Planning for a solo retirement is more important than ever, with …
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Retirement Planning
Regardless of where you are in your career, today is when you should be taking action on your retirement savings. An increased lifespan means we need even more resources at our disposal if we want to live comfortably beyond our employment. Changes in employer-sponsored retirement plans have shifted much of the responsibility from the employer to the employee for individual long-term retirement funding. At Biondo Investment Advisors, our financial advisors can help you prepare for this most significant milestone while factoring in your other savings objectives, like purchasing a house or funding a college education for children, and ongoing financial responsibilities.
Retirement Planning
Building Your Personal Retirement Plan
Retirement planning begins while you are still working and can benefit from time and compounding interest to grow your savings. Our approach is to have a clear vision of your financial goals to ensure we focus on your priorities.
Everyone wants to retire someday, and having the confidence to know when is probably one of the greatest concerns most of people have. Can I afford to retire? Have I saved enough for retirement? How much longer do I need to work? How much more should I save? Our financial advisors help you answer these difficult questions by utilizing WealthMap, an interactive tool that illustrates retirement savings projections, so you can understand the financial decisions that may influence your retirement lifestyle. We review scenarios in real time, year by year, and discuss the implications of adjusting contributions, portfolio risk, changing personal spending, or factoring in health care costs to ensure you stay on track to meet your goals.
Retirement Planning
How do I use different retirement account options to reach my target?
Roth IRA or Traditional IRA? 401(k), 403(b), or SEP IRA? Should I roll over my 401(k) into an IRA or leave it at my old employer? The alphabet of employer-sponsored and personal retirement savings plans can be overwhelming. These are key pieces of your plan, and having the right combination of retirement accounts and plan strategies can have implications for your long-term success.
Asset management and tax planning are strongly linked to retirement planning. We help navigate the choices regarding asset allocation and asset positioning across various accounts, as well as the right mix of taxable and non-taxable accounts to best align with your goals.
Retirement Planning FAQs
What will my retirement look like?
Your last day of work isn’t the finish line in the retirement planning process. When you transition into retirement, your plan will focus on an income distribution strategy that provides you with a “retirement paycheck.” Our financial advisors closely monitor your various resources to help ensure continued growth, adjust to offset economic fluctuations, and adapt to unexpected changes in your personal life so you don’t outlive your income.
Deciding how and when to take distributions from your retirement plans is an important decision for many retirees. Our financial advisors help you understand the complexities and tax implications of penalties for early withdrawals, required minimum distributions (RMDs), and when to begin Social Security benefits.
A Retirement Plan That is Adaptable and Dependable
Retirement planning is an ongoing process that starts by talking with one of our trusted financial advisors about your personal financial goals. Whether you’re 45 or 65, it’s an opportunity to envision the life you want to live and find the guidance you need to build a successful retirement plan. Together, let us put in place a strategy that will give you confidence and peace of mind now and throughout your retirement years.
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