Women’s Resource Advertising
WOMEN AND WEALTH:
RETIREMENT PLANNING STRATEGIES FOR WORKING WOMEN
Many working women save for retirement by contributing to their employer sponsored plans (ESPs). What if you are “maxing out” your ESP and want to save more?
Women who don’t work outside the home are not eligible for ESPs. Are there alternatives or opportunities for stay at home Moms?
Working Women – Outside the Home
You’ve contributed the maximum amount to your employer sponsored plan and your income exceeds the limit for Roth IRA 
contributions and deductible IRA contributions. You may wish to consider contributing non-deductible dollars to a Traditional IRA. If this is your only Traditional IRA, you may be able to convert to a Roth IRA without incurring any taxes.
The benefi t of a Roth IRA is you can take tax free withdrawals as long as you are age 59 . and have owned a Roth IRA for at least 5 years. Unlike a Traditional IRA, a Roth IRA has no minimum distribution requirement at age 70 .. Since there is no mandatory distribution, you can continue to build value to be passed to your family, income-tax free.
Start investing in you by providing the opportunity for tax free withdrawals to you and your family.
Stay At Home Mom
If you don’t have earned income but your spouse does, a Spousal IRA may allow you to fund an individual retirement account (IRA). A Spousal IRA is your own account, in your name.
Normally, to contribute to an IRA, you must have compensation at least equal to your contribution. But if you’re married and fi le a joint federal income tax return, the amount you can contribute to your IRA isn’t limited by your individual income. Instead, it’s based on the combined compensation of you and your spouse. You may be eligible to contribute up to $5,500 in 2013 (plus a $1,000 catch-up contribution if you are age 50 and older).
Start investing in you by opening and contributing to an individual retirement account in your name.
Women have their own unique challenges, but we understand them and can help. There are a number of retirement options for stay at home moms, working women and more. Want to learn more? Like us on facebook, visit our Women and Wealth page on our website, or contact us for more information.
Start investing in you.
Amanda R. Piper, MBA, CEP®, Financial Advisor
Wagener-Lee, LLC An Independent Registered Investment Advisor
5950 Symphony Woods Road, Suite 412, Columbia, MD 21044
443-276-9595
[email protected] www.wagener-lee.com
Converting a traditional IRA into a Roth IRA has tax implications. An investor should carefully consider the source of funds used to pay the taxes owed on a Roth conversion. Additionally, each conversion amount may be subject to its own fi ve-year holding period. Penalties and taxes may apply if the investor uses money from the IRA as the source for conversion taxes. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Be sure to contact a qualifi ed professional regarding your particular situation.
Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. The CEP ® (CERTIFIED ESTATE PLANNERTM) and MCEP® (MASTER CERTIFIED ESTATE PLANNERTM) are trademarks registered with the United States Patent and Trademark Offi ce, and solely owned by the National Institute of Certifi ed Estate Planners, Inc. These certifi cation marks are awarded to individuals who successfully complete the NICEP certifi cation requirements and who also comply with annual maintenance requirements.
