Managing wealth before retirement, at retirement, and after retirement are very different. First we need to define what you’re managing for after retirement, establish together where you are currently, and how we can help you be prepared for where you want to be. It’s an honest discussion, and it can be hard. But these topics are important for everyone in the household to be on the same page.
- Sustaining Lifestyle: Covering basic and discretionary expenses.
- Healthcare Costs: Planning for rising medical expenses.
- Legacy Planning: Leaving assets to heirs or charitable causes.
- Tax Efficiency: Minimizing taxes on withdrawals, income, and estate.
- Risk Management: Protecting against market volatility, or inflation.
Key Wealth Management Strategies can Include:
- Income Planning
- Social Security Optimization: Decide the best time to claim for each individual (everyone is different, one plan won’t fit everyone).
- Pension/Annuity Options: Lump sum vs annual payments; consider inflation protection, and pension rules on death.
- Required Minimum Distributions (RMDs): Start at age 73 (or 75 depending on birth year); plan withdrawals to manage tax impact.
Investment Management
The Family Wealth Group Plan
When you sit down with us, we will walk through our Four Bucket Approach with you and your specific situation. We will discuss your assets and where they currently exist, and compare them to your short and long term goals and objectives. We will work together as you go through the various stages of life and modify your existing financial plan as things change…from kids in school, to paying off the house, to finally being able to say “I don’t need to go to work anymore.” We are there to help.
The Family Wealth Group Pillars
- PROTECT legacy & investments
- MINIMIZE risk & taxes
- MAXIMIZE income & estate
Ready To Take The Next Step?
For more information about any of our products and services, schedule a meeting today or register to attend an educational presentation.
give us a call at 859.309.0349
