Photo of Ray Ferrara CFP Ray Ferrara CFP Sep 01, 2021

There is a wide array of financial tools available to couples in Tampa, Florida, who are looking to meet specific financial goals. Retirement and joint investment accounts are two of the most popular of these tools. However, navigating how these two types of accounts fit into your financial plan can be tricky. Fortunately, a CERTIFIED FINANCIAL PLANNER™professional can help you understand retirement and joint investment accounts more fully. They can help integrate them into your customized financial plan, too.

What are retirement and joint investment accounts?

A CFP® professional will take the time to help you understand retirement accounts and joint investment accounts. The reason? They want you to have the information you need to make the best decisions about your finances. For instance, your CFP® professional in Tampa can tell you what these accounts are.

A joint investment or brokerage account is an investment account to which both you and your partner have equal rights and access. These types of accounts allow couples to invest in:

  • Stocks.
  • Bonds.
  • Mutual funds.
  • Property
  • Real estate.

Retirement accounts are investment accounts that are designed to help an individual build wealth for their retirement. They are typically individual, which means both partners may have 401(k)s, IRAs or Roth IRAs in their own names.

What types of goals can a CFP® professional help you achieve with retirement and joint investment accounts?

Each couple tends to have unique financial goals based on many factors. However, most financial goals fall into two broad categories: short-term goals and long-term goals. A CFP® professional can advise you about which goals retirement and joint investment accounts can help you achieve. Many financial advisors recommend using:

  • Joint investment accounts to meet short-term financial goalsJoint investment income can be used to fund your retirement accounts. However, many people often use these proceeds to meet near-term financial goals. Such goals could include buying a home or funding travel plans.
  • Retirement accounts to meet long-term financial goals — Retirement accounts are designed to generate wealth that you can use once you decide to stop working. As such, they tend to be longer-term investments. A CFP® professional can advise you on retirement investment options that can help you achieve your long-term financial goals.

Talk to a ProVise CFP® professional about retirement and joint investment planning

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, current and future goals, risk tolerance and personal values to help you develop a plan that works for you. We can also create a written financial advisory plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.

Are you ready to talk to a professional about how you can integrate retirement and joint investment accounts into your financial plan? Contact ProVise today to schedule a complimentary consultation.