Pre-retirees
Goal Clarification and Prioritization:
Help to clearly define your desired retirement lifestyle (travel, hobbies, etc.) and translate those dreams into concrete financial goals.
Work with you to prioritize these goals, considering factors like desired retirement age and projected expenses.
Retirement Income Planning:
Analyze your current retirement savings (401(k), IRAs)
Explore options for maximizing contributions to retirement accounts, taking advantage of catch-up provisions if eligible.
Advise on Social Security claiming strategies to optimize your benefits.
Investment Strategy Review:
Evaluate your current investment portfolio and risk tolerance.
Recommend adjustments to your asset allocation, potentially shifting towards a more conservative mix as you near retirement.
Develop strategies to help manage investment risk and potential market fluctuations.
Tax Planning Strategies:
Explore tax-efficient strategies in retirement. This could involve Roth conversions or maximizing tax-advantaged accounts.
Help you anticipate tax implications of different retirement income sources.
Debt Management:
Develop a plan to pay off high-interest debt (credit card debt) prior to retirement, creating a more secure financial foundation.
Advise on managing any remaining debt (mortgages) in a way that is comfortable within your retirement budget.
Healthcare Planning:
Discuss potential healthcare costs in retirement and strategies for managing them (Medicare, supplemental insurance).
Help you factor these costs into your overall retirement planning.
Estate Planning Strategies:
Ensure you have a will and power of attorney in place.
Discuss options for minimizing estate taxes and efficiently passing on wealth to beneficiaries.
Beyond the Numbers:
Offer emotional support and guidance as you navigate the psychological transition towards retirement.
Help you address any anxieties or uncertainties related to your financial future.
Ongoing Support:
Regularly review and adjust your plan as your circumstances and market conditions evolve.
Provide ongoing guidance and answer questions that may arise throughout your pre-retirement and retirement journey.
