FAQs
How do I know if I have enough saved for retirement?
We’ll work with you to project your retirement expenses, income sources, and savings to determine whether you’re on track. Our financial planning process includes stress-testing your retirement plan against various market conditions to help ensure your nest egg can support your desired lifestyle.
What are my options for generating income in retirement?
There are several income strategies, including systematic withdrawals, annuities, Social Security optimization, and dividend income. We tailor your income plan based on your goals, risk tolerance, and tax situation to provide both stability and flexibility.
When should I start taking Social Security benefits?
It depends on your personal circumstances. Taking benefits early (age 62) can reduce your monthly income, while waiting until full retirement age—or even age 70—can significantly increase it. We help you evaluate the trade-offs to decide what’s best for your long-term financial health.
How does Medicare fit into my retirement plan?
Medicare typically begins at age 65, but it doesn’t cover everything. We help you understand your Medicare options (Parts A, B, C, and D), estimate out-of-pocket costs, and evaluate supplemental insurance to ensure you’re covered and protected.
What is long-term care planning and why is it important?
Long-term care includes services like assisted living or in-home care, which aren’t covered by Medicare. Planning ahead helps you protect your assets, reduce stress on your loved ones, and ensure you receive the type of care you prefer. We’ll walk you through your options, including long-term care insurance and alternative funding strategies.
How do I prepare financially for potential long-term care needs?
We help you evaluate the likelihood and cost of future care, then design a plan that might include self-funding, insurance, or hybrid life insurance policies with long-term care riders. Planning early can provide more options and lower costs.
Can you help me create a legacy plan?
Absolutely. Legacy planning ensures your assets are distributed according to your wishes. We coordinate with our attorney on staff to structure wills, trusts, and beneficiary designations—while also incorporating tax-efficient strategies to maximize what you pass on.
What’s the difference between a will and a trust?
A will directs asset distribution after death but typically goes through probate, which can be public and time-consuming. A trust avoids probate and offers more control over how and when your assets are distributed. We’ll help determine what’s appropriate for your situation.
How can I reduce taxes in retirement?
We incorporate tax planning into your overall strategy by managing withdrawals across different account types (tax-deferred, tax-free, taxable), timing Roth conversions, and considering how Social Security and RMDs impact your tax bracket.
Why work with a financial planner instead of doing it myself?
Financial planning goes beyond investment management—it’s about creating a comprehensive strategy that aligns with your life goals. We provide professional insights, ongoing guidance, and peace of mind to help you make informed decisions and stay on track.
Can you also file my taxes?
Yes, absolutely. Our firm includes tax prep starting at $250,000 in AUM with us. Our tax professional handles all of the documents for you and the cost is included in our AUM fee.
Can you draft a Will or Trust for me?
Definitely! Our financial planning packages include either a Will or a Trust. It also includes a Power of Attorney and Healthcare directives. Our estate attorney on staff will draft all of the documents in a timely manner and set them up exactly how you would like