Tax-Focused Retirement Planning
Welcome to Keep It Simple Financial Planning!
Retirement is on the horizon. Exciting times!
While there are many exciting aspects of retirement, we also know that there are quite a few concerns most clients have.
One of the main concerns being keeping what you earned during your investment career.
Taxes, taxes, and more taxes. That’s what retirement can feel like sometimes.
Once you retire most likely you will have to start withdrawing from your tax-deferred retirement accounts like 401(k)’s and Traditional IRA’s. Each and every time you need to fund your retirement, taxes will be a consideration.
The good news is there is help available. The sooner you plan, the better off you will be.
What is “tax-focused” retirement planning?
Tax-focused retirement planning is where we help you navigate the complex world of retirement planning with a focus on tax efficiency. We understand that taxes can be a significant factor in retirement planning, and we are committed to helping you optimize your retirement income while minimizing taxes.
Our team of experienced financial professionals will work with you to develop a customized retirement plan that takes into account your unique goals, risk tolerance, and tax situation. We utilize advanced planning techniques and cutting-edge technology to create tax-efficient retirement strategies that maximize your after-tax income.
One of our primary objectives is to help you minimize taxes in retirement. We offer a range of tax planning services, including tax-efficient investment strategies, retirement account distributions, and Social Security optimization. We also offer guidance on tax-efficient estate planning strategies that can help minimize taxes and maximize your legacy.
Our retirement planning services are designed to provide you with peace of mind and financial security in retirement. We take a holistic approach to retirement planning, considering all aspects of your financial situation, including income, expenses, assets, and liabilities. Our goal is to help you achieve your desired retirement lifestyle while minimizing financial stress and uncertainty.
Stay On Track and Maximize Retirement Spending
Utilizing A Dynamic Withdrawal Plan That Adjusts Over Time To Keep You On Track
The 4% “rule” has been a popular guideline for retirees to withdraw money from their retirement savings. However, there are some downsides to relying solely on this rule.
One of the main issues is that it assumes a constant withdrawal rate over time, which may not be realistic given fluctuations in the stock market and changes in personal circumstances. In addition, the 4% rule does not account for unexpected expenses or emergencies, which can deplete retirement savings quickly.
With increased life expectancy, retirees may need to stretch their savings over a longer period, making it challenging to sustain a fixed withdrawal rate. As such, while the 4% rule can be a useful starting point, it's essential to adjust your withdrawal strategy based on your unique circumstances and financial goals.
This is why we recommend and utilize a dynamic retirement spending withdrawal plan that adjusts over time for our clients.
By starting with a safe withdrawal number, then rerunning our clients plans on a monthly basis and recommending changes as needed, our clients are set up for success over the long-term.
Ready to get started? Let’s begin by getting your financial situation organized..
Create your Asset Map.
Webinars About Retirement Planning
How Does Taxation of Social Security Work?
The 6 Best Ways to Reduce Taxes In Retirement