Retirees

Financial Growth

At or in the retirement stage of life, retirees focus on:

• Establishing a Will or Trust if needed or appropriate
• Implementing the income plan previously created
• Maintaining their pre-retirement lifestyle, when possible
• Preserving accumulated wealth
• Seeking modest growth of assets with minimal risk

Asset Protection

In retirement, asset protection involves:

• Establishing or revising a Will or Trust to ensure proper distribution of assets
• Maintaining appropriate insurance products
• Using appropriate asset allocation models to preserve investments

Retirement Planning

• Assess pre-established guidelines to make sure they are appropriate
• Emphasis now shifts from asset growth and accumulation to asset protection
• Maintain a goal of modest growth, taking into consideration of taxes and inflation
• Retirement planning in this stage involves and requires constant monitoring of all assets and implementing change when needed
• Follow the guidelines in the plan that has been previously established to maintain a comfortable lifestyle
• The retirement plan has or will be implemented

Income Planning

• Monitoring should be on a regular basis and should ensure that products, vehicles and strategies being used are working to achieve financial goals
• Plan should remain flexible and adaptable to current needs
• Pre-established income plan is implemented

The retiree(s) should meet with their financial advisor at least annually to determine if their financial plan continues to meet their needs.

Estate Planning

• At retirement there is often more time to focus on issues related to the estate plan
• Estate plan is the capstone of the financial plan
• Estate planning team may consist of:
• Financial advisor
• Investment specialist
• Specialized attorney
• Trust officer
• If an estate plan is warranted, the ideal time to create is at retirement
• Retiree can focus more cleanly on how the estate can pass to surviving heirs

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