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Financial Planning
Services
At Bannon, Ohanesian & Lecours, Inc., our goal is to help you grow and preserve your assets. While
portfolio
performance depends on many factors, our strategy seeks to minimize
volatility while pursuing long-term growth. Having a balanced portfolio
across asset classes and diversified within these asset classes are core
elements of long-term investment success.
Retirement
Resource Center
 On average Americans spend about 90,000 hours working to build their retirement nest egg
and less than 10 hours planning for it. Whether your financial goals include accumulating wealth for
retirement, transitioning your retirement plan savings when
leaving a place of employment, or taking income distributions
during retirement, Individual Retirement Accounts (IRA) offer flexible, tax-efficient
strategies.
Pension
Planning Services
Your company can attract a higher level of employee ~ most
employers view retirement plans
as a required additional form of compensation. Bannon, Ohanesian and Lecours, can offer a variety of retirement planning
vehicles, services and programs for businesses of all sizes. Retirement Plan Comparison Chart
Roth 401k Retirement Savings
Trust
& Estate Services
Bannon, Ohanesian & Lecours
provides a broad array of
sophisticated estate and tax
 planning services for individuals as well as
families. This will assist us
to ensure that your financial interests are
protected. National Advisors Trust Company
an affiliate of Bannon, Ohanesian & Lecours, Inc.
Educational
Savings Programs
If you haven't
started saving for your child, consider the 529 savings plan. If
you are wondering if you can have more than one type of college
plan, the answer is yes, provided you don't make a contribution
to two in the same year.
But even more
attractive is the ability to rollover most existing savings
plans without penalties.
Whatever plan you choose, it's never to soon to get
started.
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Feature Articles
or Highlights
Some Tips on Planning for Retirement, whether you're age 20 or 59
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Roth IRA Vs
Traditional IRA - Which is right for me?
Important
Information
IRA Contribution Limits
What is the IRA contribution
limit and deadline for making 2007 contributions? For 2007,
the regular annual contribution limit to a Traditional or Roth IRA (if
eligible) is $4,000. If you are age 50 or older (as of
December 31, 2007), you can make an additional catch-up contribution of
up to $1,000, for a total contribution of $5,000.
For
2008,
the regular annual contribution limit to a Traditional or Roth IRA (if
eligible) is $5,000. If you are age 50 or older (as of
December 31, 2008), you can make an additional catch-up contribution of
up to $1,000, for a total contribution of $6,000.
Update your
beneficiary designations - If
you’ve experienced any life-changing events — such as getting married or
having a child — you may want to update your retirement plan and IRA
beneficiary designations.
Rollover IRA -
Take control of your
Retirement Assets - If you've changed jobs or recently retired, you may be wondering
what you should do with a 401(k) or other retirement savings account
from a former employer.
We can help you rollover existing assets into qualified
retirement accounts
(IRA's) with individualized strategies.
Tough
choices: Retirement vs College -
keep these key facts in mind when thinking about
retirement and college savings:
Most advisors agree that you
should take full advantage of special retirement
accounts such as 401(k), IRA, and 403(b)
tax-sheltered annuities before funding your
college savings accounts. These retirement plans
offer special tax advantages, and, in some
cases, matching contributions from your
employer.
Assets in retirement accounts
will not affect your child’s prospects for
federal financial aid (unless you actually take
distributions from them during the college
years). Neither will life insurance or
annuities. If your child is earning a small
amount from working, a Roth IRA can be a great
way to invest unspent income.
IRAs can even be a secondary
source of college funding. Tax law permits you
to tap your traditional or Roth IRA for
qualified college costs without incurring the 10
percent penalty for distributions before age 59
1/2. Income tax may apply, however.
Except in unusual
circumstances, your 401(k) is less accessible
for college. You might be able to borrow from
your 401(k), but any money borrowed will have to
be paid back in short order.
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Bannon,
Ohanesian & Lecours, Inc.,