Broker Check



Methods for Improving Your Chances for Success in Retirement

| September 24, 2020

The most common and challenging question we receive from clients is “How much money do I need to retire?”  I say challenging, because that number is a moving target.  Each client has unique circumstances, such as income needs, time horizon and risk tolerance.  There are also external factors, such as inflation and the tax environment that can move the number. 

Our best answer for that question is, “Let’s look at your current savings and circumstances as a baseline for calculating your chance for success in meeting your retirement goals.”  Once we know your current probability of success, we can look for opportunities to create a more favorable outcome. 

A few methods for improving your retirement prospects include:

  • Adjusting your investment allocation to a level more appropriate for your circumstances
  • Designing a withdrawal strategy that minimizes taxes and preserves tax-deferred growth
  • Postponing social security benefits
  • Pushing back your retirement date
  • Adjusting your income goals
  • Working part time during retirement to earn extra income

We help design retirement income plans for all our clients and advise on methods that provide the greatest chance of meeting your financial goals.  Please give us a call if you have questions about your retirement outlook.