Retirement
Your Financial Roadmap For the Next Chapter
You’ve worked hard to get here—now it’s time to make sure your finances are aligned with the retirement lifestyle you’ve been dreaming of. At this stage, it’s all about shifting your mindset to focus on stability and longevity. Nelson Murphy is here to guide you through the transition, from smart investment strategies to optimizing Social Security and planning for healthcare.
Transitioning to a Conservative Investment Strategy
As you approach or enter retirement, preserving your wealth becomes the priority. Your investments should reflect this shift. Nelson Murphy can help you transition from aggressive growth to a more conservative approach, balancing safety with ongoing growth.
How We Help:
- Reduce Risk: We’ll evaluate your portfolio and recommend adjustments to protect your savings while still generating income.
- Income-Producing Investments: Options like bonds, dividend-paying stocks, and annuities can provide steady income in retirement.
Have You Saved Enough to Support Your Retirement Lifestyle?
The big question as you near retirement is whether you’ve saved enough to live the way you want. This is where Nelson Murphy’s expertise comes in. We’ll help you review your financial situation and ensure you’re on track to maintain your desired lifestyle throughout your retirement years.
Spending Plans
We’ll create a retirement budget to help you balance daily living expenses with your savings.
Longevity Planning
We ensure your financial plan supports you for the long haul, adjusting for inflation and unexpected expenses.
Withdrawing From Retirement Accounts: When and How?
Once you’re retired, it’s time to start drawing from your retirement accounts. But how and when you withdraw can make a big difference in how long your savings last.
Required Minimum Distributions (RMDs):
We’ll guide you through the rules of when and how much to withdraw from your retirement accounts to avoid penalties.
Tax-Efficient Withdrawals:
Withdrawing from different accounts (401(k), IRA, Roth IRA) in the right order can save you on taxes. We’ll help you strategize for tax efficiency.
Optimizing Social Security: Get the Most From your Benefits
Maximizing your Social Security benefits is a key part of your retirement strategy. The age you start taking Social Security can have a big impact on your monthly benefits, so it’s important to choose wisely. Some key considerations:
Timing:
We’ll help you decide the best age to start taking benefits, based on your financial needs and life expectancy.
Spousal Benefits:
If you’re married, we can help you explore options for maximizing combined benefits.
Healthcare in Retirement:
Plan For the Unexpected
Healthcare costs can be one of the biggest expenses in retirement, but with the right planning, you can protect yourself from financial strain.
Medicare
We’ll guide you through Medicare enrollment, explain coverage options, and help you choose the right plan.
Long-Term Care
Planning for potential long-term care expenses is essential. We’ll help you explore insurance options or other ways to cover these costs.
How Nelson Murphy Can Help You Enjoy Retirement With Confidence?
At Nelson Murphy, we know that retirement looks different for everyone. Whether you’re traveling the world, starting a new hobby, or simply relaxing, our team is here to help you enjoy this stage without worrying about your finances.
Conservative Investment Strategies
We’ll help you protect and grow your savings while generating retirement income.
Income and Withdrawl Planning
We’ll ensure you’re withdrawing from your accounts in the most efficient way to stretch your savings.
Comprehensive Healthcare Planning
From Medicare to long-term care, we’ve got your healthcare costs covered.
Ready For the Next Chapter?
Nelson Murphy is here to help you navigate retirement with confidence and security. Schedule a consultation today, and let’s make sure your financial plan supports the retirement lifestyle you’ve earned.
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