Retirement Transitioners
The Next Act transition can be fairly complicated and a bit overwhelming in the beginning – the good news is that we’ve helped many of our clients get through this transition with flying colors! This phase of life can involve assisting aging parents, leaving behind a long-tenured career, helping adult children, and identifying how you will live a fulfilling life moving forward – we help you tackle each one of these unique challenges resulting in a balanced and enjoyable Next Act – and there can always be a 3rd Act too, the possibilities can be endless!
- Replacing a paycheck with income from your investments
- Managing the tax efficiency of Social Security and your investment income planning
- Navigating the Medicare landscape including assistance with designing the right plan
- Reconnecting with a spouse as an empty nester and re-learning how to be together more often
- Managing Aging Parents and Long Term Care events for all generations
- Loss of career identity
- Figuring out an appropriate Estate Plan to help leave a proper legacy to your heirs and charities
- Preparing a Business for Sale or Transition so that one can realize the intrinsic financial value of the business
Working towards solutions for these, and other pain points for Retirement Transitioners involves sophisticated planning and collaboration with other professionals (CPA, Estate Attorney) to help your entire financial plan work in tandem. Imagine your retirement income, tax strategy, estate, long term care and financial plan working together as one. Beyond the goal setting and forecasting models, we help our Retirement Transitioners consider how to use both side of the balance sheet efficiently.
Preparing to retire will involve both financial exercises but also exercises to begin to discover what a Next Act might look like
Our sophisticated retirement planning software will give us a very good idea of where we stand with income replacement and making sure we have plenty of resources that we can’t outlive – Our goal is to have an ever increasing retirement income strategy in place to keep up with inflation over a potential 20 or even 30 year retirement!
Once we’re comfortable that we should have sufficient income to work with over time, then we focus on a series of exercises to help us determine how we will spend our hours of retirement and Next Act! A typical transition may follow this course…Initial Retirement Excitement, Rest and Relaxation, then Re-Engagement into a Next Act – the Next Act may be a combination of volunteer work, mentoring others, working part time for pay as a consultant, and of course continued time with travelling and new hobbies – the important thing is to have a well-balanced plan for your Time each and every day through a combination of activities that you find fulfilling!
