Asset Allocation* Asset allocation is a strategy aimed to reduce the risk of investing. Spreading your assets among stocks, bonds and cash is crucial because these core investment categories tend to rise and fall at different times. PrimeVest Financial Services can help you allocate your assets appropriately by taking into account several factors, including your age, goals and risk tolerance. As your circumstances change over the years, we’ll recommend adjusting your allocation when necessary so your portfolio strikes the right balance between risk and reward. * Asset allocation will not guarantee a profit or protect you from loss; however, it may provide a hedge against risk and create opportunities in both bull and bear markets.  top
Portfolio Management As your wealth increases, the more complicated — and time consuming — investing becomes. To prevent it from turning into a part-time job, rely on the portfolio management services available through PrimeVest Financial Services, Inc. We’ll consider the big picture — your goals, your need for income, the impact of inflation, tax ramifications* ... in short, everything that could have a bearing on the makeup of your portfolio. Then we’ll recommend strategies designed to keep your investment program on the right track. And if all you want is a second opinion, that’s fine, too. Just ask us to take a look at your portfolio. We’re happy to do so without charge or obligation. * For a comprehensive review of your personal situation, always consult with a tax or legal Advisor. Neither PrimeVest, nor any of its representatives, may give legal or tax advice. top
IRAs Do you or your spouse have earned income? If so, you’re eligible to contribute up to $5,000 per year to an IRA. If you’re at least 50 years old, you can even put away an extra $1,000 annually. There are two primary types of IRA. With a traditional IRA, contributions are deductible (assuming you aren’t covered by a company retirement plan or your income falls under certain limits), and earnings grow tax deferred until you take distributions in retirement. With a Roth IRA, contributions aren’t deductible, but your earnings grow tax free — instead of just delaying taxes, you avoid them altogether (provided distributions are taken when you’re over age 59 1/2, the account is at least five years old, and your income falls under certain limits.)* Our investment professional can analyze your situation and help you decide which IRA is best. If you’re leaving your job, we also can help you transfer the money you’ve accumulated in your company retirement plan into a rollover IRA, thereby avoiding taxes and penalties and preserving tax-deferred growth. We also offer SEP-IRAs for sole proprietors and SIMPLE IRAs for small businesses (typically 10 or fewer employees). * Penalties may apply for early withdrawal. 10% IRS penalty may also apply to withdrawal prior to age 59 1/2.
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Roth IRAs Though ideally reserved for retirement, IRA assets also may be withdrawn without penalty to pay college expenses. The Roth IRA, in particular, is worth considering. Granted, earnings within a Roth IRA will be taxed if you withdraw them to pay college expenses before you either reach age 59 1/2 or have held the account at least five years. So focus instead on your principal — the up to $5,000 you’re entitled to contribute each year. Since contributions are made with after-tax dollars, you may withdraw them at any time for any purpose without tax or penalty. Even better, the IRS assumes that you’re withdrawing your principal first. Only after it has been exhausted will future withdrawals of earnings be taxed. This favorable tax treatment makes Roth IRAs a viable option for supplementing your college savings. Though investment products are available at West Shore Bank offices, they are not deposits or obligations of West Shore Bank. Consequently, they are not guaranteed by any bank and are not insured by the FDIC. Please remember that all investment products involve risk, including the possible loss of principal. top
401(k)s Does your employer offer a 401(k), 403(b) or another type of defined contribution retirement plan? If so, join it as soon as you can. At the very least, contribute enough to qualify for any matching dollars your employer might offer. A match of 50 cents on the dollar is identical to an immediate 50 percent return — an unbeatable deal.What’s more, your contributions lower your taxes because they aren’t counted as part of your income. Even better, earnings grow tax deferred until retirement. If you’re an employer, PrimeVest Financial Services can help you set up a 401(k) plan. We’ll also meet with each of your employees annually to help them make prudent asset allocation decisions. For that matter, we’re happy to provide guidance for anyone with a 401(k) — even if your plan wasn’t set up by us. Though investment products are available at West Shore Bank offices, they are not deposits or obligations of West Shore Bank. Consequently, they are not guaranteed by any bank and are not insured by the FDIC. Please remember that all investment products involve risk, including the possible loss of principal. top
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