As retirement nears, focus shifts from accumulation to preservation. With peak earnings and major expenses often behind you, this is the ideal time to fine-tune your retirement strategy and protect what you’ve built. These years are about transforming years of saving into a clear plan for the future. Our advisors assist clients in retirement readiness by projecting income needs, analyzing Social Security options, and refining investment allocations to prioritize stability over aggressive growth. We create tailored withdrawal and tax strategies to maximize retirement income and minimize surprises. Healthcare and long-term care planning also become essential, and we help clients prepare for these costs without disrupting their retirement goals. Whether you're finalizing mortgage payments, selling a business, or transitioning into semi-retirement, we ensure each decision strengthens your financial foundation for the years ahead.
Key Goals:
- Evaluate retirement readiness and income needs.
- Protect against major financial risks.
- Eliminate unnecessary debt and finalize estate plans.
Strategies for Success:
- Retirement Projections: Calculate estimated income sources (401(k), pensions, Social Security) versus expected expenses. Adjust saving rates if necessary.
- Catch-Up Contributions: Individuals over 50 can contribute extra to retirement accounts. Take advantage of these higher limits.
- Investment Adjustments: Gradually reduce portfolio risk. Emphasize stability and income generation over aggressive growth.
- Insurance Planning: Consider long-term care coverage and umbrella policies to protect against unforeseen events.
- Debt-Free Goal: Enter retirement without high-interest debt, freeing more income for living and travel goals.
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