Most financial firms and advisors only look at the accumulation phase of wealth and don’t focus on the distribution phase. What happens when you’ve amassed your fortune? How do you distribute it safely and intelligently in retirement? At Fortegic, we work to create not only an appropriate accumulation strategy, but we also focus on the most efficient distribution path so you can relax when it matters most, in your retirement.
As you near or enter retirement there are several things to think about. During your working years, your income primarily came from one source, your employer. So now that you are retired, where is your income coming from? Most of the time retirement income sources can be a combination of Social Security, Pension, IRA’s, Retirement Plans, or maybe a part-time job. Understanding and planning how you will receive and budget your income in retirement is very important.
Things to Consider:
Retirement Plan Distribution
Life Insurance
Long Term Care
Estate Organization
Medicare-Medicaid
Tax Liability
Charitable Giving
Legacy Planning
Have you asked yourself:
Are you happy with where you currently are financially?
How are you planning for the retirement you want?
When do you plan to retire?
Is leaving a legacy important?
Are you concerned about your potential tax liabilities?
Who can your family trust after you’re gone?
Protect your Castle. Build your Moat.
What can you Expect?
In the late 1970’s, sociologist Robert Atchley described these 6 ‘phases’ of retirement. While not everyone will experience all these phases, they are helpful in providing a clearer path for what to expect once you retire. Talk to your Fortegic advisor about what phase you are in and which ones you want to avoid, if any.