At Stoddard, the Finish is where you get your income from when your work winds down. How your income is taxed in retirement can make a big difference. The Start is where and how much you save to meet your future needs.
With so much at stake, most people fear making costly mistakes. You’re bound to have questions, such as:
Can I afford
to retire?
You most likely worked hard to save for retirement, pay for your house, and contribute to your children's education, yet have no idea if you can afford to retire. Answering this question means looking carefully at your overall financial picture. We help clients identify, plan and execute strategies designed for securing their desired financial future, including retirement. The planning process begins by helping clients maximize their corporate benefits to leverage their potential retirement income. We guide clients in transitioning income sources with tax efficiency, manage assets to suit their risk preferences, and coordinate with their tax and estate planning professionals.
How will I get
paid in retirement?
This is partly dependent on where you worked (federal, state, public, or private company). Most of us will have a pension (Social Security) and/or a public or private pension depending on who we worked for. Determining how and when to take your pension(s) is part of the income puzzle. 401k(s), 403(b)'s, IRA's, and other retirement savings programs help supplement our pension income. Helping you think through your options is what we enjoy. Setting up monthly distributions from your investment plans is all part of the plan.
Will my money
outlast me?
The flip side is "will I outlive my money?" Despite the bumper stickers that say "I'm spending my children's inheritance" or "die broke," we think those folks already made their mistakes. Choosing your Social Security or other pension benefits in conjunction with what your spouse is entitled to helps minimize running out of money. Minimizing taxes and investing appropriately throughout your life will contribute to the answer. We help clients model out their income, assets, and expenses to project their probability of a successful retirement.
Not ready yet? Learn more about what makes Stoddard stand out.
It is time to take control of your own future. With a well-designed Retirement Lifestyle Plan, you can obtain the most enjoyment possible from the money you have to spend during the rest of your life. In an uncertain world where investment returns are unpredictable, planning is the most important exercise you can do to increase the likelihood that you’ll enjoy a rewarding retirement.
This workbook is designed to help you collect and organize the information needed to develop your Retirement Lifestyle Plan, and will include your goals and the resources available to fund them.