Retirement Plans
From employer-sponsored 401(k) plans to self-directed IRAs, we offer a full range of tax-advantaged retirement savings solutions.
Overview
Retirement planning is one of the most important financial decisions you will make. Ocean Financial LLC provides guidance across the full spectrum of qualified retirement plans — helping you maximize contributions, manage taxes, and build a sustainable income strategy for the years ahead.
Ideal For
Employees, self-employed individuals, small business owners, and anyone planning for a financially secure retirement.
Key Benefits
- ✓Tax-deferred or tax-free growth options
- ✓Maximize annual contribution limits
- ✓Employer match optimization guidance
- ✓Rollover and consolidation assistance
- ✓Retirement income distribution planning
Available Under Retirement Plans
401(k)
Employer-sponsored plan with pre-tax contributions and tax-deferred growth.
Solo 401(k)
Designed for self-employed individuals with higher contribution limits than standard IRAs.
Roth 401(k)
After-tax contributions for completely tax-free growth and qualified withdrawals.
Traditional IRA
Tax-deductible contributions with tax-deferred growth; taxes paid upon withdrawal.
SEP IRA
Simplified Employee Pension for self-employed individuals and small business owners.
Roth IRA
After-tax contributions with tax-free growth — optimal if you expect higher taxes in retirement.
SIMPLE IRA
Savings Incentive Match Plan for Employees — a cost-effective retirement plan for small businesses with up to 100 employees.
TOD (Transfer on Death) Account
A brokerage account that transfers assets directly to named beneficiaries upon death, bypassing probate.
HSA (Health Savings Account)
Triple-tax-advantaged account paired with a high-deductible health plan — for qualified medical expenses now or in retirement.
Trust Account
A fiduciary account managed for the benefit of a beneficiary — ideal for estate planning and controlled asset transfers.
Frequently Asked Questions
What is the 2024 401(k) contribution limit?
The 2024 limit is $23,000 ($30,500 if age 50+). Contribution limits are adjusted periodically by the IRS. Consult your advisor for the most current figures.
Can I have both a 401(k) and an IRA?
Yes. You can contribute to both, subject to income and contribution limits. Your advisor can help you determine the optimal strategy.
What happens to my 401(k) if I change jobs?
You have several options: leave it with your former employer, roll it into your new employer's plan, roll it into an IRA, or take a distribution (which may be subject to taxes and penalties).
Important: Investment products are not FDIC insured, not bank guaranteed, and may lose value. Insurance products are offered through licensed insurance agents. Past performance is not indicative of future results. Ocean Financial LLC is not a bank.