Financial Planning for Retirees.
Whether you plan to walk on sandy beaches, volunteer and give back, garden or even start an encore career, retirement is a time of great change.
Planning for retirement is a surprisingly complicated set of decisions and challenges that no-one should simply “wing” and just “hope for the best”...
It’s one thing to suffer a market crash while you’re still working, still saving for retirement and still have an income to cover basic spending needs. But it’s quite another thing if a serious financial shock happens around the time you plan to retire or just after you’ve quit work. That kind of outcome can have a lasting and very negative impact on the sustainability of your assets.
Events outside of your control, including health issues impacting your ability to keep earning and saving, or changes to the health or employment status of a loved one, can really call your lifestyle, charitable giving and/or legacy planning goals into question. But the good news is that there are strategies to address these challenges.
The Wealth Collective works closely with clients in the retirement ‘red zone’ to help protect against these various retirement risks. We discuss and address topics like likely medical expenses and Long Term Care planning, or other specific needs including estate planning/charitable giving and 529 plan gifting for grandchildren.
As a RETIREMENT INCOME CERTIFIED PROFESSIONAL™ (RICP®) and CERTIFIED FINANCIAL PLANNER™ (CFP®), John Agnew, CFP®, RICP®, CDFA®, CLU® works closely with clients to address and bring confidence to these issues.
RICP® is a retirement planning professional designation covering Social Security claiming, Medicare, pensions, retirement account distributions and long-term care planning. It includes a key focus on individualized, sustainable retirement income plans.
Tax-Efficient Income Planning, Social Security Optimization, Home Equity Planning, Longevity issues…
The Wealth Collective helps clients “build” the income they need for their essential spending, plus any lifestyle, aspirational and legacy or gifting goals. We advise on tax-efficiently turning accounts saved up over a lifetime into income that can be spent sustainably over an unknown period, during the uncertainty of future stock and bond market cycles, and with an uncertain interest rate and inflation path into the future.
Without pushing products, we discuss the use of life and/or joint life income annuities, inflation-protected bonds and other fixed income, precious metals, energy/commodities, and emerging crypto/blockchain/digital assets.
We assess your ability and willingness to take risk, and discuss how Government and/or private pensions, Social Security benefits, rental income, fixed income, growth and dividend paying stocks can all help provide for a secure, sustainable and worry-free retirement.
For many retirees, the equity in their home represents another large asset to strategically plan around. While we absolutely do not ever make any money from Home Equity Conversion Mortgages (HECMs) or other reverse mortgage products, we can advise on potential uses for clients at all wealth levels.
Typically home equity is a large, and independent (uncorrelated) pool of money that is not tied to the value of retirement accounts or the stock or bond markets, and so there are potentially useful planning strategies for both high net worth and regular retirees worth discussing.
“Don’t Risk What You Have And Need In Order To Pursue What You Don’t Have And Don’t Need.”
– Warren Buffett