Retirement Planning in Spokane Valley

Choosing the proper retirement plan is the key to a secure retirement. We’ll be here to guide you throughout your retirement planning!

Did you know…

  • The average monthly benefit paid by the Social Security Administration is $1,200. 
  • That retirement can last for 30 years or more.
  • You may need up to 80% of your current annual income to retire comfortably.

Business benefits

  • The options for retirement planning are flexible. 
  • Employer contributions are deductible.
  • The plan’s assets will be tax-free.
  • Tax credits and other subsidies may assist in lowering the price of your plan.

Employee benefits

  • Employee contributions can reduce current taxable income.
  • Contributions and investment gains are taxed at the time of distribution.
  • Contributing is simple when you have deductions taken out of your paycheck.
  • Over time, additional contributions result in more significant retirement savings because interest accrues.
  • Your retirement assets don’t have to disappear when you leave your job. You can take them with you to your next employer.
  • Some employees may qualify for the saver’s credit.

Employees can increase their financial security in retirement by increasing their income.

First steps to learning about and setting up a retirement plan?

Contacting a tax professional knowledgeable about retirement planning or financial planner that offers retirement plans is an excellent place to start.

What Types of Retirement Plans are Available for Individuals?

Here are a few of the most commonly used types of retirement plans in Washington State.

401(k) – Retirement Account

  • A 401(k) is a retirement savings plan that allows employees to contribute a portion of their wages to an individual account. 
  • The contributions are deducted from the employee’s taxable income (except for designated Roth deferrals). 
  • Employers can also make contributions to the employees’ accounts. 
  • When the employee retires, they will have to pay taxes on any distributions from the account (except for qualified distributions of designated Roth accounts).

Roth IRAs – Retirement Account

A Roth IRA is an IRA that, as explained below, is subject to the rules that apply to a traditional IRA.

  • You cannot deduct contributions from a Roth IRA.
  • If you satisfy the right conditions, your qualified distributions can be tax-free.
  • You can make contributions to your Roth IRA after reaching age 70 ½.
  • You can leave amounts in your Roth IRA as long as you live.
  • The account or annuity must be designated as a Roth IRA when it is set up.

The same combined contribution limit applies to all your Roth and traditional IRAs. 

Limits on Roth IRA contributions based on modified AGI

How much you can contribute to your Roth IRA is based on how you file your taxes and how much money you make.

Individual Retirement Arrangements (IRAs)

IRAs enable you to make tax-deferred investments to provide financial security when you retire.

You can set up an IRA with the following:

    • banks or other financial institutions
    • life insurance companies
    • a mutual fund 
    • through a stockbroker 
    • Moulton Wealth Management!


Retirement Planning for Business Owners

What are the stages of sponsoring a retirement plan?

The sponsoring process of retirement planning has four stages: ChoosingEstablishingOperating, and Terminating each program.


There are many different retirement plans you can choose to adopt. You select a plan by:

  • Considering how much money you will need in retirement, and
  • Learning about the types of tax-qualified retirement plans that will help you save for your and your employees’ retirement.


You take the necessary steps to put your plan in place. Depending on the type of plan you choose, the administrative measures may include the following:

  • adopting a written plan;
  • arranging a trust for the plan’s assets;
  • notifying eligible employees about the terms of the plan; and
  • creating a recordkeeping system.


You want to operate your retirement plan so that the assets in the plan continue to grow and the plan’s tax benefits are preserved. The ongoing steps you need to take to operate your plan may vary depending on the type of plan you establish. The basic steps of retirement planning should include the following:

  • covering eligible employees;
  • making contributions;
  • keeping the plan up-to-date with retirement plan laws;
  • managing the plan assets;
  • providing information to employees participating in the plan; and
  • distributing benefits.


When your plan no longer suits your business, you will close the plan and notify the appropriate parties.

You may want to discuss these four stages with a tax professional familiar with retirement plans or a financial institution that offers retirement plans.

Why should I invest in retirement planning, and what are the benefits?

Retirement plans allow you to put money into a plan now to enjoy financial stability in retirement. A retirement plan benefits your company and its employees. As a bonus, you and your staff receive tax advantages and other perks.

These are just a few of the many retirement planning styles you can use to ensure your retirement won’t be a “dud.” We all desire financial stability into our golden years, so we’ll work with you to create a plan that helps you sleep soundly at night, knowing your family and your legacy – are in good hands. Contact our office to get started at 509-922-3110.


  • norman

    When is your next presentation in Spokane? Thank you for your radio show, it is very insightful. I love that you focus on trends.

    • Hello Norman! Thanks for your interest in our next presentation. We highly recommend registering for our newsletter as we make our announcements about upcoming events there.

      I just checked our latest newsletter and it appears these will be our final events of the year if you’d like to attend:

      November 15th @ 9:30 am – spokane
      (last of the year for spokane)

      October 25th @ 11:00 am – richland
      (both have breakfast)

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