individual Retirement Accounts (IRA)

An IRA simply means, Individual Retirement Account. A person cannot share this account. This is a label for the IRS that identifies what type of money this is. There are two types of IRA’s…Traditional and Roth. A Traditional IRA tells the IRS it is qualified money, an account that has never been taxed before. Whenever you take money out of a Traditional IRA, whatever you take out, that amount will be taxed at your current tax rate. A Roth IRA tells the IRS it is after tax money. This money has already been taxed and will grow tax free the rest of your life.

Which type of IRA—Traditional or Roth—what’s the difference? Is there something better for me?

Many people will roll over a 401K (pretax) or Roth (after tax) into an IRA after they retire or if they leave a job and move to another job. IRA money may be allocated in many different places such as stocks, bonds, mutual funds, annuities, CD’s, etc. You can also make tax contributions to an IRA each year up to a certain limit based on your age.

Your 401(k) and IRA Rollover Specialists

Joy Nunn

Tanner Nunn

OUR AMT FAMILY

We love getting asked what the "AMT" in AMT Financial represents. Joy Nunn, Founder & CEO, named her company after her three children, Alex "A," Mackenzie "M," and Tanner "T." Fun Fact: All three of Joy's children work with Joy and contribute to AMT Financial!

OUR MISSION STATEMENT

At AMT Financial, we prioritize our client relationships to ensure our recommendations are the best path toward a secure financial future.