WeRise Retirement Strategy
Working towards retirements
When you are in your prime earning years you may focus on saving for goals like: Your child’s education, starting a business, buying a vacation home, etc. but deferring savings, or worse, tapping into retirement funds pre-retirement age can get you significantly off-track to meet your future retirement income needs. At this stage of your retirement planning we orientate your plan to deliver long-term financial security so you can live your best life through your entire life.
What we consider:
- Revising investment strategy
- Alternative methods of funding: inheritance, QDRO
- Impact of spouse or partner’s retirement
- Ownership in real estate
When retirement is in the not-so-distant future, it’s important to understand what financial options you currently have and determine if you are on target to meet your goals. A good financial plan will illustrate multiple financial scenarios and inform you if you need to make any adjustments. We help you get peace of mind by reviewing your current savings and investments and give you an idea of what retirement can look like.
What we consider:
- Income sources and if they are adequate to meet retirement needs.
- Estimated retirement expenses and how to best pay for them.
- The cost of health care in retirement and how it will affect distribution strategy.
- The timing and significance Social Security benefits will have on your overall income needs.
- Estate planning factors
Retiring or Already Retired
Once you are in this chapter of life we review your portfolio and determine if it is structured appropriately by consolidating/ rolling over any straggling accounts. It is important to us that you feel secure about not running out of money during your retirement years…We make sure that your investment plan and distribution strategy supports your income needs.What we consider:
- Taxation and use of outside assets
- Impact of unplanned medical expenses on savings
- Use and significance Social Security income
- Portfolio maintenance keeping up with Inflation
- Establishing/ Updating a Will and the named beneficiaries
Plan your retirement as a shared experience… But, tailor your savings habits as if you were solo.
- 77% of people who are widowed are women. By age 85, women outnumber men two to one.6 Funding your retirement for longevity needs to be a factor in your financial planning process.
- Divorce is common. We must consider it and ensure you are contributing to your own retirement to make sure you are financially secure in the unfortunate event divorce occurs