PRE-RETIREMENT PLANNING

A comprehensive financial plan that analyzes the client’s current financial situation, identify ways to improve your financial situation and achieve financial goals without forfeiting your retirement goal.  A key strategy to accumulate a retirement nest egg is to begin saving early and invest regularly.  Additionally, the pre-retirement plan focuses on:

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• Setting & Quantifying Goals

• Cash Flow analysis

• Risk management

• Investment planning

• Tax planning

• Estate planning

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Another component of the pre-retirement plan is an analysis of the client’s investment portfolio to ensure the proper allocation of assets to achieve an adequate return while mitigating risk-taking into account the client’s risk tolerance, timeframe, and financial resources.

 

RETIREMENT PLANNING

Pre-Retirement planning can be characterized as the Accumulation Phase of saving to meet numerous financial goals including retirement.  Retirement Planning incorporates two additional critical phases to ensure a client achieve their Lifestyle retirement:

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• The transitional phase -- a period when putting together the building blocks for long-term guaranteed income in retirement is so important. (5-10 Years before retirement)

• The Income Phase – A determination of the retirement income need and income sources over the client’s life expectancy.

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In assessing the client’s retirement income needs, the first step is an assessment of the current lifestyle and income requirements and percentage (%) of current income required to maintain the client’s anticipated lifestyle retirement income needs.  Retirement planning includes:

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• Clarifying & Quantifying Goals

• Current Levels of income & Expense assessment

• Project long-term lifestyle retirement income needs

• Anticipated Sources of retirement income

  • Employer-sponsored retirement plans

  • Social Security

  • Individual Savings/Investment

• Tax Planning Strategies

• Healthcare Needs

• Medicare

• Long Term Care

• Distribution & Withdrawal Strategies

• Estate Planning Considerations

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 Download your copy of the  "Retirement Lifestyle Workbook"

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RISK MANAGEMENT ANALYSIS

Risk management is an important aspect of the financial planning process.  Personal risk management includes the potential loss of income, poor health, unemployment, loss of life, property damage/loss, lawsuits, and damage to other’s property.

 

One of the greatest risks an individual face is the loss of income and the inability to provide the financial needs of self or their family.  One of the most popular ways to manage risk is through the transfer of risk using insurance. Evaluate and ensure you are protected from the following financial losses:

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• Disability

• Loss of Life

• Homeowner & Auto

• Long-term Illness

• Lawsuits

• Appropriate Business Coverage (if applicable)

 

ESTATE PLANNING

Estate Planning should be a concern regardless of age.  In conjunction with an Estate Attorney, we help to formulate an estate plan to ensure your assets pass according to your wishes and minimize taxes. E. Roger Financial will coordinate meetings with an estate attorney.  Some of the essential documents completed by the attorney include Wills, Durable Powers of Attorney, Trusts, and Advance Medical Directives.

 

INVESTMENT ADVISORY

A significant feature of the investment advisory service is to ensure your investments as put to optimal use.  Additionally, we take extraordinary measures to ensure that the client understands each investment and how it fits into the overall investment portfolio to maximize return and minimize risks.