Peak Retirement Planning, Inc. founder, Joe Schmitz Jr., seeks to bring a new perspective with enthusiasm and dedication to the financial planning industry. His unique approach involves building lifelong trusted relationships with the families his firm serves; Peak Retirement Planning, Inc. offers comprehensive retirement planning with a tax planning focus.
“Most of the bigger firms in the financial services industry only provide investment management; therefore, our focus on tax planning sets us apart,” Joe said. “Many families leave their advisors after working with them for 20+ years to work with us because their advisor does not help them with tax savings strategies.”
Many financial planners will not review a client’s tax return, claiming they are not “tax professionals” as an excuse to avoid the extra work. Joe said, informing clients to contribute to a Roth or Traditional IRA, standard advice in the industry, is tax planning. Most financial planners do not offer tax planning because of the additional compliance considerations, further training and expertise required.
Save Money with Tax Planning in Retirement
CPAs frequently file taxes and only use reactive measures. Schmitz Jr. offers a different approach by building policies that look forward, which provides savings on taxes through the retirement years.
“CPAs are excellent to work with and I work with one personally and professionally, but most CPAs do not have the time or know your situation sufficiently, to provide these strategies. They would have to know your entire financial situation and understand your financial goals now and in the future,” Schmitz Jr. said. “CPAs have also been taught to defer taxes until they are due, which is not necessarily the best advice for everyone right now.” With tax rates low, it is not always to your advantage to defer tax payments to the future when they could be higher. They could be higher in the future from not only tax rates increasing but also, future Required Minimum Distributions (RMD’s), receiving Social Security, pensions, etc.
“Simple tax planning strategies can save over thousands of dollars and many people are missing out on those savings just because they are not aware,” Schmitz Jr. said. “You have worked hard for 30+ years, make sure you are living the retirement you deserve and not leaving money on the table by missing these opportunities. This is your lifesavings; we are working with, and we understand the importance of paying attention to every detail.”
Peak Retirement Planning, Inc. provides a process called the Simplified Retirement Plan to help families pursue their goals and address their concerns, strategize the best path to their retirement objectives, and then build an ongoing lifetime relationship. During this process, Peak Retirement Planning, Inc. creates a tax plan using their advanced tax software and reviews their list of over 50 Tax Saving Strategies to allow you to pay less to Uncle Sam.
To learn more about tax planning for retirement and the Simplified Retirement Plan, visit the Peak Retirement Planning, Inc. website or reach out to Joe directly.