A variety of factors have led to retirement planning becoming more complex than ever before. Today's retirees not only face the traditional risks such as market fluctuations and inflation, but also the risk of outliving their assets and the increasing costs of health care. Ever-changing rules regarding how to access savings, and the tax rules associated with those accounts can make planning difficult. After a lifetime of accumulating assets, just knowing the most efficient way to use those assets is not always clear. The Hoffman group, with 100+ years of combined experience has the knowledge and expertise to add significant value to our clients by understanding the key risks in retirement.
Many of the questions we help our clients answer include:
- When should I take Social Security benefits to maximize income?
- Which pension distribution is strategy is best for me?
- Can I turn my savings into income?
- How much should I have in fixed income vs the stock market?
- Should I leave money in my employer’s plan or roll it into an IRA account?
- Is long term care insurance necessary?
The Hoffman Group will focus on your goals as it relates to the lifestyle you’d like to live. We will help you figure out if you have enough to retire now, what changes you might need to make, how much to save, what types of accounts to use (such as funding Roth IRAs or 401ks or Traditional IRAs or 401ks), and what mistakes to avoid when exiting the work force. Before we make any recommendations, we will learn your expected time horizon, risk tolerance with investing, income needs, and understand the resources you have now as it relates to assets and liabilities in order to determine the most effective way to fund your retirement.
Have You Planned for All 3 Phases of Retirement.pdf