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We work predominantly with high net worth individuals, many of whom are approaching the “retirement runway.” A recurring theme comes up frequently in our conversations, and that is whether or not they are prepared for retirement. We have sophisticated tools and technology at our fingertips, but wanted to share the simplicity of having a retirement equation that helps know whether you are ready for retirement. These 5 principles are the bedrock of what we do to prepare our clients for retirement. We love helping our clients feeling relieved knowing they have a great chance at success in retirement. We also love helping them plan and prepare for the next generation as well. Please consider joining our Professionals’ Retirement Exit Plan (PREP Talk) on April 6, 2018. In order to be prepared for your retirement, you need to ask yourself and have answers to the following areas:
How much is needed to meet your needs, wants, and wishes. In what order should you distribute from the accounts. What if I retire and we have an extended bear market?
How soon can I retire? What if I get laid off before I want? When should I take Social Security? How long do we need the assets to last? What about the next generation?
What mix of assets is appropriate to meet long-term goals and legacy wishes? What asset mix lines up with my risk tolerance preferences? Will my asset mix have a good chance to beat inflation?
Are my risks balanced so that I have aligned my ability to take on risk, my willingness to take on risk, and my actual portfolio risk.
Proper tax planning and tax location of assets is important as well as knowing which buckets are the most tax-efficient to pull from and in what order should they be distributed.
In order to properly plan for your retirement, you need to START.
If we can help you get more confident that you are prepared and ready to land your “retirement plane,” please let us know. We would be honored to serve you and your family.