Through our years of experience working with retirees we know that walking through the retirement door is an emotional and sometimes difficult transition to make.
We have years of experience working with retirees and their retirement investing through our Family Wealth Planning Process. We see clients that are elated to retire and some that are anxious. Either way, we help retirement clients feel more at ease with the retirement transition, and retirement investing, knowing they have a plan in place for retirement spending, retirement income and portfolio stability and growth.
The Family Wealth Planning process and frequent communication with our retired clients gives them control over their retirement and control over their “real-time” plan. We are frequently discussing wealth management & retirement planning topics throughout the year such as tax issues, beneficiary updates & reviews, life insurance suitability, income & expenses and many other issues*. We do this to be sure our retired client’s Family Wealth Plan is always up to date and tracking their goals accurately and successfully. If you are looking for a partner in your retirement investing strategy, contact us today.
*Raymond James financial advisors do not render tax or legal advice. Please consult a qualified professional for tax or legal advice.
Retirement Checklist
- Spend three months calculating your living expenses so that you will have a clear picture of your current budget.
- Review your Financial Plan with Windsor Wealth to be sure that your planned retirement date is attainable given your retirement goals.
- Have a plan in place for health care insurance
- Will it be COBRA?
- Will it be a private insurance policy?
- Or, Medicare with a supplemental policy?
- Go online to www.ssa.gov to get your social security benefit.
- Talk to Windsor Wealth about the best time to start your social security benefit and potentially schedule a call with Cindy Lundquist through Windsor Wealth to discuss your options.
- If you have a pension, find out the following:
- When are you eligible to start taking your monthly benefit?
- What is your monthly benefit?
- When do you need to complete the necessary paperwork to get it started?
- How much do you need to withhold for taxes? Talk to your accountant for assistance in this area.
- Talk to Windsor Wealth about putting together an income plan in place to meet your retirement budget
- This may include an investment strategy change to provide you income in retirement.
- Talk to Windsor Wealth about your employer retirement plan and your options for your retirement plan account once you are retired.
- Keep it with the employer or rollover to IRA?
- Review your group life insurance with your employer and talk to Windsor Wealth about the need for life insurance in retirement.
- Review your PTO (Paid Time Off) time. If you have significant PTO find out if that will be paid to you when you retire.
- Once you are comfortable about a date to retire, talk to your HR department about your retirement plans and ask them for the necessary paperwork for your pension and for your retirement plan.