Firehouse Financial is committed to helping all members plan for a secure retirement. Whether you are just getting started, considering your last day on the job, or currently retired, we are here to partner with you to make smart decisions with your money. We invite you to join our Retirement Planning Program. Here’s how it works:
- Connect with a CFS Advisor to schedule your appointment.
- In preparation for your meeting, you will be asked to complete our retirement planning profile.
- During your meeting, we will review your data and discuss your retirement goals.
- Schedule a follow-up meeting to review your advisor’s observations and recommendations.
- Implement the recommendations you and your advisor agree on.
- Create a retirement review schedule to stay on track with your goals and address any life changing events.
Retirement Income Planning
Making the transition from accumulating savings for retirement to turning your savings into an income stream can be concerning for many retirees. Firehouse Financial can help you develop a retirement income strategy that helps you sleep better and enjoy your retirement.
Use our Retirement Planning Calculator as a starting point in developing this strategy and connect with one of our CFS advisors to put it into action.
Individual Retirement Accounts (IRAs)
IRAs offer tax advantages to encourage you to save for your retirement. There are different IRAs for different financial situations. To learn which IRA is best for you, contact Firehouse Financial and learn more.
Types of IRAs:
- Traditional IRA
- Rollover IRA
- Roth IRA
- SIMPLE IRA
- SEP IRA
- Non-deductible IRA
- Beneficiary IRA
- Trusteed IRA
Use our IRA Options Calculator to help you determine whether or not you are eligible to contribute to both the Traditional IRA and Roth IRA and the maximum amount that may be contributed.
Business Owner Retirement Plans
Choosing which retirement plan is right for your business can be very complicated. Firehouse Financial can help you make that decision with some basic information about your business.
We work with several different types of retirement plans:
- Traditional 401(k) – for medium size companies
- Solo 401(k) – for small companies with only an owner and spouse as employees
- SIMPLE IRA – for small companies with less than 100 employees
- SEP IRA – for small companies with one to several employees.
- 403(b) plans – for non-profit organizations
- Defined Benefit Plans – Traditional pension plans
At Firehouse Financial, available through CUSO Financial Services, LP (CFS), the majority of the questions we receive are about retirement planning. So for this reason, we’ve become well-versed on the fire departments retirement benefits. We can review your pension options, deferred compensation plan and other retirement accounts. We like to take a holistic view to retirement planning with focus on achieving your retirement goals: like retirement age, income needs and wants, and special circumstances. We then analyze this information to create a financial plan. The next step is to put the plan in action and then continuously monitor the plan to make sure you are on the right track to your retirement goals. Here is a sample of a retirement plan that we can create for you:
If you’d like to get started on this process before meeting with us, here are some of the forms to get started: