Make the Most of the Retirement You Have Built
Retirement does not mean financial planning stops. Your income needs, healthcare expenses, tax situation, investments and family priorities may continue to change over time.
EFC Wealth Management helps retirees review their financial position, identify potential planning gaps and make informed decisions based on their evolving needs and long-term objectives.
Investing involves risk, including the possible loss of principal.
Does Your Retirement Plan Still Fit Your Life?
A retirement strategy created several years ago may not reflect today’s markets, expenses, tax laws or personal circumstances. Regular reviews can help determine whether your plan remains aligned with your goals.
- Is my retirement income meeting my current expenses?
- Are my withdrawals structured appropriately?
- Does my investment risk still match my needs?
- Have I accounted for inflation and healthcare costs?
- Am I taking required minimum distributions correctly?
- Are my beneficiaries and estate documents current?.
- Could my savings support a longer retirement than expected?
A structured review can help you better understand your current position and the decisions that may lie ahead.
Five Areas to Review During Retirement
Retirement Income
Your income may come from Social Security, pensions, retirement accounts, investments, savings and insurance products. We help you evaluate your income sources, withdrawal needs and expected expenses while considering inflation and longevity.
No income strategy can eliminate every financial risk or guarantee that assets will last throughout retirement.
Investment Management
Your investment strategy should reflect your current income needs, time horizon, liquidity requirements and ability to tolerate market fluctuations.
We can help review your asset allocation, portfolio risk, diversification and withdrawal strategy. Recommendations are based on your individual circumstances when provided through an advisory relationship.
Diversification and asset allocation do not assure a profit or protect against loss.
Tax-Aware Withdrawals
<p>Withdrawals from traditional retirement accounts, Roth accounts and taxable investments may receive different tax treatment. Required minimum distributions and Social Security benefits may also affect your overall tax position.</p>
<p>We can help coordinate planning considerations with your qualified tax professional. EFC does not provide tax advice, and tax laws may change.</p>
Healthcare & Long-Term Care
Healthcare needs and expenses may increase during retirement. Planning may include reviewing Medicare coverage, supplemental insurance, prescription costs, out-of-pocket expenses and potential long-term care needs.
Insurance availability, benefits and costs vary. Product guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
Legacy Planning
Your legacy plan should continue to reflect your wishes. A review may include beneficiary designations, account ownership, insurance coverage, charitable objectives and coordination with your estate-planning attorney.
EFC does not prepare legal documents or provide legal advice.
When Should Retirees Review Their Plans?
Consider scheduling a review when:
- Your income or expenses have changed.
- You are concerned about market volatility.
- You have reached required minimum distribution age.
- You have experienced a major health or family event.
- You are considering a significant purchase or gift.
- Your beneficiaries or legacy priorities have changed.
- Your retirement strategy has not been reviewed recently.
Periodic reviews do not guarantee financial success, but they may help identify areas requiring further attention.
Your Retirement Review with EFC
We begin by understanding your present lifestyle, financial needs and future priorities. We then review relevant income sources, expenses, investments, retirement accounts and insurance coverage.
When appropriate, EFC can develop personalized recommendations and help you monitor your strategy as your circumstances evolve.