Plan your retirement. Create income.
It can be hard to know when you can retire and how to make your money last in retirement; especially when you've never done it before.
A 2017 investor study by Dimensional Fund Advisors identified running out of money in retirement as the top concern for investors who had between $1 million to $5 million in investable assets.
That's where Covenant Wealth Advisors' retirement planning advice can help. Together, we'll develop a personalized plan that helps you retire with confidence. From creating retirement income projections, to deciding when to take social security, to analyzing pension decisions, to preserving your investments, retirement planning gives you the advice you need to retire with confidence.
Whether you are within 10 years of retirement or currently retired, we can provide the financial security and peace of mind you want.
Why do I need retirement planning advice?
I want to know when I can retire.
Retirement income planning can help you understand when you can retire. Our advanced retirement projections allow us to stress test your complete financial picture against your retirement goals. You'll find out when you can retire with a high degree of confidence.
I want to build the retirement I envision.
Everyone has different visions and aspirations for retirement. Our retirement planners begin every relationship by clarifying your goals and prioritizing what's important to you. Your goals become the foundation for your personalized retirement plan.
I want to generate retirement income.
Your lifestyle partially depends on your ability to create income. When you retire, you'll need to transition from a work "paycheck" to a portfolio "paycheck". We'll develop retirement income strategies to help fund the lifestyle you want.
I want to determine a sustainable distribution rate.
A successful retirement depends heavily on the right percentage of your portfolio that you are going to draw from each month in retirement. We look at your sources of income, review your assets and investments, analyze your tax situation, and project how much you'll be spending in retirement. Our financial planners will calculate your distribution rate based on all of these factors.
I want to know when to take social security.
Identifying the right social security strategy may improve your lifetime income by over $100,000. We can help you determine when to take social security, so you don't leave money on the table.
I want to know how to reduce taxes in retirement.
Unfortunately, when you retire, the government will want payback in the form of required minimum distributions. But determining when to take your distributions can either increase or decrease your taxes. We’ll help reduce your tax obligations by analyzing tax-advantaged vehicles and tax efficient income distribution strategies. Roth IRAs, Health Savings Accounts, and tax-managed investing can make a big impact.
My investments aren't aligned with my long-term goals.
Stock market downturns can have catastrophic consequences when they occur early in retirement. If you don't have a well implemented investment plan, it's possible you won't recover. We'll design a retirement portfolio personalized for your unique needs, income, tax bracket, and personal tolerance for risk.
I don't know the return I need on my retirement portfolio.
The return you get on your retirement nest egg is a big factor when projecting your retirement income. We'll help you calculate the returns you need in retirement. Then, we'll design and manage an investment portfolio that gives you the highest probability of achieving the returns you need. While no returns are guaranteed, we leverage Nobel Prize winning economic research to give you the best chance at success.
Excellent Partnerships. Better Advice.
Contact us to talk to a financial advisor.