Retirement Planning:­ What You'll Need

The goal of retirement income planning is very simple: to increase the probability that your family will not run out of money after you stop working at your full time job – in other words, that you will be able to fund your basic living and discretionary expenses – and, should you desire, be able to finance any specific consumption goals or support for your extended family or community.

To achieve this goal, we work with you to help:

  • Eliminate obstacles that might force you to have to go back to work after you retire
  • Maintain your retirement standard of living even as inflation reduces purchasing power
  • Prevent income taxes from reducing your retirement income
  • Maintain sufficient income for your spouse in the event you predecease him or her
  • Minimize the effects that market volatility will have on your retirement income
  • Generate a long term care plan to reduce the burden on children and diminish the impact that the high costs of care will have on retirement income
  • Create enough resources to ensure that your family can obtain sufficient health care
  • Understand the best time to start social security payments, the impact that working while taking payments has and how to minimize income taxes on benefits
  • Potentially maximize your pension income (if any) by knowing when to start payments and what payout option to choose.

Financial independence during retirement is a goal that many of us desire but rarely plan for adequately. We can estimate what you need to maintain your current lifestyle at retirement. Any company-sponsored retirement plans, individual retirement accounts, savings accounts, and other sources of income are evaluated. Then, an effective, step-by-step strategy is determined, taking advantage of current tax laws and suitable investment vehicles. Creating a strategy can help set the stage for a comfortable retirement.

Five Essential Planning Steps:

  1. Establish Your Objectives
  2. Determine Your Investment Style
  3. Evaluate Investments
  4. Choose an Appropriate Investment Plan
  5. Execute and Periodically Examine the Plan