Services > Retirement Planning
What should you be doing now to ensure that you will 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? The retirement planning process would include the following:
- Initial Meeting At the initial meeting we will discuss your goals related to retirement planning. Are you on target to retire or is retirement even a possibility? We will look at the investments accumulated during working years and determine if investments are appropriate in the drawdown phase of retirement? Should money be moved out of employer plans? When should you begin taking social security and are there claiming strategies that could apply? What about long-term care insurance? Does LTCI makes sense for you? Come learn about the bucket approach for investing retirement assets where the risk of the financial markets are lessened. These questions/topics 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 earnings report for each. This information will be analized by the planner. If additional information is needed a request will be made
- Recommendation meeting - At this meeting recommendations will be shared between parties per the original goals set in the initial meeting. This will include reviewing the financial planning report's results. A plan will be laid down to accomplish goals.
- Written letter - The planner will recap the goals, finding and recommendations in a written letter to client. The letter will recap what was discussed at the two meetings including analysis of the supporting material. There will also be discussion in the letter about the results from the financial planning report. It could also involve an investment policy statement.
- Follow-up meeting - A third meeting will be offered to go over all the findings and if there are any questions that need to be clarified or additional questions.
- On-going follow-up - If questions come up later that are related to the initial engagement there are no addition charges for phone or email correspondence.