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Transitioning into retirement comes with all sorts of questions and opportunities to maximize your financial situation. Common strategies we often help answer and implement with clients include:
We focus on educating you on topics that apply specifically to retirees, this includes:
We help to coordinate your financial plan:
We also work with your tax adviser to help implement tax efficient strategies including:
Investing in retirement is different than investing in your younger years. You are going from a phase of accumulation to a phase of distribution and this takes a different investment approach:
Retirement planning doesn’t end when your retirement starts. You’ve now moved on from the accumulation phase to the distribution phase, which means you need to plan for your income needs carefully. Our retirement planner can assist you with maximizing your retirement income, managing your tax burden, and even setting you up with a fixed income stream for your retirement years.
During retirement, the goal is to avoid outliving your wealth. If you withdraw money from your retirement accounts without a clear distribution plan, this may happen sooner than later. Our retirement specialist can help you with your lifetime income planning to ensure you can enjoy your retirement without worrying about your financial future.
How Can I Reduce Income Taxes in Retirement?There are different options for maximizing your retirement income. For example, you can wait to file for Social Security benefits until you’re closer to age 70 to increase the benefit amount. It’s also important to plan your income in a way that reduces your tax burden. Talk to our financial advisor to create a personalized strategy to maximize your retirement income.
How Can I Maximize My Retirement Income?There are different options for maximizing your retirement income. For example, you can wait to file for Social Security benefits until you’re closer to age 70 to increase the benefit amount. It’s also important to plan your income in a way that reduces your tax burden. Talk to our financial advisors to create a personalized strategy to maximize your retirement income.
Can I Get a Fixed Income in Retirement?Yes, it’s possible to receive a fixed income as a retiree. You can purchase annuities to receive a regular income during your retirement, which can help you budget for your living expenses without worrying about outliving the savings in your retirement account. If you qualify for Social Security benefits, those payments are also a fixed amount every month.
Retirement planning is just as complex for retirees as saving for the future to prepare for retirement. But you don’t have to tackle this complicated process alone. Our retirement specialist are here to help you manage your distributions, minimize your taxes, and live your best life. Call us today to schedule an appointment and talk about your retirement needs.