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Retirement & Income Planning

As individuals and couples enter into retirement, they may experience a range of emotions, both with the financial aspects, and reaching their own personal goals for retirement.  We help our clients by creating comprehensive financial plans to determine if they can retire to the type of lifestyle they desire and that they may be able to maintain. Once we have determined what retirement will look like from a financial standpoint, the next item we assist them with is how to turn their hard-earned savings into income.  For many, the fear is that they have been receiving a guaranteed paycheck through their employer, and then turning their savings into guaranteed income during retirement. Some retirees will receive a pension in addition to social security and that will be sufficient. But others may not have that guaranteed income from a pension. For those that do not, we work with them to create what we call a “Bucket System” of income.  This involves creating several buckets of income:  Income for the present, that has very little to no risk; Income for between years three to ten, with medium risk; And finally, income for later, in which more risk may be taken.

In addition to the income planning, when creating a financial plan for our clients, we feel it is extremely important to stress test that plan for such things as: disability if you are still working; premature death; experiencing a long-term-care event, or an extended period of flat or negative stock market returns. We also examine the effect of potential tax increases in the future and whether it will be beneficial t convert some or all Pre-Tax retirement dollars to After-Tax or Roth.  And finally, we address estate planning that is essential for times when some might encounter the unexpected.  Is there a living will that is up-to-date?  What about Medical Powers-of-Attorney, along with HIPAA documents? Are they in place?

We feel that our client’s concerns should be “Where are we going on vacation this year?” or “Where are we going fishing with our grandkids?” not “Are we going to have enough money to do the things we want?” or “What will happen to our retirement if the stock market experiences a correction?”

Let us help you with retirement and income planning that can help you have the life you desire. 

Retirement Planning

Estate Planning

Insurance Planning

Risk Mitigation

Income Planning

Long-Term-Care Planning