Your Turn to Retire

Assessing the final decision to retire

Transitioning into a successful retirement

Getting a second opinion

Relevant advice for each of the three major phases of retirement.

Whether your happy retirement has finally arrived, or you are shocked the time went so fast, planning a strategy for success in retirement starts here.  Consider each of these questions as a conversation starter to help us create a winning strategy for you.

Do you have enough to retire on?

Are you sure? Obviously, we want to get this answer right. We create a plan that takes what we have learned over the last three decades as advisers and some sophisticated financial calculators to derive a realistic retirement plan that is stress tested against both the unlikely and the unwanted scenarios. We include special planning for:

• Active living in the early years of retirement
• Model when and how to pay-off your home
• Factor in legacy objectives
• Analyze the effect of survivor benefit reduction
• Factor higher inflation for out of pocket health expense
• Consider non-retirement financial goals
• Address unique resources to make each plan tailored to your circumstances

The Medicare and Social Security decisions

We provide practical guidance on the steps you need to take to assure you get the benefits afforded to you under the law. We work with insurance specialists who help with first time enrollments and open enrollments.

Long Term Care Planning

The costs of aging-in-place or assisted living solutions can, and should be, a part of your retirement strategy. One common goal is for you to have adequate resources to keep you from ever needing to go into traditional nursing facilities.

Sustainable Income Planning

Retirement income needs have two components: the cost of living and the cost of living it up. You and your adviser will discuss the need for a base of guaranteed income to cover your “cost of living”. Each client has a unique cost of living and income alternatives that are suitable for them. The “cost of living it up” can be variable and sustain the ebbs and flows of the equity markets.  The solutions are customized but share a common purpose, to have a practical, reliable strategy.

Investing for Current Income

In all kinds of markets, investing is as much about the investors as the investments. When you are accumulating wealth, market sell-offs present buying opportunities.  However, for clients in the income distribution phase of their lives, selling investments during downturns to generate income presents a particularly challenging environment for a sustainable portfolio. Sellers during a down market not only have to sell more shares at lower prices to get their necessary income, but they also no longer own those securities when the markets recover. Investing for income and stability is an inexact art. Using multiple strategies to protect against having to sell into market downturns increases your opportunity for success.

Planning for Incapacity

This is no one’s favorite topic, and while we hope to never enact these plans, we always recommend you plan for the possibility of incapacity. Most people think of Probate as a court for the deceased that is best to be avoided.  Probate courts also determine the administration of the affairs for those who are incapacitated without planning ahead. Expense, legal costs, public filings and unintended actions can all be avoided with simple low-cost solutions.

Getting Your Ducks in a Row

Your Prosperity Team can help you get your financial house in order, thus giving you peace of mind as you prepare for travel, incapacity or provide needed information to your beneficiaries.

The Retirement Transition Plan

We have helped many clients plan their first 100 days of retirement, much like a travel guide might. Our clients make plans in the five critical areas of retirement:

• Financial
• Self Identity
• Social
• Health and Nutrition
• Relationships with loved ones

We admit this seems a little warm and fuzzy, but we have seen the difference it has made for clients that have committed their plans on paper in these five areas. They transform from anxiety to anticipation as they plan their first 100 days of retirement.