Retirement

The ideal retirement doesn't happen by chance.

We focus on growing your wealth through financial planning, tax savings, and legal estate documents

Our comprehensive approach secures your retirement through life twists and turns

Our comprehensive approach secures your retirement through life twists and turns

FREQUENTLY ASKED QUESTIONS

Analysts recommend a retirement income of 80% of your final employment income. The average retirement household income is about $48,000 before taxes and spends about $46,000 per year. The average social security income in retirement is about $40,000 per year. During your free consultation we’ll determine your ideal retirement income and begin designing a plan to position you to achieve it.

You can begin taking social security benefits as early as age 62 (or earlier if you’re the survivor of another social security claimant, or on disability). You can wait until as late as age 70. You only get maximum social security payments if you wait until full retirement age (FRA). FRA varies between age 66 and 67 for people born after 1954. If you begin taking benefits at age 62 your payments will be smaller than if you waited until FRA. During your free consultation we’ll employ our state of the art tools to determine which year you should begin taking benefits for the highest payout.

Diversify retirement income sources between social security, pensions, rentals, brokerage accounts, savings accounts, bonds, and more. Reduce your expenses. Pay off your mortgage before retirement. Maximize dividend income and stay below the 15% capital gains tax threshold. Keep IRA and 401K withdrawals low. When we meet we’ll discuss how best to structure your retirement plan to maximize tax savings.

Update your property title, and the beneficiary information for your IRA, retirement plan, and insurance policy. Make sure family members know how to access your important paperwork. Gather documentation for your will, trust, and power of attorney into a single file. During our free consultation we’ll go over your estate, review your legal documents and, if you don’t already have estate paperwork in order, we’ll help you begin the process of creating a will, a trust, and other important estate documents.

Review your 401K payout policy and create an income stream (retirement paycheck) from your savings. Take note of 401K fees and consider rolling it over into a fee-free IRA. Assess all your retirement income strategies. During our free consultation, we’ll transfer your retirement accounts (401k, 403b, TSP) into an IRA. We don’t charge any fees for the service. 

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