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Together we can create a strategy designed to help guide you along the path toward financial well-being.

Retirement Planning

Byron Bank opened a financial services division in 1985 in an effort to expand our investment and insurance products. Through our relationship with LPL Financial, you have access to a broad array of investment choices.

With the need for retirement planning so great, it is fortunate there are so many diverse ways to save for the future. Even so, selecting the proper retirement savings vehicles requires the skilled guidance of a financial consultant who can identify and explain a variety of retirement planning strategies and help you choose the ones that are best for you.

Retirement planning raises many questions:

  • How would you like to live in retirement?
  • How much do you need to save to retire?
  • When do you hope to retire?
  • What investments are right to help you reach these goals?
  • How much should you save to meet your retirement goal?

Reaching your retirement goals will require the same preparation and commitment. For over a century, life expectancy in the United States has been steadily increasing. This good news carries with it the burden of accumulating assets sufficient for an extended retirement. Of equal importance is the need to allocate assets and structure distributions to ensure they last as long as they are needed.

IRAs - Traditional, Roth, & Beneficiary

For example, although Traditional IRAs often allow tax-deductible contributions and offer tax-deferred earnings, Roth IRAs allow earnings to be withdrawn tax-free after age 59-1/2, provided the account has been open at least five years. Both allow annual contributions of $5,500 with catch-up provisions of $1,000 for those older than age 50 and make available a broad choice of investment vehicles. 

Plus, both Traditional and Roth IRAs offer a certain degree of flexibility in case you need to interrupt your savings to fund specified expenses, such as purchasing a first home or funding a child’s education. Roth IRAs must be open at least five years prior to withdrawals being taken, and normal tax rates will apply for withdrawals from Traditional IRAs.

A more specialized option, Rollover accounts are used strictly to convert funds from qualified retirement or pension plans without assuming current tax liability. With so many choices, choosing the right IRA for your needs takes careful research and consideration.

Employer Sponsored Plans

Whether it’s a SEP or SIMPLE IRA, a 401(k), or a defined benefit plan, many employers offer some sort of qualified retirement plan. Contributing to these plans can be a great way to set aside pre-tax dollars for retirement. Even if you are the sole proprietor in your own business, an Individual (k) may be a useful way to save for the future while taking advantage of tax benefits today.

Although you may not have a choice about the type of retirement plan your employer offers, you can choose whether or not and how to invest in these plans. Each plan has a range of investment options and distribution considerations you’ll want to keep in mind when choosing the right plan for you. Selecting the proper investments, wisely allocating your assets, making decisions about withdrawals and required minimum distributions, and choosing what to do with plan assets when you change jobs can all be daunting tasks that are best undertaken with professional guidance.


Variable annuities are long-term, tax-deferred investment vehicles designed to create a retirement income stream for life.

They contain both an investment and insurance component and provide tax-deferred growth, access to professionally managed investment portfolios, death benefits and flexible withdrawal options. Variable annuities are sold only by prospectus, and guarantees are based on the claims-paying ability of the issuer. 

As a means of delivering retirement income, variable annuities provide a unique advantage: They allow you to invest in equity markets with insurance features called “living benefits,” which are optional features available for an additional fee on annuity contracts that can offer protected lifetime income. There are different types of living benefits available that can offer income, the return of principal or both. Some specialize in providing immediate income, while others are designed to provide you with distributions at a later date.

Additional Investment Vehicles

Your financial consultant has access to a broad array of investment products such as mutual funds, annuities, individual stocks and bonds, or separately managed accounts from independent money managers. Individually, or in conjunction with other retirement accounts, these investment solutions may offer you additional avenues to reach your retirement accumulation and distribution goals.

And while the options are numerous and the choices potentially confusing, your financial consultant has the knowledge to help you sort through the benefits and limitations of each.

The most important thing you can do to secure your own financial future is to start planning today.

Your financial consultant knows the questions to ask and can help determine what you need. Why wait? Schedule a free, no-obligation appointment today.

To start your conversation about retirement planning or to learn more about these and other investment options contact [email protected] (Oregon), [email protected] (Byron), or [email protected] (Byron). 

Set Up An Appointment

To best serve you, Byron Financial Services has two offices that have full or part-time investment representatives.

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Byron Financial Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Byron Financial Services, and may also be employees of Byron Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Byron Bank or Byron Financial Services. The Byron Financial Services site is designed for U.S. residents only. The services offered within this site are offered exclusively through our U.S. registered representatives. LPL Financial registered representatives associated with this site may only discuss and/or transact securities business with residents of the follow states: AR, AZ, CA, CO, FL, GA, ID, IL, MD, MN, MO, NC, NV, OR, SC, TN, UT, WA, WI, and WY. Securities and insurance offered through LPL or its affiliates are: