Family life, raising children, striving in careers, studying for school, saving money: A lifetime has many important milestones.
One of those that we frequently help people with is transitioning into retirement.
This transition is almost always scary.
You are going from earnestly squirreling money away, minimizing taxes, and making sure that the allocations are right, to starting to spend some of that nest egg and letting your income from work stop.
The question is often, "How do I do this?"
Now, there is a list of things that we go through, including social security, taxes, and estate planning, but the logistics are often where people have big questions.
As you are accumulating savings during working years, we begin putting together what you want your retirement picture to look like. Once you have saved enough money to where you can retire, we need to determine withdrawal strategies to provide the money that you are going to need to live. Then, we can help you get that money into your bank account, dependably, every month so that the groceries can be bought, the trips can be had, and the grandchildren can be spoiled!
Every day, we get pinged by our systems for clients whom we have money going out, and we diligently rebalance the account to ensure the money is available to them.
We also like our clients to have a simpler life, if possible, where they do not need to mail checks to the IRS and the state of Minnesota all the time. So, we like to have federal and state taxes withheld, and get that paycheck going from your various investment accounts, just like your paycheck when you were working.
We will also help you update beneficiaries and do tax planning. All the while, we are trying to be as tax prudent as possible with your distribution decisions and help you with the one-off purchases, weddings, etc.
We rarely meet someone that has unlimited resources and can do everything that they have ever wanted. We can help you prioritize and figure out what is possible, what is safe, and what might be too much of a stretch.
You can take some solace in the fact that we do this every day, and we're happy to help you through the process, so you don't have to worry about where your next dollars are going to come from.
It is an honor to help.