Financial Planning for Retirement

Achieving a successful retirement takes more than just accumulating funds in your retirement accounts. Our comprehensive financial plan incorporates all of the aspects necessary to make a smooth transition into retirement including risk management, tax planning, investment management, and estate planning.

When creating your financial plan, our fiduciary advisors will work in conjunction with your established team of professionals. Together, we will develop a plan based on your current age, financial decisions, income streams, retirement goals, and your anticipated retirement budget as well as the following retirement income considerations:

• Adjusting your retirement income for inflation
• Optimizing employer retirement plan contribution and distribution strategies 
• Exploring whether you want to continue working throughout your retirement
• Evaluating employer pensions and severance pay
• Optimization, contribution, and distribution strategies for 401(k)s and other personal savings and investments
• IRA and Roth IRA funding and utilization strategies
• Factoring in Social Security benefits
  • Early Social Security benefits (age 62)
  • Full retirement age (FRA) Social Security benefits (age 66-67)
  • Maximum value for Social Security (age 70) 
• Medicare (age 65)
• Required Minimum Distributions (RMDs) (age 72) 
• Rental income 
• Life insurance policies
• Your desires for transferring wealth, your estate, and gifting 
• And more

Each of these points needs to be taken into account when establishing a realistic financial plan for retirement. Hiring a fiduciary financial advisor from Avidian Wealth Solutions can take the guesswork out of planning in an effort to help protect your retirement savings from rising prices — giving you space to enjoy the wealth and security you worked so hard to build.

In many cases, diversity is key when it comes to planning your retirement income sources and providing you with a greater sense of security. Helping our clients navigate their options is an integral part of Avidian’s financial planning for retirement strategy. Our financial advisors regularly monitor our client’s investment portfolios and discuss adjustments when necessary.

Ideally, your retirement accounts, investments, and savings should be able to provide 25 to 30 years of sustainable retirement income streams. This can include anything from portfolio withdrawals to cash withdrawals from your retirement accounts. Regardless of where the money comes from, our team of financial advisors can help you plan ahead with the goal of creating and maintaining a stable stream of retirement income from multiple sources lasting throughout the entirety of your retirement. We can also provide insight on any questions you might have regarding which assets to liquidate first, investment management, how inflation might affect your savings, planning for unexpected expenses, and more.

For many of our clients, ensuring their wealth is secure for their beneficiaries is a crucial component of a retirement plan. At Avidian, estate planning and generational wealth management are part of our comprehensive financial planning services. We can work directly with your estate lawyer to build a tax-sensitive wealth transfer plan designed to safeguard your accumulated wealth and assets.

Our estate planning financial advisors focus on the numerous details of estate planning to help meet your long-term goals. This typically includes your:

• Assets
• Will
• Trusts (revocable, irrevocable, multigenerational, charitable, etc.)
• Beneficiaries
• Life insurance policies
• Retirement tax laws
• Business succession plans
• Business merger and acquisition plans
• Marital agreements
• Guardianship plans

Note: Trusts and wills should be created by and/or in conjunction with an attorney. While Avidian does not create these documents, we can work closely with your attorney to make sure all records remain up-to-date and in-keeping with your goals.

Retirement accounts and investment portfolios can act as long-term shelters for your hard-earned wealth. Creating a tax-advantaged strategy on your own can be difficult. Working with Avidian’s financial advisors takes the challenge out of it. When creating high-net-worth tax strategies, we take into account the current tax laws and use a conservative, time-tested approach to help you meet your retirement goals efficiently and effectively.

Your team of financial advisors at Avidian can advise you on several key areas of tax planning including:

• Understanding the impact of taxes on withdrawals
• Managing short- and long-term capital gains
• Annual tax-loss harvesting
• Strategic tax return reviews
• Determining which retirement account is most appropriate for your needs between a tax-deferred account (traditional 401(k) and traditional IRA) or a tax-exempt account (Roth IRAs and Roth 401(k)s)
• Tax-efficient retirement income strategies 
• Developing estate tax strategies and tax-efficient gifting strategies

The best financial strategy for you and your goals will depend heavily on your individual circumstances. Taxes may be unavoidable, but at Avidian, we create financial plans designed in a tax-efficient way that helps you make the most out of your income.