We believe a well-designed retirement plan should take into account several different components–principally wealth & income planning, tax minimization, and social security maximization.
WEALTH & INCOME PLANNING
This is the process of finding the most appropriate way of funding your future income needs.
Once we build your projected budget, we then work backward to determine the proper amount of risk in your savings and investments, make the necessary changes, and design a plan so you know just where and when your money will come from in the future.
You’ve worked hard for your savings, now we want your money to work hard for you.
Taxes often are the largest expense in retirement, sometimes making up over 33% of retirement expenses.
Our immediate goal is to develop for you a plan to reduce taxation in your working years by taking advantage of tax-deferred retirement investment savings plans.
The secondary part of this goal is working to create the best saving strategy now that will create the most favorable tax scenario for when you retire, at which time we work to implement the plan we’ve designed.
SOCIAL SECURITY MAXIMIZATION
All too often the decision of when to file for SS is done without due process.
Filing at the wrong time or in the wrong way can mean $30,000, $50,000, or even $190,000 in lost lifetime benefits. Maximizing SS should be at the core of any intelligent retirement plan.
Every dollar you save now puts you in a better position to increase your future SS benefits; every dollar you increase your benefits by can lower your taxation potentially for the rest of your life.