Our goal is to help you create a tax-efficient retirement income plan that includes the necessities as well as the little luxuries that make life more enjoyable. Additionally, we need to understand the larger expenses you plan on making during retirement, such as that trip you’ve been waiting for, the downsizing of your current home, or maybe even the purchase of a second home.
Once we understand the income you want during retirement, we can look at the retirement income options you have available, starting with your employer’s defined benefit and contribution plans. We will advise you on your options contained within your employer’s plan, letting you know the pros and cons of these options, allowing you to make a more financially informed decision for you and your family.
Next, we advise you on one of the most important financial decisions you will make during retirement — when and how to elect your Social Security benefits. With many Americans 65 and older relying on Social Security for at least 50% of their family income, making the wrong choices when it comes to claiming your Social Security benefits could drastically change how you live in retirement.
The last step is determining how to most tax-efficiently withdraw the remaining income you need from your retirement accounts.