Retirement Planning
We created Apprise’s “Pathway to an Informed Retirement” to explain how we help you move from retirement uncertainty to an informed retirement. This process can help you answer the following questions:
- When can you retire?
- How much you should save for retirement?
- Which of your goals can you achieve during retirement?
- In which type of account(s) should you hold your retirement savings?
- When should you start claiming Social Security benefits?
- How should you allocate your retirement savings to different asset classes?
- What can you spend your money on during retirement?
- How can you create a retirement paycheck?
- How do you decide which account(s) to withdraw funds from during retirement?
At Apprise Wealth Management, we take pride in being a trusted financial partner, especially for female-led households. Our mission is to enhance our clients’ financial lives as well as their understanding of financial concepts. We strive to deliver you with the holistic, customized guidance you deserve based on a foundation of trust and transparency. We strive to align people’s capital with what’s truly important.
Frequently Asked Questions
How do I know if I have enough money to retire?
No single amount works for everyone. The answer depends on what you want your retirement to look like, your expected spending, Social Security and other income, taxes, investment assets, and how long your money may need to last. Retirement planning brings these pieces together so you can evaluate whether your resources can support the life you want.
How can retirement planning help me decide when I can retire?
We review your expected spending, savings, investments, Social Security benefits, taxes, and other income sources. We can then model different retirement dates and assumptions to help you understand the tradeoffs involved. Sometimes working another year or two makes a meaningful difference. In other cases, you may discover that you have more flexibility than you thought.
How do I create a paycheck after I retire?
Retirement often means replacing a regular paycheck with income from several different sources. Those may include Social Security, pensions, retirement accounts, taxable investment accounts, and cash reserves. We help you develop a withdrawal strategy designed to provide the cash flow you need while considering taxes, investment risk, and your longer-term financial plan.
Which accounts should I withdraw from first in retirement?
The answer is not always as simple as spending taxable accounts first and retirement accounts later. Your withdrawal strategy can affect your taxes, Medicare premiums, future required minimum distributions, and how much of your portfolio remains for later in retirement. We evaluate these factors together and can adjust the strategy as your circumstances change.
How do taxes fit into retirement planning?
Taxes can play an important role in retirement decisions. We consider the tax impact of withdrawals, Roth conversions, Social Security benefits, required minimum distributions, charitable giving, and other planning opportunities. The goal is not simply to minimize taxes in one year. It is to make thoughtful tax decisions in the context of your overall financial plan.
When should I claim Social Security?
The best claiming strategy depends on your circumstances. Factors can include your age, expected longevity, other income and assets, marital history, and whether you are still working. We can compare different claiming strategies and help you understand how Social Security fits with the rest of your retirement income plan.
How much can I safely spend in retirement?
Rather than relying on a single withdrawal-rate rule, we look at your individual circumstances. Your spending needs may change over time, and investment returns, inflation, taxes, and other factors can affect how much your portfolio can support. We help you understand what you can reasonably spend and revisit that amount as circumstances change.
Is retirement planning only about whether I can afford to stop working?
No. Having enough money is important, but retirement planning also involves deciding how you want to use the resources you have accumulated. We want your financial plan to support what matters most to you, whether that includes travel, family, giving, new experiences, or simply having more control over your time.
Why Choose Us
INTEGRATED APPROACH
It is through detailed financial conversations encompassing all aspects of our clients’ lives that we empower people to make informed decisions.
ACCOUNTABILITY
PEACE OF MIND
At Apprise, we understand that short-term tactics can be important but they must be executed based upon wise strategic decisions rather than best-guess predictions.
Pathway to Informed Success
