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For the fifth year in a row, B.O.S.S. Retirement Solutions has earned the Best of State award for retirement planning in Utah. A panel of impartial judges chooses individuals and businesses who contribute to a better quality of life in Utah and exemplify excellence in innovation and business practices.
Founder and president Ryan Thacker stated, "Our mission is to deliver cutting-edge solutions to help our clients navigate their retirement challenges with confidence. Retiring successfully will never happen by accident."
Founder and CEO Tyson Thacker added, "We are honored to be included alongside other amazing companies and are grateful for our continued growth and success as we serve families across the Wasatch Front."
The key to the company's success lies in its commitment to providing clients with superior service as they work toward providing each one with a secure and independent retirement. Here are just some of the ways B.O.S.S. Retirement Solutions is helping clients plan and prepare for the future.
Tax planning
A common mistake that B.O.S.S. Retirement Solutions sees—and one that most people aren't aware of—is tax overpayment in retirement. Many retirees don't realize the impact this can have on their individual retirement accounts, 401(k), Social Security benefits and investment income.
"Some people (mostly high earners) have pre-tax and post-tax money in their retirement accounts. If so, it's up to them to determine what portion is taxable and what portion isn't when they file their taxes," Barbara Weltman writes for Investopedia.
If you're not good at keeping records or calculating what you owe in taxes, hiring a tax professional like B.O.S.S. Retirement Solutions is a wise choice.
Social Security maximization
B.O.S.S. Retirement Solutions helps clients maximize their income by creating customized plans for when and how to receive Social Security benefits.
"Proper solutions are key in helping you receive a maximized amount in Social Security benefits," Tyson Thacker says. "Many people don't realize that with the right tools they can receive significantly more in Social Security benefits than expected, as well as leverage other sources of income for retirement."
Your claiming strategy could have a domino effect on the taxes with your Social Security benefits, IRA/401K withdrawals and other investment income. It could cause you to forfeit thousands of dollars every year in other benefits. And it could even double your Medicare premiums.
So deciding how and when to claim Social Security must be a coordinated effort with a retirement planner.
Investment management
Saving up for the future requires more than putting your money in retirement accounts and 401(k)s. For optimal security, you'll want a diverse portfolio.
"Diversification is key when building an investment portfolio and can protect you from sudden changes in the stock market," Brian Baker writes for Bankrate.
As with many aspects of retirement, investment planning can feel complicated and overwhelming. That's why it's a good idea to consult a financial advisor to help you establish a good mix of retirement investments. The team at B.O.S.S. Retirement Solutions will help you factor in your goals, risk tolerance and investment timeline.
Schedule an appointment today
It's never too early to start planning for your retirement — in fact, the sooner you prepare, the better off you'll be when that day comes. All B.O.S.S. advisors are fiduciaries, which means, by law, they can only act in a client's best interest. And because each client is unique, B.O.S.S. doesn't apply a one-size-fits-all approach to retirement planning. Each plan is customized to the individual client's specific situation and needs.
To schedule a complimentary consultation, visit the B.O.S.S. Retirement Solutions website today.
Tyson Thacker and Ryan Thacker are the co-founders of B.O.S.S. Retirement Solutions in Salt Lake City, a five-time winner of Utah's Best of State Award.
Advisory services offered through B.O.S.S. Retirement Advisors, an SEC Registered Investment Advisory firm. Insurance products and services offered through B.O.S.S. Retirement Solutions. The information contained in this material is given for informational purposes only, and no statement contained herein shall constitute tax, legal or investment advice. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation. You should seek advice on legal and tax questions from an independent attorney or tax advisor. Our firm is not affiliated with the U.S. government or any governmental agency.
