Dream. Plan. Live.
Retirement planning can be one of the most stressful concerns for most Americans. Recent studies show that the average American has just over $100,000 in retirement savings while many rely solely on Social Security. Even “America’s 1%” with multi-million dollar portfolios are concerned about outliving their money and Long-Term Care.
We can help you establish reasonable goals and expectations for your retirement years no matter what your current situation is.
- Dream about the retirement life you want
- Plan your retirement strategy
- Live and sleep better with a written Retirement Plan as your roadmap
With our experience and analytic tools, including Monte Carlo simulation, we can help address some of the most common questions that persist in people’s minds:
- Will I have enough monthly income to meet my monthly expenses?
- How do I maximize my Social Security?
- How do I pay for emergencies or other unplanned expenses?
- Will my retirement nest egg last throughout my lifetime?
- What is the impact of the SECURE Act on me and my heirs?
- How do I fund Long-Term Care?
- What will my tax situation be?
- (for Blended Families) How do I protect my children if I’m the first to die?
Whether you have a $100,000 or multi-million dollar portfolio, we can help answer these questions with a personalized written Plan. With a written Plan you will have a roadmap to follow, be much better prepared for any curveballs, and have realistic goals with a strategy. The result is you can live your life with a certain peace of mind.
We offer two types of Retirement Planning services, based on age group. Those pre-55 are in the what I call “accumulation” mode of retirement planning – accumulating assets. Those post-55 are generally thinking about retiring in 5-10 years and have a whole host of different analyses that need to be performed.
Pre-55 age group
If you are in this age group, you are in the accumulation phase of retirement planning. We can help you answer the above questions by running various scenarios and projections. We’ll look at potential retirement expenses and potential income from Social Security, pensions, retirement funds, and any other assets you may have.
This is a great service to look at different retirement ages, spending levels, portfolio returns, etc. and project your probability of success in each of the scenarios. We factor in life expectancy, risk tolerance, and inflation.
55+ age group
This is often called the de-accumulation phase of retirement planning. This is time to get serious about retirement planning with realistic goals, expectations and make any final adjustments needed to make your retirement plan a reality. We use the same scenario-based analysis, but with emphasis on the de-accumulation of assets.
Often overlooked is the most effective tax strategy for the spend-down of your assets in your retirement years. It makes a difference on what assets you spend first to minimize your tax liability. With the help of our powerful Planning software, we can help you make the most tax-effective use of your retirement assets.
As one approaches retirement, there are many risks. Some of the most common and most serious include:
- Sequence of Returns – This is the term used for when the stock market takes a serious correction or enters a bear market just before or during the first couple years of retirement
- Longevity – Running out of money too early
- Cash Flow – Dipping into long-term assets to make essential monthly payments may curtail your long-term investment goals, such as LTC
There are many other risks such as inflation, Social Security stability, and tax rates. All of these get factored into a “Stress Test” of your Retirement Plan projections.
Our Risk Mitigation Strategy
To help protect against market downturns as realistically as possible, we generally propose a “3-Bucket Strategy” for retirement planning:
- Income bucket to meet your monthly expenses
- Reserve bucket for emergencies and short-term cash “buffer”
- Investment bucket for your long-term expenses, such as Long-Term Care
If you would like to learn more about the age 55+ de-accumulation phase of retirement planning, you may read through our “Insight” articles and download two complimentary PDF publications found below toward the bottom of this page.
Personalized Retirement Planning
The bottom line is, you have worked hard for the money you have and you want the best retirement that you can afford. Everyone’s situation is completely different. Our job is to navigate the complexity of retirement planning for you, show you various retirement scenarios, and make recommendations so you can have the best lifestyle possible.
This service offering will provide you with a written Plan with the various scenarios, recommendations, and an action plan for the implementation of the Plan. Similar to our financial planning services, your final Plan is available to you in a high-quality binder and also in electronic format for easy online access.
Related “Insight” Articles
- Main Pillars of Retirement Planning – Retirement Planning is more than just investing your portfolio. This article discusses more depth on 7 main pillars considered for a stable retirement.
- SECURE Act – The SECURE Act of 2019, effective Jan 1, 2020, had many significant changes that effect your retirement planning, especially for your heirs.
- Retirement Tax Planning – Read about tax-efficient withdrawal strategies, Roth Conversions, and see a short demo on how our Planning Software can help you visualize different scenarios.
Relevant Retirement Planning PDF Publications
These complimentary PDFs are a deeper dive for those that are interested in this topic. Simply click on the images below to download to your computer.
“Engineering Your Retirement Plan” is a very detailed guide to developing a solid de-accumulation retirement plan. Designed for the engineer or technically-minded individual or do-it-yourselfer. (55 +)
“Successful Aging” workbook for you and your spouse to work on together to help you determine your Retirement “Readiness.” (55 +)
Valuable Social Security Resources
- Social Security Retirement Planner – Estimate your benefits, apply for benefits and a host of other information
- Social Security Reform – Read up on various proposals to keep Social Security solvent
- Working While on Social Security – How Working Affects Your Benefits