Services > Retirement Planning
The retirement planning process would include the following:
- Initial Meeting – At this initial meeting we will discuss your goals related to retirement planning. Are you on target to retire or is retirement even a possibility? The investments accumulated during working years how best to investment and draw down in retirment? When should you begin taking social security and are their claiming strategies that could apply? What about long-term care insurance? Does this makes sense for you? These questions and many others will be discussed in the initial meeting.
- Data gathering - At the initial meeting you will be provided a questionnare that you will need to complete and return. The questionnaire will not take too long to complete. Along with the questionnaire you will need to provide all investment statements, most recent tax return and social security earning report for each. This information will be analized by the planner. If additional information
- Investments - Is your portfolio properly allocated given you risk tolerance, time horizon, return requirements and goals? An investment policy statement will be developed for your unique situations. Are you looking for a simple investment solution? I take a passive investment approach that is pattern after what is called lazy investing. Check out online the Lazy Portfolio Center for sample portfolios.
- Income Tax Planning - are you paying too much income tax? Are there options available that can reduce your taxes?
- Funding for College - are you setting aside enough for your family’s education? Are the underlying investment options taking advantage of the myriad of tax advantaged vehicles?
- Retirement Planning - What should you be doing now to ensure that you’ll be able to retire when you want to? What are the “what-if” situations that make it possible to have enough money to last during a long retirement? Will you need to invest more, take more risks, work longer, reduce expenditures or a number of other options that will be reviewed? Should you take social security benefits early or at full retirement age or even later?
- Estate Planning - Do you have an appropriate estate plan in place? Will your assets be distributed according to your wishes at death? Are your assets titled appropriately? Do you have a will and medical directives to make your wishes known? Has charitable giving been worked into your planning? Have your beneficiary designations been reviewed and updated for changes?