People entering retirement are facing new concerns.

Retirement Planning

As healthcare is improving and life expectancies rise, you are likely to live longer during retirement than past generations. Unlike your parents who likely had their retirement funded mostly with guarantees made by their employers and the government, the assets you have accumulated may be your primary source of cash flow. I can partner with you to create a plan considering the level of assets needed to fund your vision of retirement including likely income needs, potential tax implications and risks that can stand in the way of realizing your vision.

Just getting started

No matter how young or advanced you may be in years, it is always a smart idea to contribute towards your retirement.  Proper planning can give you security in knowing that you are not likely to outlive your assets.

According to Social Security statistics, the average annual social security income of people over age 65 is $$16,0001.  If that average is far too meager for you, we encourage you to get started as soon as possible with a sound retirement plan.  To develop a sound plan we must first review the following:

  • Social Security Benefits
  • Current Expenses
  • Current retirement plan and assets
  • Current investment plan and assets

1 Social Security Administration, “Number of Social Security beneficiaries at the end of June 2016.

Already Saving

Even if you are already saving for your retirement, you should periodically check to make certain that the progress of your plan is still in line with your expectations.  With the consistent presence of volatility in the stock market and sporadic changes in the tax laws, the plan you started just a couple of years ago could need adjusting.

  • For 2017, the amount you can contribute to your 401(k) or similar plan is $18,000.
  • For 2017, the annual contribution limit for an IRA is $5,500.
  • If you are 50 or older, you are able to make additional “catch-up contributions” to an IRA.

Nearing Retirement

Now that you have worked hard to accumulate a nest egg for your golden years, it is very important that it is handled with the utmost care.  You now have the opportunity to spend more time with your family, travel, and enjoy the fruits of your labor.  Distributing the retirement assets properly takes as much skill (if not more) than accumulating the assets. Many people overlook this very important step in their retirement planning.  A proper distribution plan will help ensure that your retirement is not lost to unforeseen perils such as:

  • Over depletion
  • Rising inflation
  • Changes in the market
  • Long term sickness or illness

Contact Info – Memphis

882 Willow Tree Cir Suite #101 Memphis, TN 38018 Phone: (901) 209 - 4015 Fax: (901) 209 - 4009

Contact Info – Knoxville

2928 E Magnolia Ave Suite #204 Knoxville, TN 37914 Phone: (865) 325-2631

How Can we Help You? Please give us a call at (901) 209-4015