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Retirement Planning

Your Retirement Planning Guide

Retirement planning is a complex process that happens over decades. It doesn’t end with retirement, because that’s when you have to plan your income to ensure you don’t run out of money. Our financial advisors are here to help you with every aspect of retirement planning. We want to give you confidence and clarity about your retirement plans, so you can focus on the things that are most important to you. 

It starts with creating a retirement plan, setting up retirement accounts, and managing your distributions and assets inside your investment portfolio. Our team is here to help you pursue maximum returns on your investments by using active risk management strategies and aligning your asset selection with your objectives. We’ll also help you manage your retirement distributions, providing a stable income and being strategic about your tax obligations.

Preparing for retirement

It takes decades to save and invest enough to retire comfortably. The sooner you prepare for retirement, the more you can take advantage of compound interest to maximize your earnings. But even if you’re starting later, you can still build a significant nest egg by using a tax-deferred retirement plan. Our financial advisors are ready to help you select the retirement plan that works for you and select the assets that fit into your financial plan.

Creating a reliable income during retirement

During the retirement years, the challenge is to create a reliable income. An income distribution plan is necessary if you want to avoid outliving your wealth. You may receive income from your 401(k), 403(b), IRA, private investment accounts, and Social Security. We can even help you create a fixed income, much like a paycheck, by purchasing annuities for you to help you budget for your living expenses.

Financial planning for your retirement years

Our financial advisors can help you with planning for your retirement years. Your retirement plan is not set in stone. Instead, think of it more as a living document. Here are some processes we include in retirement planning:

  • Improving and tracking the success rate of your plan
  • Turning your retirement savings into a reliable paycheck
  • Developing a cohesive investment strategy to reduce risk and improve returns
  • Ongoing tax planning to reduce your tax bill
  • Aligning all the moving parts of your financial life to create a successful retirement

Retirement planning doesn’t have to be complicated for you. Our retirement planners use advanced financial planning software to build your plan, track its success rate, adjust for life’s unknowns, and communicate the results with you in plain English.

FAQs about retirement planning

How can I get a steady income during retirement?

You don’t want to withdraw from your retirement accounts whenever you need money. Instead, we recommend creating an income distribution plan to help you preserve more of your wealth and avoid running out of money. You can use annuities to create a stable income during retirement. An annuity provides you with a fixed income, much like a paycheck, and allows you to budget for your expenses.

Is my retirement income taxable?

Most retirement income is taxable. Withdrawals from traditional employer-sponsored plans, income from IRAs, and even Social Security benefits can be taxable, depending on your gross income. If you have Roth accounts, you can receive tax-free income. You can also supplement your income with your private savings, which is not taxable except for the interest you earn on the savings account.

How can I avoid running out of money in retirement?

o avoid running out of money in retirement, you must have a distribution plan. We recommend using annuities to provide a fixed income during retirement, allowing you to budget for expenses and leave your remaining retirement funds to appreciate. At the very least, you need to know how much you can withdraw each year to ensure your savings last throughout your retirement years.

It’s time to prioritize your retirement planning

We know your retirement plan will change as your financial priorities shift over the years. But it’s important to have a retirement plan and prioritize preparing for your financial future. We’re here to help you pursue your financial goals of a prosperous retirement. Schedule an appointment today and prioritize your retirement plan.We want you to have the best possible financial future, which is why we’re here to help you create a customized plan that allows you to protect and build your wealth. It takes time to reach your financial goals, but the sooner you have a comprehensive personalized plan, the easier it will be to pursue what you want. Schedule an appointment to create a financial plan for you.