Living in Retirement
You’ve worked hard to save money and prepare for a comfortable retirement. Hunt Valley Wealth can help you make the most of it.
The shift from your working years to your retirement years is a big one—both financially and emotionally. Not only do you need to maximize your financial potential to afford the retirement you deserve, but you want your retirement years to be emotionally fulfilling.
At Hunt Valley, our goal is to help you feel comfortable before and during the transition into retirement, so your golden years are just that: golden.
A soon-to-be-retiree came to us because he was struggling with the upcoming transition into retirement.
He was comfortable with the decision to retire but was unaware of several planning strategies that could positively impact the financial legacy he plans to leave behind. He was also very interested in making philanthropy a focal point of his retirement. Getting to retirement takes planning, and the further you get in retirement, the more important your planning strategy becomes.
Over the course of several conversations, we worked together to come up with a plan that would protect as much of his money from market and economic downturns as possible. We also took strategic steps to help lower his tax burden in retirement and helped him prepare for the emotional changes that lay ahead.
How We Helped
- Reviewed and updated his existing financial plan to account for potential changes in spending during retirement (e.g., additional travel)
- Evaluated his Social Security benefits to optimize his income during retirement
- Discussed philanthropic and estate planning options that would help him leave his unique mark on the world
- Audited and suggested updates to his insurance coverages to bridge some coverage gaps
- Advised him on tax-efficient ways to manage his cash flow in retirement
- Implemented our income strategy for retirees which will protect his portfolio from the sequence of return risk if he were to remain fully invested
- Minimized his tax burden and maximized his after-tax spending through strategies such as qualified charitable distributions
Ready for a personalized approach to wealth management?
Speak with a Hunt Valley Wealth Advisor