President And Founder
Evan Levine is the President and Founder of Complete Advisors based in Valley Stream NY, an Independent Financial Advisor and Planner (RIA) with 30 years experience. If you are an employer (sponsor) of a qualified retirement plan ( 401k or 403b), Evan can work with you to reduce fees and improve outcomes for your participants. If you are an individual investor he can help you get and stay on track for a secure a comfortable future.
Complete Advisors is an Independent financial advisory and planning firm which assumes a direct fiduciary relationship with retirement plan sponsors and individual investors. Evan and his team's role is to provide comprehensive, objective, and client-centered financial planning advice to individual investors and retirement plan sponsors.
Evan and his team work best with companies and individual investors that are seeking "big picture'' investment & financial guidance, who prefer delegating these functions to a planner or advisor rather than doing it on their own. Together with their strategic partners, Evan provides a Complete 401K / 403b outsourcing solution beyond investment advice including record-keeping, administration, participant education & advice, FULL fiduciary protection - even offering audit support when needed.
BS, Business/Managerial Economics, SUNY Oneonta
Assets Under Management:
Financial & Retirement Planning Advisor | Nassau County, NY
Sector Funds Post 9 29 17
There are pros and cons to each approach. The pension benefit would offer a fixed and stable income amount but may or may not be adjusted for inflation and would be fully taxable assuming the contributions were not taxed. If you roll the funds into a Roth IRA - it can be very effective because all withdrawals are tax-free. Also you heirs can inherit the IRA and stretch out tax - free withdrawals over their entire lifetimes if they choose to. However, if the original contributions were pre-tax you would need to pay all of the taxes currently upon conversion. These decisions are best made in the context of a big picture comprehensive financial plan.
Hi, I have set this up for many investors and it works quite well: the first step is to design an asset allocation strategy for your 401k: figuring out what portion should be directed towards equity investments and fixed dollar instruments. The second step is to set up a SWIP; acronym for Systematic Withdrawal Income Plan. Under this arrangement, we will systematically raise a certain amount of cash - pro rata - across our allocation strategy and have that amount electronically transferred to your checking account each month. The third step is to monitor the account and your situation on a regular basis for possible adjustments. We have set this up for many semi-retired investors and it has held up as planned even through difficult markets like 2007 and 2009.
If you genuinely have a significant financial plan, I believe the issue should have already been discussed and covered. Are you using a software program with the assistance of a human, economic advisor? If you are, you and your advisor can model different scenarios, including the effects of reducing your 401k contribution, and discover the impact each scene has on the probability of achieving your stated objectives. It is not reasonable to answer your question in a binary fashion without an understanding of your entire financial picture in the context of your goals, particularly your target retirement spending need.
Many investments can be held inside a Roth IRA so the underlying investments utilized would determine how much risk is assumed. As far as comparing the Roth IRA to a traditional IRA the difference is in the tax treatment. While contributions to the ROTH are not currently tax deductible, withdrawels later on come out tax free. With a traditional IRA , contributions are generally tax deductible, while withdrawals later on are subject to income tax. So perhaps one might suggest that there is risk associated with a ROTH - if tax rates are much lower when you make withdrawals, you would have been better off taking the deduction up front. But the question, I think , misses what’s most important. The dominant variables that contribute towards your investment success are 1) when and how much you invest 2) when and how much you withdraw 3) your investment allocation 4) your behavior - the choices between Roth IRA , traditional IRA , or any other tax related decision will have a very small impact on your results.