Sean Connor

What's your idea of financial security?

Sean Connor
Keizer, OR
Tuesday, December 1, 2015

Easing Into Retirement

Learn how to make your transition to retirement smooth

Achieving a secure retirement takes a lot of planning and saving during your working years. But don’t make the common mistake of thinking when you stop working that your retirement will take care of itself. A successful retirement takes planning, even as you approach the home stretch. So, as you move closer to the time when you’ll finally leave your job behind, consider what you can do to make the transition easier.

Figure out your net worth

Before you plan anything, you need to know exactly where your finances stand. By listing your assets and debts, a net worth statement can show you exactly how much money you’ll have to work with. You’ll see whether you’re making progress toward eliminating debt and saving enough to reach your goals.

You can determine how much you need to save each month to reach your retirement goal with our Destination Retirement calculator.

Review your asset mix

As retirement approaches, you may want to move some of your money into less risky investments. However, don’t eliminate all stocks from your portfolio just because you think you need to preserve your principal at all costs. Your retirement could last a long time. You’ll want investments with the potential to earn returns that will keep you ahead of inflation while staying within your risk tolerance.

Take our Asset Allocation Quiz to get a suggested allocation for your investment dollars.

Know what you’re getting

Check on any benefits you’ll receive from your employer at retirement. Will you be entitled to health insurance as a retiree? If not, you’ll have to plan for the expense of providing your own. Even after you’ve signed up for Medicare, you may still want to buy a supplemental policy. And, if you participate in a retirement plan or have IRAs, become familiar with your distribution options and requirements before you decide on the best one for your situation.

Consider taxes

You may be in a different tax bracket once you retire, and that may affect your withholding and the deductions you can claim—possibly for the better. Since you’ll no longer be having income tax withheld, you’ll probably have to pay quarterly estimated income taxes. And, keep in mind that changing your asset mix may have tax consequences.

Let me make it easy

When it’s time to retire, I’m here to give you the guidance to make the right decisions. Questions about using what you’ve saved, plan benefit options, and how to maximize your resources can be intimidating, but I’ll work with our team of retirement professionals to design a detailed tangible plan around your retirement income needs.

If your retirement is on the horizon, let’s get together soon to create a plan that will help to make your retirement everything you’re hoping it will be.

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