Take care of your team with a retirement plan that goes to work for them and your business.
For business owners looking to reward and incent employees with an attractive, well-designed retirement benefit plan, we can help.
As an independent financial advisory firm, Shoop Wealth Management has access to an extensive array of investment providers and products. We aren’t pressured to recommend any investments. Instead, our financial advisors evaluate and help you select investments and options to custom-build the retirement plan that addresses the unique needs of your company and the individuals who help drive its success.
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Your business is unlike any other. Your retirement plan should be too.
There’s nothing cookie-cutter about our approach to investment planning: We use our wealth of investment resources to tailor a retirement plan that suits your business, taking into consideration your industry, company size, compliance issues, as well as your goals and expectations.
We take retirement planning personally.
Ours is an organic process. Expect to meet with us in person to talk about your vision for your business retirement plan. We will sit down with you and each employee, ensuring efficient and seamless plan education and investment selections with ongoing review and support.
Welcome to boutique-style benefits planning.
Here’s the experience Shoop Wealth Management creates for you and your team:
Discovery
We meet with you to learn firsthand about your business and employees, and your goals, expectations, risk tolerances, and any other special considerations.
Strategic Planning
Based on our discussions, we build a plan to address your requirements and goals, and present you with options to arrive at a plan that suits your unique business.
Education
We connect with your team from top to bottom, providing a comprehensive overview of your 401(k) plan and answer questions to help plan participants make informed decisions.
Onboarding and Implementation
One of our financial advisors sits with each plan participant to ensure a smooth selection and onboarding process tailored to each person’s individual retirement goals.
Review and Optimization
Twice annually, we take a look at your selected funds to gauge returns and offer suggestions to optimize performance and cost, and then adjust accordingly, if desired.
It’s our job to make your life easier.
Find the retirement option right for you
A 401(k) plan is a tax-advantaged savings and investment account offered by many employers to their employees. As an eligible employee, you can make contributions to your 401(k) account through automatic payroll withholding (which your employer can match). Those contributions are invested in funds of your choosing from a list of available offerings.
The investment earnings in a traditional 401(k) plan are not taxed until you withdraw that money, typically after retirement. Another benefit: Because 401(k) contributions are withdrawn from your paycheck pre-tax, they can significantly lower your taxable income for the year.
A 403(b) plan is a special kind of retirement plan for the employees of certain non-profit organizations. As in a 401(k) plan, a 403(b) plan allows employees to choose to save a percentage of their salary, tax-deferred, and invest that money for retirement.
Generally used for long-range planning goals, the Traditional IRA allows you to invest up to $6,000 of your earned income per year ($7,000 if you are age 50+) in a tax-deferred account. Depending on your income, tax-filing status, and other factors, contributions may be tax-deductible. When you take your distribution, the income is treated as ordinary income and is subject to tax. At age 72, Required Minimum Distributions (RMDs) must be taken over the life expectancy of the owner. Withdrawals prior to age 59½ may be subject to taxes and a 10% penalty.
A Roth IRA is similar to a Traditional IRA in its annual contribution limit of $6,000 ($7,000 if you are age 50+). The difference is that you fund the Roth IRA with after-tax dollars and pay no income tax on qualified distributions.
Simplified Employee Pension (SEP) IRA is an employer-sponsored retirement plan specifically designed for self-employed individuals with no employees. SEP IRAs are low-cost, carry a relatively low administrative burden, and have higher contribution limits than standard IRAs.
Neither Stifel nor its affiliates provide tax advice. You should consult with your tax advisor regarding your particular situation.