Securing Your Financial Future: Retirement Planning
Retirement planning is a multifaceted process involving two key phases: accumulation and distribution. The ultimate goal is to ensure a comfortable retirement lifestyle. At Menninger & Associates, we specialize in guiding clients through both phases to achieve their financial objectives.
Learn More About Retirement Planning
Retirement Optimization: A Personalized Approach
A comprehensive understanding of your financial situation, including your tax profile, is essential for effective retirement planning. We analyze your existing retirement accounts and develop tailored strategies to maximize their potential.
Tax-Smart Withdrawal Strategies
Taxes can significantly impact your retirement income. Our expertise in tax-sensitive withdrawal strategies helps you preserve wealth and optimize your after-tax income. We provide clear visualizations to illustrate the importance of careful planning.
Accumulation Phase: Building Your Nest Egg
The accumulation phase focuses on growing your retirement savings. We help you make the most of tax-advantaged accounts like 401(k)s, IRAs, and Roth IRAs. By carefully assessing your financial situation and risk tolerance, we recommend investment strategies to maximize growth while mitigating risk.
Distribution Phase: Enjoying Your Golden Years
The distribution phase requires meticulous planning to ensure a sustainable income stream. We focus on optimizing withdrawals from your retirement accounts to minimize taxes and preserve your assets. Understanding the complex interplay between Social Security benefits, other income sources, and Medicare premiums is crucial. Our expertise in tax-efficient distribution strategies can help you avoid costly pitfalls and enjoy your retirement years to the fullest.
Why Work with an Advisor for Retirement Planning
It is never too early to start saving for retirement. Choosing to work with a Certified Financial Planner can help you leverage the appropriate tax-preferred opportunities during the accumulation phase of your life. Additionally, a Certified Financial Planner can help you fully understand the tax effects of withdrawing and using your retirement savings to create a plan that works for your life and avoids unintended consequences in the long run.
At M&A, we are well-versed in both phases of retirement planning, but we also help clients when they are deciding if and when they can retire. We assist in helping our clients understand the financial and non-financial impacts. We also work with our clients to develop a financial plan that demonstrates if they can retire on their current assets and/or develop a plan of action to pursue their goals.
