Assisting Business Owners, Executives, and Families Plan for Retirement
Generally speaking, there are three phases of retirement planning: the accumulation phase (ten or more years prior to retirement), the transition phase (five years prior), and the preservation phase, which lasts throughout all of the years of retirement.
At Rhodes & Associates, we frequently work with clients in the middle and final phases - transitioning into and living in retirement. They have built up their assets and want to create strategies that will provide them with income guarantees. They want to enjoy their retirement and maintain their lifestyle, as opposed to worrying about market corrections or running out of money.
We believe the transition into retirement can often be the most stressful and complicated phase. While in this phase, which traditionally occurs in those five years before retirement, it’s important to identify and capture certain opportunities, including needs, objectives, and the client’s vision of a successful retirement. This middle phase is where we typically begin our working relationship with new clients, guiding them through the transition and assisting them thereafter as they live in retirement.
As you transition towards and prepare for retirement, you’re faced with a new set of decisions, such as determining when you’ll claim Social Security, how to minimize taxes on your investments, how to create a consistent stream of income that matches your lifestyle, and how to leave a legacy to your family and loved ones. This can be overwhelming for many, which is why it’s critical to have a strategy that is customized to your unique situation.
At Rhodes & Associates, we can assist with retirement income planning and investment counseling. We help clients understand
There are two options:
- Retain the risk themselves
- Transfer some risk to a company provider for a small premium.
*Income guarantees are contingent on the claims paying ability of the issuing insurance company.