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Retirement Planning

For many people, planning for a time when work is optional is their most important concern.

We collaborate with our clients using our intuitive, dynamic modeling software to develop a sound retirement plan.

We help you answer questions like:

  • How much will I need to be financially independent?
  • What steps can I take to make my retirement or financial independence more secure?
  • Are we making the right decisions with our money?
  • Am I maximizing my distributions?  What's the most tax efficient way to structure my monthly income needs?
  • What if the market goes down 20% in your first year of retirement?  How will your portfolio recover?

Our experience and tools help create your plan while our software lets you visualize the impact of your choices.

Planning for retirement is not a task that should be taken lightly. There is no one right way to do it. It is an essential process in which one determines realistic goals for their retirement income needs and decides what actions need to be taken to achieve the goals set out. Retirement planning includes many steps such as identifying potential income sources, evaluating expenses, creating a savings plan, managing assets, and determining risk level. The process of retirement planning is geared towards removing stressors and bringing individuals peace of mind. When you reach retirement age, you should focus on what you’re going to do to enjoy the rest of your life, not where your income is coming from. A retirement planner works with individuals to ensure that their retirement plan is strategically mapped out and simple to execute.

Basics of Retirement Planning

  • Save – An obvious component of retirement planning basics is to save. Now, while it is smart to save in a standard savings account for general purposes, your retirement savings should be explicitly allocated to a retirement savings account to make the most out of your retirement savings funds. Retirement savings accounts allow your money to grow in a tax-efficient way.

  • Get-to-Know Your Needs – A key component in retirement planning is knowing and understanding what your income needs will be when you reach retirement. This is one
    reason why it is so important to plan. If you have everything mapped out ahead of time, it is easier to make sound financial decisions during retirement.

  • Maximize Contributions – If your employer offers a retirement account(s), take advantage of it. Maximize your contributions. Many employers will match a percentage
    of employee contributions to employer-sponsored retirement plans.

  • Decide if you should contribute to a Roth option or traditional 401(k)

  • Apply Basic Principles – Learn about and apply basic investment principles. Your retirement financial planner is an asset, but you should know what’s what when it comes
    to your retirement planning.

Retirement Plans

There are many kinds of retirement plans and retirement accounts out there. From employer-sponsored retirement accounts such as a 401(k) to individually owned retirement accounts such as an IRA, things can get a bit tricky to navigate. Here are some basics about some of the most discussed plans:

  • 401(k) – An employer-sponsored retirement savings plan.
  • 403(b) – Non-profit and tax-exempt organizations generally qualify for these retirement savings plans that are like a 401 (k).
  • IRA – An Individual Retirement Account is for those who have an earned income. There are many kinds of IRAs.
  • Roth IRA – A Roth IRA is different than a traditional IRA. The key differences are in the tax features. Contributions to a Roth IRA are taxed, so when qualified withdrawals are
    made at retirement, they are then considered tax-free.
  • Traditional IRA – Contributions made to a traditional IRA are pre-tax. This means that taxes are due upon withdrawal.

Retirement Planner

If you are close or already in retirement, you have to focus on your income. But how do you get the income you need while protecting assets for the early years of your retirement. Our NextPhase process allows us to maximize your returns while minimizing the risk of you running out of money.

We’ll also use bond ladders and/or annuities to provide enough income to cover your fixed expenses.

We’ll consider holdings management, investment taxable gains, and more to provide a tax-efficient framework to generate your income in retirement.

Call us today to start building out your plan! Let us help you See your Future!

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