Retirement Income Planning

Your primary goal during your working years is to build the largest nest egg possible. Shifting your mindset and skills from accumulating assets to drawing an income from your nest egg is a tricky proposition.

 

Financial Products offered through INVEST

  • Mutual Funds
  • Exchange Traded Funds
  • Real Estate Investment Trusts (REIT)
  • Managed Futures
  • International Equities
  • Fixed Income Bonds
  • Stocks
  • Variable Annuities
  • Third Party Money Managers

 

More than ever you need to understand your opportunities and risks, and how the market may affect your future.

We at Constellation Financial Advisors have open, trusted relationships with our clients and are here to help you make your retirement bloom.

Call us at 410-321-8808 for a complimentary consultation.

 

Your Retirement Income Plan

We can assist you in achieving your retirement income planning goals by providing:

 

Comprehensive Retirement Planning

Will your current investments allow you to retire when you choose? If your Retirement Income Analysis indicates that your current investments are not sufficient for your retirement goals, we will discuss alternatives that may be more suitable in light of your individual risk tolerance and investment objectives.

For example: One of our clients has a young son and, because we have a relationship with the parents, we took the time to help them educate their son about the importance of saving early, which he did at the start of his professional career. He’s 23 and is now on track to retire a millionaire.

 

Retirement Plan Distribution

For those who are about to receive a lump-sum distribution from a qualified retirement plan, we can help you minimize taxes, optimize the potential for returns, meet current tax law requirements, and avoid falling into the potential tax trap pitfalls retirees often face.

For example: A client, employed with the same company for over 30 years, was offered a buyout to retire. He originally wanted to take the cash as a lump sum payment until we showed him that he would incur a tremendous tax liability. We helped him save 45% of this payment by putting the money in a rollover IRA, avoiding taxes and paying no penalties.  

Estate Preservation Strategies

There can be tremendous expenses when a person passes away, which if not planned for, can create an overwhelming financial burden on those left behind. We will work with you to develop a strategy that enables you to pass your assets to your heirs in the most tax-efficient manner.

For example: A client of over 18 years passed away leaving her son a sizable sum of money. We were able to help the son receive his inheritance with minimal estate taxes taken out.

In addition, we work directly with your attorney and/or accountant to assist with and facilitate estate and trust planning and tax management.

Estate preservation can be greatly impacted by your life insurance policy. Learn more about our services to help you maximize your income with smart insurance decisions.

 

Asset Protection Strategies

You may not want to think about needing Long-Term Care (LTC), but it’s a fact of life for a significant number of retirees. The cost alone may be the biggest threat to your financial security. That’s why a dependable asset protection strategy should be a part of your retirement planning. Because of our Retirement Income planning experience, we can provide you with a comprehensive plan that may include LTC insurance, as well as various legal strategies.

For example: Should you care for elderly parents, you may risk not being able to afford nursing home costs, which can be thousands of dollars a month. Talk to us about planning for this situation with long term care insurance. It could save your family fortune.

Learn more about our insurance consulting and related services.

 

Retirement Income Planning Questions To Consider

Will you rely entirely on your nest egg and Social Security for retirement income, or will you supplement that with some other form of income such as a part-time job?

  • Do you want to maintain your current lifestyle, or are you looking to simplify your life in retirement?
  • Do you want to leave a legacy for your heirs, or are they "on their own"?
  • Are you prepared for unforeseen expenses such as increased health care costs?
  • Have you figured inflation and cost-of-living increases into your expenses?

 

Retirement Income Risks

  • Longevity - Your retirement strategy should cover the possibility of living longer than you've anticipated.
  • Inflation - If your annual retirement income isn't increasing by a rate that meets or exceeds the cost of living, then the overall value of your nest egg is decreasing.
  • Withdrawal Rate - The annual rate of how much you withdraw from your nest egg has a direct effect on how long it will last.
  • Healthcare Expenses - Your retirement income plan should take into account that you may be responsible for more healthcare costs than you've anticipated.

 

Retirement Income Planning Experts

 

Call us at 410-321-8808 for a free consultation.