Retirement

"Most people don't plan to fail, they fail to plan." – John L. Beckley

The definition for retirement is an ever-evolving one. What it meant to the previous generation is definitely different than what it means to the millions of baby boomers currently on the threshold of retirement, or even to someone from Generation X or Y. Consequently as retirement experts, our team addresses the retirement concerns of clients of all ages. We have extensive knowledge of and are able to advise them on key issues, which may include:

Asset Accumulation and Preservation: Personal savings is increasingly becoming the largest portion of the retirement income pie. We guide clients through the build up and then eventual draw down of their assets in order to maximize the amount of income available in retirement.

Income Replacement: Traditional sources of retirement income, such as Social Security, pension benefits and retirement savings, are an important factor of your retirement plan. How to calculate their worth and determine when it is best to receive these income streams are some of the decisions we help clients make on this front.

Healthcare: It’s an unfortunate fact of life that as you age, your health can become more of an issue. We stay up-to-date on the latest legislation affecting programs like Medicare and Medicaid, in order to best advise retirees on the most appropriate coverage. In addition, increased longevity increases the odds that long-term care may become an issue. We present the pros and cons of purchasing long-term care insurance vs. self-insurance to clients and guide them to the best decision for their circumstances.

Spirituality: Finding a purpose in retirement – whether it be reconnecting with family, volunteering, starting your own business, excelling at a hobby – can keep you motivated and connected to the world at large. We encourage clients to remember this vital aspect of living in retirement in order to enhance their experience.

A Lasting Legacy: Beyond their own personal needs, most retirees categorize being able to give back to those who meant something to them in life as a top priority. Recognizing this, we work with clients to ensure that rather than ending up in the government’s hands, their wealth is smoothly transferred where it was intended to go.

As much as the definition of retirement has been transformed over the years, one thing has remained a constant – the need to plan for and eventually generate the funds to live on after your regular paycheck stops. As a result, we focus on this vital retirement concern. We assist clients in answering the pertinent questions of, “do I have enough money to meet my retirement goal” and “with what I have when I do retire, how do I make sure it lasts throughout my lifetime”.