Retirement Planning Services

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Building the Plan for Successful Retirement

How much money do I need to retire? How long will my current investment capital last given the forecast for market returns and my risk tolerance? How do I decide when to start Social Security benefits? Should I be using a regular IRA or a Roth IRA? What are my options for setting up a retirement plan at my new company?

When it comes to retirement planning, sooner is always better than later. There are many important questions that our financial advisors help clients deal with when it comes to preparing for retirement. Our financial advisors act as the guide for the family, whether it is helping a younger client set the right goals for their future, or helping an older client adjust to the beginning of retirement from their career.

Planning for Retirement Long Before You Are Ready to Stop Working

Our interactive wealth forecast can help you visualize the road ahead and understand the key factors that can influence your retirement lifestyle. We can review scenarios in real time during meetings and talk about the implications of adjusting portfolio risk or changing personal spending over time. Our comprehensive analysis gives you power over your retirement planning future. We can map out the future for income and withdrawal strategies to help navigate the road map ahead.

How Do I Use Different Retirement Account Options to Target Success?

Roth or Traditional? 401(k) or IRA? PSP or MPPP? Should I roll over my 401(k) into an IRA or leave it at my old employer? The alphabet of retirement plan options for you as an employee or as a business owner can be overwhelming. Tax planning is strongly linked to retirement planning, and the choices you make regarding investment management across different account types can have implications for your long-term success. We help you figure out the right combination of retirement account and plan strategies to help you reach your goals – and what kinds of investments are the best fit for these accounts. Asset positioning does matter when it comes to the use of your retirement accounts. Your HB financial advisor can help determine which assets are the best fit for which types of retirement accounts vs. the rest of your personal portfolio accounts. As a fiduciary registered investment adviser, HB is focused solely on your best interest when focusing on your retirement planning.

When is The Right Time to Get Started?

Retirement planning is not something you start a few years before retirement age! Your HB financial advisor is ready to work with you starting today to build this plan for the future. Even if you feel like you are on a good path to retirement, there are still tweaks to your strategy that could help you maximize your chances of success or help you achieve other goals (estate, charity) beyond simple retirement. Financial independence is an important goal our financial advisors can help you start tackling now.

How Will I Know If I Am Ready to Retire?

Financial independence is only part of the retirement decision. Your HB financial advisor can help you think through the bigger picture beyond the dollars and cents. Losing company health insurance is a big deal, especially if you are interested in retiring earlier than Medicare eligibility. Insurance planning becomes a critical part of the comprehensive retirement planning conversation. For some clients the conversations focus on what is ahead – not everyone wants to sail the world or play golf daily, and your HB financial advisor can share stories about other client experiences with retirement to help guide you down your own path. Clients also enjoy meeting other clients at HB events and sharing their common experiences both before and after a successful retirement.

What Are the Major Steps for Building a Comprehensive Retirement Plan?

Many people want to understand where to start and feel that this process is too big to tackle alone. Your HB financial advisor can help you first identify your current situation and long-term family goals. We then outline the key pieces of your game plan, including the right mix of taxable and retirement accounts and plans. We help determine the right asset allocation and asset positioning across these various accounts aligned with your goals. Finally, we factor in your assumptions around income, spending, and Social Security to then build out a wealth forecast and scenarios to test the potential future success of your plan. Our comprehensive wealth management approach ties together many important pieces of your financial life. All of the above is not just a one time discussion, because life happens and plans change – and your Homrich Berg financial advisor team will be there to help you navigate those changes.