By evaluating the current state of your finances and defining your goals—before and during retirement—we develop strategic plans for replacing income in retirement.
Securing the financial future you envision for your retirement years requires preparation and continuous due diligence. That’s why it’s vital to consult with experts to help you fit all the puzzle pieces together to create a well thought out plan for replacing income in retirement.
Working as your partner, your Cannon advisor helps you explore your values and how they relate to your financial resources. From there, we identify specific objectives and define your acceptable level of risk. Only then do we create a defined retirement plan based on your risk/reward outlook.
Preparing for the Demands of Your Financial Future
Our individual or family retirement planning sessions are designed to evaluate and develop a written retirement plan that might include, but is not limited to:
- Accumulation Strategies. Creative strategies to maximize pre-tax and Roth savings in an effort to increase tax-preferred account balances prior to retirement (spouse’s accumulation plan would also be reviewed)
- Social Security Planning. Develop a written plan for maximizing Social Security benefits
- Coordinated Retirement Income Plan. Comprehensive income illustrations will factor in Social Security, pension benefits, retirement plan assets and outside assets (spouse’s information would be included for a family plan).
- Investment Allocation Recommendations. Incorporate investment recommendations into an accumulation and distribution plan, combining desired income levels with risk tolerance to develop a suitable investment mix for pre and post retirement.
- Healthcare Planning. Provide recommendations encompassing the institutions Health Savings Accounts, pre-Medicare eligibility retirement and Medicare.
Cannon Financial Strategists can provide a turnkey solution by implementing your retirement plan through our asset management services.
Post Retirement Support
Distribution and investment decision making in retirement can have an extraordinary impact on the success or failure of a retirement plan. Individuals are faced with longevity and morbidity risk which are difficult to deal with on their own. Emotional investing during times of market volatility can cripple a portfolio designed to sustain retirement income. These factors sometimes leave retired employees susceptible to financial predators selling high cost products and other unsuitable investment alternatives. In order to address these concerns, Cannon often works with individuals through retirement to get a household retirement ready.
Plan execution is only one component of having a reasonable lifestyle post retirement. We can also provide:
- Ongoing distribution plan evaluation
- Ongoing investment allocation evaluation
- Post-retirement Roth conversions, if suitable
- Required Minimum Distribution monitoring and communications
- Beneficiary counseling
- Counsel on morbidity and longevity risk