Transform Your Olden Years Into Your Golden Years

Life Stage Priorities

    • Financial Growth25%
    • Asset Protection100%
    • Retirement Planning100%
    • Income Planning100%
    • Estate Planning100%

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

Schedule your appointment with the Compass Financial Team today.

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