This guide will address the following concerns:
Have you signed up for Social Security benefits? Determining the best time to start collecting Social Security isn’t as straightforward as you might think. How healthy are you? Are you still working? What are the tax implications of drawing benefits sooner or waiting?
Even retirees are subject to income taxes. Have you thought about diversifying investments to minimize taxes? What is the ideal mix of taxable, tax-deferred, and tax-free assets for your circumstances?
You have finally made it to retirement; now, you want to make it last as long as possible. What is your plan to maintain good health? How will you stay active? Have you talked to your doctor about preventive measures and how to keep your ideal weight?
Preparation is critical for retirees interested in bringing their families together to discuss legacy plans. A multi-generational meeting is foundational to a successful wealth transfer process. Who from the family should attend? Where will multiple generations meet? Can we conduct the meeting around the holidays or at another time? What should be discussed during the meeting?