Secure Your Retirement
We create holistic financial plans designed to help with the five critical components of retirement planning.
Social Security Planning
We’ll help you determine the optimal time to start receiving Social Security benefits and guide you through coordinating any available spousal, divorced spouse, or survivor benefits with your own.
To create the most effective strategy, we consider how your Social Security benefits will interact with other income sources. We also take into account your family’s longevity and your current health to ensure a personalized approach.
By evaluating your complete financial picture, we can develop a claiming strategy that maximizes your income and minimizes your tax burden.
Retirement Income & Investment planning
Once your paycheck stops, we help transform your hard-earned savings into a reliable income stream. While investment returns remain important, the focus shifts to reducing volatility through a well-diversified asset portfolio, typically including traditional investments like stocks, bonds, mutual funds, and ETFs.
In addition, we incorporate fixed annuities, which offer protection and guarantees against market losses, as well as the risk of outliving your savings. Similar to Social Security or a pension, annuities can provide a guaranteed income for life.
Since different income sources are taxed in varying ways, we develop a coordinated withdrawal strategy to help minimize your tax liability while maximizing your retirement income.
Tax Planning
Tax filing and tax planning are two distinct processes. Tax filing looks backward, focusing on reporting income and expenses for the previous year. In contrast, tax planning looks forward, aiming to minimize your tax burden throughout retirement.
Are you holding the right investments in each account? When should you withdraw from your taxable, tax-deferred, and tax-free accounts? Can you reduce or eliminate taxes on your Social Security income? Is a Roth conversion strategy right for you?
These are just a few of the important considerations we address as part of a comprehensive plan.
Healthcare Planning
Healthcare costs have been rising at a rate faster than overall inflation, making it essential to have a strategy for managing these expenses in retirement.
When it comes to Medicare, there are key decisions to make. First, you need to know when to enroll to avoid penalties. Then, you must choose between a Medicare Supplement plan or a Medicare Advantage plan—understanding the differences is crucial in selecting the option that best fits your needs.
Additionally, it’s important to note that Medicare does not cover long-term care costs. Planning ahead for how to handle these potential expenses is a critical component of a successful retirement strategy.
Legacy & Estate Planning
Legacy and estate planning involves deciding who will inherit your assets after you pass away and how your affairs should be managed if you become unable to handle them yourself. We’ll collaborate with you and your attorney—or recommend one if needed—to ensure your estate documents align with your wishes.
We’ll also review any life insurance needs, which can be important even in retirement. For example, if you pass away, would your spouse face financial hardship?
When one spouse dies, the surviving spouse loses one Social Security benefit. If your other assets can replace this income, life insurance may not be necessary. However, if you wish to leave a legacy to children, grandchildren, or a charity, life insurance can be a useful tool.
