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Retirement Planning

Retirement Planning

Retirement planning is not always easy, even for well-paid, responsible people. We understand — and offer expert, independent retirement advice and coaching.

What will your “future self” (and your finances) look like in 20 years, 30 years or more? What will be important to you down the road? Retirement planning and the state of your retirement savings and other assets will determine your degree of comfort, security and choices — now and then.

At Journey Wealth Partners, we help people achieve their most fulfilling life. Whether that means retiring early, traveling the world or balancing paying for college with saving for retirement, we do it all for successful professionals with big appetites for life.

Many of our clients are in the process of building and maintaining financial independence, or have already gotten there. We are often asked the following questions:

  • How much money will we need to retire?
  • How can we retire early while maintaining our lifestyle?
  • What accounts should we continue funding, and what are the best retirement plans for us?
  • Should we pay off our mortgage, refinance or downsize?
  • How do we manage taking care of adult kids and/or elderly parents?
  • To what extent can we help our children with medical school tuition?
  • If single: How can I manage romance and finance if our standard of living is quite different?

We will talk through these issues with you while considering factors such as your spending and saving levels, amount of debt, and personal goals. Then, we will research and develop options, make recommendations, and guide or manage plan execution. And we will continuously monitor, review and update your plan as needed.

Think of retirement planning and being retired as a long flight: You are the pilot, and we will give you the information so you may make the necessary course corrections. Turbulence or not, we will guide you toward a secure retirement.

Retirement Income Planning

Retirement Income Planning

As you approach retirement, surprises will inevitably pop up. It is important to stay disciplined and zeroed in on those things that you can control. (Hint: The stock market isn’t one of those things.)

While some of the issues mentioned above are still in play, you need to focus on generating a “paycheck” from the retirement savings you have amassed over the years. Questions like these come to mind:

  • Is phased retirement an option?
  • Where are we going to live? Can we afford a vacation home?
  • How is our health? How will we pay for healthcare and, if need be, long-term care?
  • How should our portfolio evolve?
  • How much income will we need to withdraw after Social Security and other sources we may have?
  • How do we best withdraw the income we will need?
  • How do we take distributions in the most tax-efficient manner?

Our team has extensive experience with retirement income planning. We will segment your savings over the current, near and long terms to minimize your risk when the inevitable market volatility occurs. In addition, we will strive to match your cash-flow needs with the appropriate investments (a.k.a. liability-driven investing). All in the interests of creating a comfortable retirement for you.

To learn more about our approach to retirement planning, please contact us today.

How to Save for Retirement: Useful Resources

  • ThirdAge: Healthy living for now and beyond, with content targeted toward baby boomers.
  • U.S. Department of Labor: An abundance of links and publications concerning retirement plans, courtesy of the Employee Benefits Security Administration.
  • Internal Revenue Service: The IRS offers guidance on such topics as saving for retirement, how changes in your life may affect your retirement planning and much more.
  • U.S. Social Security Administration: You can complete a variety of tasks here, such as reviewing your Social Security statement, calculating your Social Security benefits and much more.
  • In 20 Years: A website where you can upload your picture, and it will show you how age will change how you look. Proceed with caution.
  • Irish Blessing: Need the perfect toast for a retirement party? You will find it here.

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