Retirement Planning
Secure Your Future With Confidence
Retirement is more than just a destination—it’s a journey that requires careful planning to ensure your financial stability and peace of mind. At Nelson Murphy, we specialize in creating personalized retirement plans that help you generate income, minimize taxes, and protect your wealth, so you can enjoy life to the fullest. Services are designed to help you feel confident and prepared. We take a holistic approach so you can focus on what matters most: living your best life.
Our Retirement Planning Services:
- Income Planning
- Tax Strategies
- Insurance Strategies
- Social Security Maximization
- Estate Planning
Retirement Planning
Secure Your Future With Confidence
Retirement is more than just a destination—it’s a journey that requires careful planning to ensure your financial stability and peace of mind. At Nelson Murphy, we specialize in creating personalized retirement plans that help you generate income, minimize taxes, and protect your wealth, so you can enjoy life to the fullest.
Income Planning:
Ensuring a Steady Income in Retirement
One of the biggest challenges in retirement is ensuring that your savings last. Our retirement income planning strategies are designed to help you maintain a steady income throughout your retirement years, giving you the security you need.
What we focus on in retirement planning:
Withdrawal Stratagies
We’ll help you develop a plan for drawing down your retirement accounts in the most efficient way, so your savings last as long as you need them.
Pensions & Annuities
If you have a pension or are considering an annuity, we’ll help you understand your options and incorporate them into your overall retirement income plan.
Sustainable Spending
We’ll work with you to create a spending plan that balances your lifestyle goals with your financial realities, ensuring you have enough income to cover both your essentials and your dreams.
Tax Planning:
Tax Efficient Retirement Decisions
When it comes to retirement, taxes can eat into your savings if you’re not careful. Nelson Murphy’s tax-efficient strategies are designed to help you minimize the amount you owe while maximizing the benefits of your retirement accounts.
Key Tax Efficient Strategies:
Optimal Account Withdrawals: We’ll help you determine the best order for withdrawing from taxable, tax-deferred, and tax-free accounts to minimize taxes.
Roth Conversions: In certain situations, converting a traditional IRA to a Roth IRA can reduce your future tax burden. We’ll analyze whether this strategy makes sense for you.
Minimizing Required Minimum Distributions (RMDs): Once you turn 73, you’ll be required to take distributions from your tax-deferred accounts. We’ll help you plan for these in the most tax-efficient way.
Protection Strategies:
Safeguarding Your Retirement
Retirement can bring unexpected expenses, particularly related to healthcare. Nelson Murphy helps protect your assets from being depleted by these costs, ensuring your financial plan remains secure.
Protective Measures We Recommend:
Long-Term Care Insurance: We’ll help you explore your options for long-term care insurance, so you’re covered if you need extended medical care later in life.
Life Insurance: Even in retirement, life insurance can be an important tool for protecting your loved ones and ensuring that your legacy is preserved.
Asset Protection: We focus on strategies that help shield your assets from market volatility and unexpected healthcare costs, keeping your wealth intact.
Social Security Maximization:
Getting the Most out of Your Benefits
Social Security can be a critical part of your retirement income, but knowing when and how to claim benefits is key to maximizing your lifetime payout. We’ll help you understand your options and develop a strategy that maximizes your Social Security benefits.
Here’s How We Help:
Timing Your Benefits: The age at which you start claiming Social Security can impact your monthly benefits for the rest of your life. We’ll help you determine the best time to start, based on your overall retirement plan.
Spousal Benefits: If you’re married, coordinating your Social Security benefits with your spouse can lead to higher lifetime payouts. We’ll analyze your options to ensure you’re maximizing these benefits.
Impact on Other Income: We’ll guide you on how Social Security works alongside your other retirement income, helping you avoid penalties or unnecessary taxes.
Retirement Planning:
Why Nelson Murphy?
Retirement planning can be complex, but with Nelson Murphy by your side, you can move forward with confidence. We offer a comprehensive, personalized approach that considers all aspects of your retirement—income, taxes, protection, and Social Security—ensuring you have a solid plan for the future.
Ready to Start Planning?
Contact us today to schedule a consultation and learn how we can help you build a secure, tax-efficient retirement plan that lets you enjoy the next chapter of your life.
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