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Retirement Planning

Want to Retire on Your Terms?

Retirement PlanningNo matter your age, retirement planning is important. Defining your ideal retirement and quantifying those resources will fulfill your retirement goals.

When you retire, are you dreaming of travel, leisure and hobbies? Have you saved enough? Decisions made today affect the lifestyle you’ll lead in retirement. We work closely with our clients, setting realistic expectations of future income stream required in the future. At Total Wealth Planning, we advise our clients on the appropriate level of savings, investments, employer sponsored retirement plans and other retirement savings vehicles most suited to each unique situation.

Are You Ready to Retire? (Really?)

Whether you are eagerly anticipating the day, or it’s a forced event, retirement is more complicated than just financial. First, there is an emotional component:
  • Are you ready for the next phase?
  • Do you have a plan for what you want to do?
  • Are there other things you want to accomplish in retirement?
  • Have you thought about both good and bad aspects of the transition?

Many people define themselves by their profession and business accomplishments during their working years. A large part of self-worth, long-term relationships and a daily life structure come from career. Some people embrace this new beginning: spending more time with family, hobbies, or volunteering. Others, even the most financially secure, worry about no longer having that “regular” pay check. They struggle with transitioning from the accumulation phase of their lives to the distribution phase. At Total Wealth Planning we understand these emotional and financial complexities, and work closely with you as you transition into retirement.

Rob Lemmons Quote “Dynamic trends directly affect affordability of retirement. Knowing and understanding these trends alert you to potential obstacles and pitfalls in retirement planning. You must start intelligent planning earlier, and more diligently, than any generation of workers."

- ROB LEMMONS, CFP®, CPA: PRINCIPAL AND DIRECTOR OF FINANCIAL PLANNING

Rob Lemmons Quote

A Smooth Move from Accumulation
to Distribution

As clients move from the accumulation stage to the distribution stage in retirement, there are many questions. At Total Wealth Planning, we will advise you on:
  • The Social Security system and how to maximize your benefit, and
  • Post-retirement health care coverage, including Medicare and Long Term Care insurance
Total Wealth Planning will also recommend the most tax efficient methods and sensible ways to take money from your retirement accounts.

For today, creative withdraw strategies from your accounts, retirement plan rollover strategies, and successfully managing the tax implications are all key tor your required retirement income. You also want to ensure adequate growth from your portfolio for tomorrow. Total Wealth Planning will review all qualified and tax deferred plans including 401k, 403b, 457, and deferred compensation plans. We’ll then recommend how to best coordinate all your investments.

There are a number of different choices, from an income stream of regular monthly payments to a lump-sum rollover of the entire balance. When the time comes to make a decision, we’ll be there to help determine your best option and ensure a smooth transition to retirement.
 
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WE'VE BEEN LISTENING
FOR OVER 25 YEARS

Life brings many transitions. Find the right advisor to fit your needs on a fee-only basis, and take the first step in the journey. Total Wealth Planning's team of Certified Financial Planners® guides Cincinnati families and associates through transition.
 
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4665 Cornell Rd. Suite 160, Cincinnati, OH 45241 4665 Cornell Rd. Suite 160, Cincinnati, OH 45241
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Tuesday, December 4, 2018


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