Comprehensive Retirement Planning

Here at Perspective Wealth Planning, we feel that the recent focus on “finding your number” has done more harm than good. Retirement should be considered a lifelong journey, balancing both current needs along with long term happiness… not just a number.  The process of planning for retirement should be focused on coaching clients through not only saving and investing, but also include career advice, ways of reducing stress, and strategies to transition out of full-time work as early as possible. 

The 4 Stages of Retirement Planning

1.starting & accumulating

This is the stage of retirement planning when you begin to establish retirement as a future goal. Here we begin with building your financial plan. This plan will be the road map that we will follow to help you pursue your retirement goals. For more information on financial planning, along with our 7 step financial planning process click here.

2.getting close to retirement

Here is where we start to look at ways of maximizing all of your retirement income options. We focus on strategies that can maximize your future social security income, help you understand all of your pension options, show you how your assets will turn into an income stream for retirement, and finally discuss proper risk management for your assets as you are approaching your final working years. Our main goal when we are working with clients in this stage is presenting them with ways to retire as early as possible. This is because there have been studies done that directly correlate retirement age with life expectancy.

3.retiring now

We have 20+ years of combined experience working with retirees so we understand the stresses involved with making this decision. This is why we are committed to being with you every step of the way! In this stage, we will go over various options to help you turn your assets into an income stream, analyze your different social security options, and stress test your retirement plan to help you understand what could happen if you are negatively effected by sequence of returns. Sequence of return risk is one of the least talked about risks in retirement but could be the most devastating. Click to learn more about this little known risk.

4.Already retired

If you are already retired and don’t yet have a financial plan, don’t worry… its not too late! One of the most important things that you can do in this stage is analyze all of your accounts and income sources to get a better understanding of the chances your retirement savings will last for your lifetime. We will also have the conversation about estate planning and what you want to have happen to your assets when you pass away. For more information about estate planning, click here.