Retirement IS Complicated!
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Planning your finances for retirement is crucial. Having a solid plan with the 4 essential shields in place helps ensure you have enough money for a comfortable life, offering peace of mind by minimizing taxes, maximizing income, and aligning your investments with your goals. Without a plan, you risk running
out of money, paying unnecessary taxes, receiving less income, and suffering investment losses. |
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There's a lot of risk so we believe in being proactive in our approach. You MUST be prepared or you will fail. There's so many things to consider because one mistake could seriously derail or destroy your retirement! The successful option is working with an advisor that is a "decumulation specialist".
What does that mean? Let's compare the difference between your working years and when you retire. |
What's a "Decumulation Specialist"?A "Decumulation Specialist" is an advisor who can help you navigate through the perils of retirement - to plan ahead, be prepared for what's coming and the unknowns in retirement. Once you retire - you now have another 10, 20, 30+ years to live and that's where it's absolutely imperative to work with an advisor who understands this. When you retire, the paycheck stops, your paying taxes, get on Medicare, worry about market up/downs, worry about outliving your money, possibly have a Long Term Care event and there's many more things to consider like the chart comparison below.
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"We ALL Make Mistakes, Don't Let Your Legacy Be One Of Them" |
- Gerard Ladalardo |
WORKING (Accumulation Phase) RETIREMENT (Decumulation Phase)
(usually a broker or self managed) (Decumulation Specialist)
Getting a paycheck
Paying taxes Contributing to your IRA/401K/pension plan Employer sponsored Healthcare Employer sponsored Life Insurance Risk Mitigation Market up/downs generally OK Fees |
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Paycheck STOPS
Pay Taxes Withdrawals from your IRA/401K/pension plan Medicare Your own life policy Risk Mitigation Market up/downs NOT OK Fees Social Security Income Long Term Care (LTC) Withdrawal income most tax efficient manner Required Minimum Distributions (RMD's) IRMAA penalties Annual Earnings Test (AET) Legacy planning Legislative Risk (changing laws) |
