How IRAs are a helpful tool in retirement planning

When it comes to retirement planning, individual retirement accounts (IRAs) can be a great tool for income growth.

This article is Sponsored by Bright Wealth Management

BY BRIGHT WEALTH MANAGEMENT

Jan 21, 2025, 4:50 PM

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PHOENIX — When it comes to retirement planning, individual retirement accounts (IRAs) can be a great tool for income growth.

IRAs are tax-deductible and understanding how to utilize them in retirement planning can be useful when it comes to maximizing investments and saving money.

“Some of the pitfalls that I see a lot of times is just people not utilizing those investments in a way that’s going to most benefit them,” Matt Dages, president and founder of Bright Wealth Management, said.

“I see people for instance that have Roth IRAs which we want to really maximize growth on, it’s all about time and growth and tax-free growth and you should be taking a little bit more risk and those should be a little bit more aggressively set up just because their time horizon is a little bit different on that.”

One company has emerged that will help you utilize IRAs in order to save the most money on retirement planning.

Who to turn to for IRAs?

Bright Wealth Management will help you understand the do’s and dont’s of IRAs in order to help you save money.

Bright Wealth will help maximize IRAs and help balance risk in your retirement plans from factors such as inflation.

“When we look at how inflation is going to impact your retirement accounts, well, if you’re not prepared for it, then you could actually be hurting yourself because maybe you’re forced to withdraw more than you need to or more than you had planned for,” Dages said.

“Through those withdrawals on those is now you’re getting taxed more than you’re expecting and you have higher cost of living. And it’s just a snowball of negative, of bad things happening right there, that compound. So you really wanna plan for inflation as how it’s gonna affect your portfolio.”

Receive a complimentary written retirement plan or call 833-777-4296 for more information.

The Bright Wealth Management Show with Matt Dages airs Saturdays from 1 p.m. to 2 p.m. and Sundays from 3 p.m. to 4 p.m. on 92.3 FM.