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Your experienced retirement planning advisors are ready and waiting to help you craft your customized retirement plan

Retirement is beginning to mean something completely different than it did even a decade ago. The “traditional retirement” of working at the same company for 40 years, retiring at age 65, and living out your golden years with a cushy pension is, for many people, a thing of the past. 

This re-imagination of retirement is partly out of necessity (these days, pensions are few and far between) and partly out of an increased desire for financial independence, particularly by Millennials and Gen Z. 

A savvy retirement planning advisor understands that what you have imagined for your retirement may look nothing like other clients. Your aspirations and goals for the future are as unique as you are. 

Your resources, lifestyle, risk tolerance, and time horizon also impact your retirement planning, making a cookie-cutter retirement plan simply impossible. These factors are also always changing, making your financial planning for retirement an ongoing, evolving process.

Are Retirement Planning Advisors Worth It?

There are some things in life that you may find worth the risk—skydiving, moving away from your hometown, or even starting your own business! 

But there are other things that you simply don’t want to risk, and retirement planning is one of those things. Without proper retirement planning services, you run the risk of: 

  • Facing insurmountable medical bills without the resources to pay them
  • Relying on dwindling Social Security benefits
  • Having to go back to work (when you don’t want to) 
  • Being a burden to your adult children
  • Or completely running out of money 

A retirement planning advisor can help you mitigate these risks by working with you to pursue the retirement you wish to enjoy.

Retirement Planning Services

A successful retirement plan is one part of a robust, holistic financial plan for your whole life. How you manage your income, expenses, debts, and assets now affects how you can build a retirement nest egg that you won’t outlive. 

A prosperous retirement plan includes….

Investment Management

Accumulating assets and deciding where to allocate your investment funds is crucial to a successful retirement. 

Because you’re going to live off your investments one day, you need to create and follow a plan that will help you…

  • Save and invest enough money
  • Properly diversify your assets
  • Know your time horizon
  • Mitigate risk appropriately
  • Minimize fees
  • Understand how you’ll access your income in retirement

A retirement planning advisor can help you create a diversified portfolio tailored to your risk tolerance, time horizon, and retirement goals.

Retirement Tax Planning

Just like in your accumulation stage, taxes need your attention! Decreasing your yearly tax obligation is a critical step in keeping more money in your pocket (both now and in the future).

Tax planning for retirement entails many different strategies such as maxing out retirement accounts, claiming tax credits, and utilizing health savings accounts.

A retirement advisor can help you take advantage of the strategies that are right for your stage of life.

Income Planning

Determining your retirement budget and income needs can be tricky.

Your lifestyle will be completely different, which may make your expenses decrease (no more commute or business expenses) or increase (hello, travel!).

Whatever your expenses are going to be, a retirement advisor can help you determine how large your nest egg needs to be and what it will look like to withdraw income from your assets.

Risk Management

Your careful financial and retirement plans are too precious not to protect.

Having the right type and amount of insurance to protect your health, life, and assets is crucial.

A retirement advisor can help you determine how to protect your most valuable assets.

Estate Planning

Who do you want to benefit from your well-planned and managed wealth?

Estate planning can help avoid nasty family arguments after you pass and ensure your legacy is carried out exactly how you wish.

Not to mention, estate planning protects you if you become unable to manage your affairs.

A retirement advisor, in addition to an estate plan attorney, can provide guidance on this important piece of your financial plan

Retirement Seems Far Away, When Should I Start Planning?

When it comes to saving and planning for your future, you can’t get started too soon. 

There are numerous benefits to getting started early: 

  • You can be more aggressive in your investment choices
  • You can save and invest less since your money will be growing longer
  • You’ll build the habit of saving and investing a portion of your income, regardless of how many promotions and raises you receive 
  • Your chance of financial independence and retiring early greatly increases

In other words, you should start planning today!

Ready to craft your retirement plan? Schedule a free call with us!

Reach out to us any time. We’d be happy to chat with you to help determine if we’re a good fit for working together.

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Five Pine Wealth Management

250 NW Blvd, Suite 111, Coeur d’Alene, ID 83815