Retirement Readiness Service
Approaching retirement age, people often have similar questions and concerns around their financial future.
I provide a comprehensive and understandable analysis of your retirement-readiness. You will receive guidance and clarity about your financial security during retirement and understand actions you can take to mitigate any identified risks. This will include multiple scenarios of how your financial future may unfold. You will also receive a holistic evaluation of your retirement roadmap and how your future net worth will evolve over your retirement years.
You will learn:
- When you can afford to retire and how your financial stability would change if you were to work more or fewer years
- How much you can prudently spend each year and if you are at risk of outliving your savings
- Your options to get back on track if your savings are not sufficient for your retirement spending target
- How your financial stability would change if you were to experience a significant unplanned expense or investment loss
- How you should invest your savings and the appropriate asset allocation and selection of low-cost mutual funds
- Whether you should pay off any remaining mortgage balance
- When to claim your Social Security benefit
- Whether an annuity makes sense, and if so, when to purchase it
- How to consolidate and simplify your retirement accounts
- The optimal distribution strategy for your retirement accounts and whether Roth IRA conversions would be sensible
- If you face Medicare surcharges (“IRMAA“) and if so, how to minimize them
- Whether long-term care insurance makes sense, and if so, how to purchase it
The fee for this service is $750 and includes 90 days of follow-up financial planning. You can get a sense of my retirement planning approach here.