Our products and services can be mixed and matched to create a plan that serves your needs. If you don’t see what you’re looking for, simply ask. We’ve seen a lot over the years, and it’s likely we can help with what you need or put you in touch with someone who can.
No two careers follow the same path. Similarly, no two retirements are quite the same either. Everyone has different goals, needs, and strategies.
We take the time to listen to your needs and formulate a plan to take you from the accumulation phase of your life to the distribution phase. According to one study, 29% of Americans believe they will outlive their retirement funds. ¹ That number jumps to 60% when you look at baby boomers. These fears, according to the data, are justified. This disparity, to say the least, is striking.
Whatever your plan is, whatever your retirement savings amount is, it is your money, and it’s important to you. Our firm can help you put together a retirement income plan. We’re ready to listen, and we’re ready to lend our experience.
1. Inflation and Retirement: Why Older Americans Are Worried | Money
We think investing advice still means something to clients, and we personally believe advisers do add value to plans and portfolios. Nothing can protect an individual completely from market volatility, but we align our clients’ portfolios with their risk tolerances to ensure that they’re comfortable with their wealth management choices. It’s all about listening, planning, executing, and monitoring the plan we have in place in partnership with the people we serve.
Research¹ has consistently found the best way to maximize returns across every level of risk is to combine assets such as stocks, bonds, and other fixed income securities. Once we understand your situation, we can begin to construct a plan, using different asset classes and instruments, products, and services to deliver a holistic strategy. We have a team of Certified Financial Analysts on board to help us compare your current portfolio with a suggested portfolio they create for you based on your own personal risk tolerance. With this comparison, you can easily see if your current portfolio is constructed in line with your tolerance for risk.
1. Modern Portfolio Theory: What MPT Is and How Investors Use It (investopedia.com)
Have you considered how taxes could impact the retirement income you’ve worked so hard to save? Don’t pay a penny more to the IRS than the law requires.
There are many ways to approach taxes when planning for retirement, and Bridges Wealth Preservation can help you navigate your choices to find the best strategy for you. We can work to optimize your income and investment strategies to help reduce your current and future tax burden, making sure you keep as much of your hard-earned money as possible.
We all hope we’ll never need it, but being financially prepared for long-term care is an important step in mapping out your retirement plan. In 2022, the average cost for a semi-private nursing home room was $94,900¹, making it one of the costliest expenses that can occur in retirement.
At Bridges Wealth Preservation, we believe it’s crucial to have a strategy for funding long-term care without draining your retirement assets. We can look at options to help discern which route is right for you so that you can worry less about the cost and focus more on your health and comfort.
1. Cost of Long Term Care by State | Cost of Care Report | Genworth
The goal of estate planning is to help you ensure the wishes you have for your assets are met. After over 35 years in the business, we’ve seen a lot and know the importance of having your estate and legacy properly allocated.
The concept of estate planning is a simple one, but the vehicles, planning, and implementation processes can be quite complex. We can walk you through the process to help provide added peace of mind for your legacy.
Many retirees choose to roll over their 401(k), pension, or other work-sponsored accounts into an independent retirement account. With so many different options to choose from, individuals can often feel overwhelmed and make choices that are less than optimal for their financial situation.
Bridges Wealth Preservation helps retirees understand the pros and cons of their choices so they can make decisions that help them work toward their financial goals in retirement.
Social Security is the United States’ federal Old Age, Survivors, and Disability Insurance (OASDI) program. ¹ It’s overseen by the Social Security Administration. The program is complicated, but essentially, if someone has paid into the program for 10 years or more, they’re eligible to receive benefits starting at the age of 62. If a person chooses to defer their Social Security they’re eligible to receive a higher monthly benefit. This means some people wait until 67 or even 70 before they begin drawing on Social Security. Everyone will have a different plan depending on their income needs and specific situation.
There are also options for survivors’ benefits and disability benefits available through Social Security to qualifying participants. The program—in effect since August 14, 1935—has changed over the years to continue to provide security for retirees. Because it’s an old program, and because the rules have been changed many times and grown in complexity, it is important you speak to a professional who could help you map out what you can expect from the program (as well as what you can’t count on).
Call our team. We’re versed in the seemingly complicated and upsides of the Social Security program!
1. Old Age, Survivors, Disability Insurance (OASDI) Program Basics (investopedia.com)
Fill out the form below to schedule a complimentary consultation, and we will be in touch shortly!
"*" indicates required fields