Pub. 2 2012-2013 Issue 6

10 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S the benefits of tax-free withdrawals that Roth IRAs offer. With higher average IRA balances than young millennials, members of generation X are ideal candidates for alterna- tive investments, such as stocks, bonds, and mutual funds. If you are not offering alternative IRA investments, consider expanding your investment offerings, or your clients may look elsewhere. Baby boomers, those born between 1946 and 1964, are starting to retire. Nationwide, more than 10,000 retire every day, and those not already retired will retire in the next 10 to 15 years. Many have missed saving for retirement. And those who have saved have seen their retirement savings decimated by the 2008 financial downturn. Many baby boomers are still making mortgage payments, and with a short retirement sav- ings time horizon, the focus here is on maximizing savings during peak pre-retirement earnings years. These clients will benefit from the new higher contribu- tion limit, as many have the financial resources to make the maximum IRA contribution. Plus, those baby boomers who are age 50 or older have an additional option to maximize their savings: they can make an extra $1,000 IRA catch-up contribution. The Employee Benefits Research Institute found that IRA ownership is greater among baby boomers than among any other generational demographic. With the baby boomer audi- ence, you may want to steer your marketing efforts toward helping these individuals maximize their retirement savings through IRAs and workplace retirement plans. If you offer financial planning services, make sure to offer pre- and post- retirement planning services, as effectively managing your savings in retirement is equally as important as accumulating the dollars needed to ensure a secure retirement. Financial organizations focus on meeting their clients’ needs each and every day. This year, consider centering your marketing efforts around the needs of your individual cli- ent, and both your organization and your clients will reap the benefits. Q Dennis Zuehlke is Compliance Manager for Ascensus in Middleton, Wisconsin. Mr. Zuehlke provides clients with technical support on tax-advantaged accounts (including individual retirement accounts, health savings accounts, simpli fi ed employee pension plans, and Coverdell education savings accounts), and information reporting and tax withholding issues. He is a frequent national speaker on compliance-related issues and retirement savings trends within the fi nancial services industry. Q IRA MARKETING – continued Experience the power. Go to zachisunderstood.com. Power comes from being understood SM . A partner who really knows your game is a key part of any strategic approach. And when you trust the advice you’re getting, you know your next move is the right move. That’s what you can expect from McGladrey. That’s the power of being understood. Call Steve Riddle at 303.298.6400. Is 6 enough? Yeah. You’re a little pumped. Team McGladrey Golfer Zach Johnson and his caddie, Damon Green. Assurance z Tax z Consulting McGladrey is the brand under which RSM McGladrey, Inc. and McGladrey & Pullen, LLP serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure.