Retirement Planning FAQs

There is no universal retirement number that works for everyone. The amount you may need depends on your expected spending, lifestyle goals, healthcare costs, taxes, income sources, and how long retirement may last.

At Kastler Financial Planning, we help clients answer this question through a personalized retirement planning process rather than relying on generic rules of thumb. We evaluate current spending, expected retirement expenses, Social Security, pensions if applicable, portfolio withdrawals, taxes, and long-term planning needs. From there, we build retirement projections to help you understand what may be possible and what adjustments may strengthen your plan.
The goal is not just to identify a number. The goal is to help you understand how your resources may support the retirement life you want to live.

The answer depends on more than age alone. Your retirement timing may depend on savings, expected retirement spending, Social Security timing, healthcare coverage, taxes, and income strategy.

At Kastler Financial Planning, we use our 7 Pillars Retirement Planning® framework to evaluate retirement timing within the context of your full financial picture. We model different scenarios so you can better understand tradeoffs and make a more informed retirement decision.
For many people, the better question is not only “When can I retire?” but “When can I retire with confidence?”  Our retirement planning videos will show you the capabilities to answer this and many other questions.

Retirement income is created through a coordinated strategy designed to turn your available resources into ongoing cash flow.

Your retirement paycheck may include Social Security, pensions, required minimum distributions, portfolio withdrawals, cash reserves, dividends, interest, and other available income sources. The goal is to support your lifestyle while taking taxes, market conditions, and long-term sustainability into account.

At Kastler Financial Planning, retirement income planning is a core part of the planning process. We help clients design a structured retirement paycheck within the context of a broader written retirement plan rather than treating withdrawals as isolated decisions.

There is no one-size-fits-all answer to Social Security timing.

The right time to claim Social Security may depend on your health, longevity expectations, marital situation, other income sources, tax considerations, and how Social Security fits into your broader retirement income plan.

For some people, claiming earlier may make sense. For others, delaying may improve lifetime income or strengthen survivor benefits. At Kastler Financial Planning, we evaluate Social Security timing within the context of your full retirement income planning so the decision supports your long-term goals rather than only a short-term preference.

Retirement investing is often different from pre-retirement investing because the portfolio may now need to support withdrawals, provide flexibility, and help manage volatility over time.
That means investment decisions should reflect more than growth alone. They should also consider income needs, risk tolerance, risk capacity, time horizon, tax considerations, and how the portfolio fits into your broader retirement plan.

At Kastler Financial Planning, a portfolio design for retirement is guided by our 7 Pillars Investment Planning® framework. For some clients, implementation may include 7 Pillars Purpose-Driven Portfolios™, including a broadly diversified Core and selected Satellite strategies where appropriate. The goal is not speculation. The goal is thoughtful portfolio design aligned with your retirement needs, goals, values, and purpose.

Market declines are one of the major risks retirees need to plan for, especially early in retirement when withdrawals may magnify the effect of volatility.

That is one reason retirement planning should include more than investment selection alone. A thoughtful retirement plan considers income sources, cash reserves, withdrawal strategy, diversification, tax flexibility, and the role the portfolio design plays in supporting your retirement paycheck.

At Kastler Financial Planning, we help clients build retirement plans designed with market uncertainty in mind. The goal is not to predict the market. The goal is to help create a plan that can respond thoughtfully when markets become difficult.

It depends. For some households, paying off the mortgage before retirement may reduce fixed expenses and create greater peace of mind. For others, keeping the mortgage may preserve liquidity or allow assets to be used more effectively elsewhere.

The decision often depends on interest rate, cash flow, tax considerations, portfolio resources, and personal comfort. At Kastler Financial Planning, we help clients evaluate this question within the broader retirement plan so the answer fits both the numbers and the household’s priorities.

Taxes can significantly affect how much of your retirement income you actually keep.
Retirement often involves income from multiple sources, each with different tax treatment. Withdrawals from IRAs, Roth accounts, brokerage accounts, Social Security income, and required minimum distributions can all affect your tax picture in different ways.

At Kastler Financial Planning, we help clients evaluate retirement tax planning as part of the broader planning process. That may include withdrawal sequencing, Roth conversion analysis, future RMD considerations, and how tax decisions interact with Social Security, Medicare-related costs, and retirement cash flow. We do not prepare tax returns, but we do help clients think proactively about tax-related planning decisions.

Healthcare can be one of the more difficult retirement expenses to estimate, but it should not be ignored.

Planning may include Medicare decisions, supplemental coverage, out-of-pocket costs, prescription needs, and the possible long-term financial effect of future care expenses. These decisions can affect both your budget and your peace of mind.

At Kastler Financial Planning, healthcare planning is one of the seven pillars of retirement planning. We help clients think through Medicare-related choices and broader healthcare cost considerations so this part of the plan is addressed thoughtfully.

New laws go into effect on July 1, 2026.  New loan caps and repayment schedules are set to take into affect.  We will handle the new laws in the same way we did previously–analyzing repayment strategies as a separate analysis workflow and then integrating the results into your retirement plan to see the affect of the new laws.

Many retirees face the “sandwich generation” squeeze.  We help you balance generosity with financial prudence by modeling scenarios that show the long-term impact of providing family support.  Together, we build flexible plans that protect your future while honoring your family values.

Widowhood often brings both emotional and financial change. In addition to navigating loss, there may be important planning decisions involving income, Social Security, taxes, beneficiary updates, asset ownership, estate documents, and long-term retirement security.

At Kastler Financial Planning, we approach these situations with patience, clarity, and personal care. We help review the financial issues that may need attention and work to ensure your retirement plan reflects your current reality, future goals, and the decisions that now rest with you.

For women navigating retirement transitions, including widowhood, our planning process is designed to provide thoughtful guidance without product pressure or sales incentives.

This is one of the most important retirement questions, even though it is often overlooked.

A successful retirement is not only about finances. It is also about purpose, relationships, health, contribution, and how you want to live in the years ahead. Financial planning can support retirement, but it should also serve a bigger vision for life.

That is one reason the Retirement Profiler matters so much at Kastler Financial Planning. We want financial planning to support your retirement vision, and the lifestyle you hope to live. The financial planning and retirement projections are important, but it all starts with our “Planning First” philosophy. We hope to create a retirement plan that provides a retirement lived with greater intention, meaning, and alignment with what matters most to you.

For many Christians, retirement planning is about more than reaching a financial number. It can also raise deeper questions about stewardship, purpose, generosity, family, service, and the kind of life this next season is meant to support.

A Christian perspective does not remove the need for careful financial planning. Instead, it can deepen the reason for planning. Income, investments, taxes, healthcare, risk, and legacy decisions may all be considered in light of what has been entrusted to you and how those resources can be used wisely.

At Kastler Financial Planning, our professional planning process remains grounded in fiduciary advice, careful analysis, and the 7 Pillars Retirement Planning® framework. For clients who desire a Christian perspective, planning conversations may also include reflection on stewardship, calling, generosity, purpose, and legacy.

To explore this further, you may read our Insight Article, Retirement Reconsidered: A Biblical View of Old Age, Purpose, and Stewardship and be sure to visit our Faith-Based Resource Center

Kastler Financial Planning is built around a planning-first approach to retirement.

We are fee-only, fiduciary, and independent. That means our advice is not tied to commissions, product sales, or the limitations of a brokerage or insurance platform. We believe thoughtful retirement planning should begin with understanding your goals, values, and overall financial picture before recommendations are made.

We are also a boutique firm by design. That allows for a more personal relationship, a more thoughtful planning process, and a written retirement plan built around your needs rather than a one-size-fits-all approach. Read more about how we got started at our About Kastler Financial Planning page.

I am Mike Kastler, founder, owner and Advisor at Kastler Financial Planning.  I took a very unique approach when I decided to make a career transition from IT to Financial Services.  Firstly, I wanted to be well educated before I ever spoke to a client, so I pursued a Master of Science in Finance.  Upon graduating in 2015, I started Kastler Financial Planning with the intention to be fee-only, non-commission, fiduciary financial planner. 

I then pursued the licensing exams in Michigan to perform Advisory services.  Additionally, I have gained the Retirement Income Certified Professional® designation and continue to pursue continuing education.  I will tell you more at my Meet Mike Kastler page.

Advisor fees can have a meaningful effect on retirement, especially when your portfolio may be supporting income rather than simply growing for the future.

Kastler Financial Planning uses a flat-fee, transparent pricing model rather than an assets-under-management percentage fee tied to portfolio size. We believe clients should clearly understand the services they are receiving and the cost of those services.

Because we are fee-only, we do not receive commissions from product sales. Our goal is to provide retirement planning and ongoing support in a way that is clear, transparent, and aligned with a fiduciary standard of care.  See our service modules and pricing page to view the transparant flat-fee tiered pricing schedule. 

The 7 Pillars Retirement Planning® framework is our retirement planning services framework for helping clients think through the major areas that can affect retirement success. Retirement decisions are interwoven, as one decision often impacts many other decisions.

The seven areas are income planning, investment planning, tax planning, risk analysis, health and healthcare planning, long-term care planning, and estate and legacy planning. We believe retirement planning works best when these areas are considered together rather than separately.

The purpose of the framework is to help create a more complete, coordinated, and thoughtful retirement plan.