Retirement planning involves an analysis of the various choices you can make today to help provide for your financial future.
To make appropriate choices, you need to estimate – as well as you can – your future economic circumstances. You will also need to establish your post-retirement goals. When you have determined how much of an income stream you will likely require in the future, you will be in a position to make wise choices now about income, saving, investments, and employer-sponsored (or other) retirement plans.
How long will you work? How long will you save? How long will you spend (live)? When should I start Social Security and other pension benefits?
What risk level is appropriate? What return is reasonable to expect? How do maximize my after-tax returns? What portfolio structure will deliver the right balance of risk/return?
Is my saving amount adequate? Is my nest egg sufficient to retire? What withdrawal (spending) range is appropriate? What is the most efficient way (considering risk/return considerations and taxes) to draw from my various retirement accounts (i.e. IRAs, Trusts, Roth IRAs, etc.) to generate a monthly cash flow? Can I afford to gift large amounts of money (family or charity) during my lifetime? Is leaving a large estate a priority?
Planning methods may be different for employees and executives than for business owners. And no matter whom you are, you will want to gain some familiarity with life insurance, the Social Security system, and with post-retirement health care insurance coverage, including Medicare and long-term care (LTC) insurance. Traditionally retirement planning has included two distinct phases, accumulation and distribution, each having its own unique challenges. The challenge for accumulators is to define and build an adequate nest egg. With the aging of the Baby Boom generation, the traditional concept of retirement is being redefined, and often includes a period of part time work. Many retirees will spend more years retired than they spent in the work force. The challenge for retirees is to make that nest egg last forever, and to structure distributions appropriately. Retirement planning is different for everyone because we each have unique priorities, strengths, and weaknesses. Whatever your circumstances might be, retirement planning can help you take control of your own future.
Once you contact us, we advise you on the proper retirement strategies and provide solutions to help lower your income tax liability.
This may take up to two meetings, with the first meeting being a fact-finding interview and the second meeting focusing on the presentation of the strategies.Contact Us