Retirement planning involves assessing your current financial situation and creating a strategy to achieve your desired retirement lifestyle. This typically takes priority over other financial goals, given the potentially lengthy duration of retirement. A successful plan should focus on growing asset in a tax-efficient way. There are many ways to do this. Some options include qualified employer-sponsored plans, IRAs, personal savings, and executive deferral plans. These may not be enough to support your desired lifestyle. Identifying a retirement gap can tell you if you need to develop a strategy for personal savings outside of traditional retirement vehicles. 

Retirement is often referred to as the distribution phase. Sequence risk is the danger that the timing of withdrawals from a retirement account will damage the account's return. This is why we encourage everyone to have a financial plan. If you are taking withdrawals from your portfolio, the order or the sequence of investment withdrawals can impact your portfolio's overall value. Sequence of return risk is real, and it needs to be planned for as early as possible in the financial planning process. 

It’s always best to start planning for your financial future sooner rather than later. Contact us to schedule a consultation and begin the journey towards achieving your financial goals.