Financial Services

Work with a trusted advisor to protect and utilize your hard-earned assets

Financial Planning

One of the first steps in retirement planning is to evaluate your retirement accounts. Consider consulting with one of our financial planning partners who can assist you in assessing your current savings and investments, such as 401(k) plans, individual retirement accounts (IRAs), or pension funds. 

They can help you determine if your retirement savings are enough to cover your living expenses and if there are any additional investment opportunities to make your money work harder for you.

Another important aspect of retirement planning is managing your income and expenses. Many retired individuals rely on social security benefits as a significant source of income.

Understanding the intricacies of social security and maximizing your benefits is crucial. Be sure to read our latest articles on social security benefits and ask any questions you have during your initial consultation call.

Retirement planning should also involve considering any potential financial risks or challenges that may arise. This could include safeguarding yourself against financial abuse or exploitation.

Estate planning is one of the most important parts of creating a legacy plan. Choosing where your assets will go upon your passing as well as an explanation of your wishes will help ensure your heirs will receive the benefits you pass along to them.

Understanding all of the tax implications of your retirement assets is critical for ensuring you don't lose out on your retirement savings. Having a clear picture of your taxable asset situation is critical before you begin retirement.

Our team of financial planning partners can help you navigate this important phase of your life. With proper planning and informed decision-making, you can enjoy a fulfilling retirement while maintaining your financial well-being.

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Financial Resources

Tips for Later-Life Financial Security

When planning for later-life financial security you need to consider many different topics.

1) Budgeting and expense tracking - Creating a budget allows retirees to get a clear picture of their income and expenses, helping them make informed decisions about their spending and saving habits. By tracking their expenses and identifying areas where they may be overspending, retirees can better manage their financial resources and make necessary adjustments to stay within their means.

2) Making a plan for healthcare costs - Retirement can lasts decades. You need to have an asset management plan that will spans the next 30 years. You need to plan for things like healthcare costs, long-term care costs as well as protecting your spouse from financial hardship in the case of your passing. 

3) Work with an elder law attorney to create an estate plan. Estate planning involves creating legal documents that outline how an individual's assets should be distributed after their passing.

4) Legacy planning -This is a critical part of your retirement years. This includes creating a will, establishing a power of attorney, and setting up a living trust or other probate avoidance methods. Estate planning ensures that retirees' assets are distributed according to their wishes and helps minimize potential conflict among heirs.

Consult with one of our financial planning partners who specializes in retirement planning. They can help you make informed decisions about your investments, tax strategies, and overall financial plan. 

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How much will Long-Term Care cost you?

Long-Term Care, or "skilled nursing" care is expensive. Every retiree should know how much Long-Term Care could potentially cost so that you can be ready and not burden your family with additional financial responsibilities.

Your Financial Checklist

Taking some time to assess your retirement savings and make any necessary adjustments can help set you up for a secure and comfortable retirement.

Here are some key items to include in your checklist for your retirement plan. Click on each one to read more.

Nobody likes to create a budget, but having an idea of your expenses going into retirement is important.

With this information you can build a distribution strategy. Having this information ahead of time makes it easier to build a solid financial plan for your retirement years. 

Many retirement plans offer a variety of investment options, such as stocks, bonds, and mutual funds. Review your investments and consider rebalancing your portfolio if needed.

This involves adjusting the allocation of your investments to ensure that it aligns with your risk tolerance and retirement goals.

Consult with a financial advisor if you need assistance in determining the best investment strategy for your retirement plan.

Have there been any significant life changes that may impact your retirement plan? Perhaps you have experienced a job change, received an inheritance, or had a shift in your health or family situation.

It's important to factor in these changes and adjust your retirement plan accordingly. Make sure your retirement goals are realistic and achievable based on your current circumstances.

Review your account statements and assess how your investments have performed over the past year.

Are you satisfied with the returns?

If not, it may be time to explore other investment options or consult with a financial advisor.

Remember, investing for retirement is a long-term strategy, and short-term fluctuations should not deter you from your overall goals.

Life is unpredictable, and it's essential to ensure that your retirement assets will be distributed according to your wishes in the event of your passing.

Review and update your beneficiary designations to reflect any changes in your personal circumstances.

This simple step can provide peace of mind knowing that your loved ones will be taken care of.

What might work for one person may not work for you. 

Consult with our team of tax professional to maximize your tax strategy. Some of these options may include optimizing your HSA contributions, adjusting between Traditional or Roth IRA contributions and efficient management of taxable investment accounts.  

If you feel like you are behind on your retirement planning, now is the time to speak to one of our financial advisors. They can help by answering your questions and connecting you with the right professionals that can help you put a plan into action. 

Schedule a call with one of our financial planning partners today!

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Schedule a call today and download our Pre-Retirement Checklist.