Retirement Planning

Medicare Planning

Many people are unaware that Medicare is not entirely free. There are monthly premiums, co-pays and deductibles, as well as some very specific timelines for transitioning into the program (and it can be costly if those timelines are not followed). Further, Medicare is means tested, meaning wealthy retirees face higher costs. It’s important to know how Medicare works, what it’s likely to cost and – most importantly – what it does NOT cover.

Social Security Planning

Similar to Medicare, the Social Security program is often misunderstood, and it’s become increasingly complex. What works for one individual (or couple) is not necessarily ideal for another. We’ll educate you on how the program works and discuss the various payout options available under current law.

(To be honest, in order for us to be 100% sure we’re maximizing your Social Security benefits, we’d need to know your exact date of death. Since that information is obviously not available, we explore multiple scenarios to help you make a quality decision.)

Long-Term Care Insurance

The most carefully crafted retirement plan can be easily upended by a long-term care event. Medicare only covers long-term care under very specific circumstances, and then only for a maximum of 100 days. Medicaid will cover long-term care, but only after you’ve spent down nearly all your assets. Neither program provides a level of security acceptable for most people.

Long-term care insurance can help protect your wealth from the high cost of long-term care. But it, too, is expensive and increasingly complex. We don't sell insurance (or any other products), so we operate as a trusted resource to help you assess the value of long-term care insurance, or determine whether you're a good candidate to forego protection and self-insure.

Investment Planning

During their working years, most people invest for growth, hoping to increase the value of their nest egg. Upon retirement, people frequently adjust their portfolios to generate extra income, which is used to supplement their Social Security, pensions, etc. And retirees may also want their portfolios to be less volatile, which provides them additional financial and emotional protection against stock market drawdowns. Whatever adjustments your portfolio requires in retirement, we'll design an appropriate solution that works for you.

Tax Planning

If your biggest retirement problem is a high tax bill, that’s clear evidence of a life well-lived. It means you're healthy, saved your money well and now have the financial flexibility to do what you want.

Having said that, no one likes writing large checks to the IRS. If we identify that taxes may have an outsized presence in your retirement, we’ll suggest ways to help. We can’t make your tax obligations go away, but we just might be able to mitigate some of the pain.

Gifting & Estate Planning

Many adults enter retirement with an estate plan that hasn’t been updated in decades. That could be a problem, as circumstances change all the time. We’re not attorneys and we cannot prepare legal documents. But we can review your estate plan as it stands now, and help you identify changes you may want to make.

Further, some adults envision making generous gifts in retirement, perhaps to children looking to buy their first home or to grandchildren heading off to college. We’re all for making such gifts, but only when they don’t put your finances at risk. We’ll help develop a gifting plan allowing you to support the people you love – or the causes you support – without sacrificing the security you deserve.