You’ve worked hard and invested wisely, but you have new questions…
As older adults begin to approach retirement, new concerns arise. Unexpected circumstances may require you to adjust your plans, or you may be wondering how you will know when it is the right time to retire. At Monarch Advisory Group, we are here to make the complexities of retirement planning easy to understand, so you feel empowered to make the financial decisions that are right for you.
Retirement Planning requires careful diligence and preparation
After spending decades working, saving and investing for your retirement, you want to make the best decisions possible near the end of your career. We will help you evaluate the most common issues facing adults in the second half of life:
The Monarch Way – Holistic, Strategic, and Transformational
At Monarch Advisory Group, we never take a one-size-fits-all approach. Our financial strategy and investment recommendations are always tailored to you, considering your entire financial picture and your personal risk comfort level.
Once we have a clear plan, it is time to move forward. Through LPL Financial, we offer access to a full complement of asset classes and investment alternatives from the nation’s largest independent broker-dealer*, so we can deliver the highest level of services to our clients.
When we help our clients navigate the transition into retirement, our goal is to eliminate worry and replace it with hope and confidence through education.
* As reported in Financial Planning magazine 1996-2015, based on total revenues
My employer is offering me a buyout. Is it a good deal? Often employers who need to downsize will offer employees a financial incentive to leave the company voluntarily. If you are considering this option, we will help you determine if this is a good opportunity for you based on a variety of factors. We will consider how the severance package will be received, possible tax implications, changes in health insurance costs, as well as an analysis of your future earnings capability. If you are not ready to retire, your earning power may be reduced, creating a part-time retirement or “working” retirement.
I lost my job, but I wasn’t planning on retiring yet. Could I? Unfortunately, an unexpected job loss after age 55 can make reemployment a challenge. We will help you evaluate whether you can afford to leave the workforce, or if you need to seek new employment. We will assess your investments, income prospects, access to health insurance, and other factors that help you determine your retirement readiness.
Are we there yet? How will I know when I’ve reached the finish line? We will do a detailed analysis of the assets you have, and what kind of income that will generate over time with some assumptions about your lifestyle and spending habits. We will help you consider the true cost of living, and how that is likely to rise over time. We will then compare it to your projected income with your current investments and other retirement funds to come up with a reasonable estimate of how long it would last.
I just retired. How much can I spend?If you have not done the analysis before retiring, you need an understanding of how long your funds are likely to last, based on your desired lifestyle. We will show you how various spending plans will impact the longevity of your retirement funds, so you can make the spending decisions that are right for you.
Should I take a lump sum or annuity payments from my pension plan?This is a complicated decision that requires analysis of two key factors: the stability of the pension fund, and the cash flow that reinvesting a lump sum could generate. Our guidance can help you make an informed choice.
I am ready to retire, but how do I generate cash flow without a paycheck? We will show you how to create your income stream from all sources, including your investments, pensions, and social security. We will help you evaluate the right time to start drawing your Social Security benefits, and how that will impact your payments. Since your tax situation is likely to change in retirement, we will analyze the best strategy for using your retirement funds to help your money last longer.
A new kind of family planning. Retirement can be a great time to think about how your family has evolved and update your estate plan. You may also have adult children or grandchildren that you would like to help out financially, so we will show you how much you can gift to your loved ones without tax implications.