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Young Wealth Management

Retirement Planning

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"Dammit, I saved too much for retirement! Said nobody, ever." - Anonymous

While you are working, you receive a paycheck. But in retirement, you will need to create a new type of paycheck. We can help you to review your resources and your goals to create a new paycheck for you to live on during retirement.

  • "When can I retire?" This is an important question that we can help you answer.
  • "Have I saved enough?" As we are all living longer, your retirement will last longer too.  This means that after retirement your money will need to last you 20, 30 or more years!  We will analyze your potential income sources (social security, pension, distributions from investments, etc.) and examine your cash flow to project your expenses during retirement.
  • "Should I be saving in my 401k or 403b at work?" "Should I be contributing to an IRA?" We will do a thorough analysis of all your retirement accounts to see if you are on track with your saving.
  • "Can my spouse contribute to an IRA if s/he doesn't work?" "Am I a good candidate to do a 'Back Door Roth'?" We can answer all of your IRA-related questions. We regularly do Roth conversions for clients and can help assess if you are a good candidate.
  • "I really like the idea of an annuity. Would an annuity be good to have in retirement?" Annuities can provide a steady income stream in retirement however they often come with high fees and they lock up your money for a period of years. They have a place in some retirement plans but they are not for everyone. We can help you examine the pros and cons of annuities and help you to decide whether they are right for you.
  • "When should I take social security?" We can help you determine the best age to take social security and project your social security income based on the age you plan to take it and how it will effect your income after retirement.

Next area: Tax Planning

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