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Whom We Serve

Investment Management and Tax Planning for Retirees

As you review my services, you may wonder “Has he worked with retirees in a similar position as myself?” Below are some situations I’ve found to benefit from investment management and tax planning for retirees.

Perhaps one is similar to yours?

Approaching Retirement

John is looking forward to retirement in twelve months, but wants to make sure finances don’t distract him and his wife, Anne, from time spent with family, travel, and volunteering. Anne is a retired teacher and receives a pension from STRS Ohio. John has saved diligently throughout his career and has always managed his 401k, Anne’s 403b, and Anne’s Roth IRA. Now that retirement is right around the corner, he’s concerned their portfolio may be too aggressively positioned. In addition, he no longer wants to spend his time staying up-to-date with the economy and researching investments.

As part of John and Anne’s plan, we:
  • Engaged in multiple discussions regarding what they envisioned their retirement looking like.
  • Created an easy to understand, long-term plan to support their retirement vision.
  • Reviewed John’s pension and Social Security claiming options alongside Anne’s pension to ensure retirement income is maximized and the survivor is taken care of.
  • Developed a cost-effective investment portfolio that aligns with their risk tolerance and retirement goals.

At Retirement

For Bill and Tammy, retirement is imminent and they are very concerned with medical expenses they may face. Bill recently had a heart attack and wants to make sure Tammy is taken care of should something happen to him prematurely. Both of them have 401k accounts and Tammy has a Roth IRA. In addition, about a decade ago, Bill’s parents passed away, at which time the couple created a Revocable Trust for the inheritance they received.

As part of Bill and Tammy’s plan, we:
  • Worked with a trusted Medicare professional to guide them towards a plan that minimized their potential out-of-pocket medical costs, including Bill’s expensive prescriptions.
  • Developed a tax-efficient investment plan that aligns with their risk tolerance and retirement goals and setup recurring monthly distributions from their portfolio to supplement the income they receive from Social Security.
  • Created a five-year tax plan to optimize their income tax situation before required minimum distributions begin.
  • Visited a trusted Attorney to update their estate plan and earmark some Trust funds for their grandchildren’s future college expenses.

Already Retired

Barry and Elaine have been married for fifty years! Both are in excellent health and remain active in their community. Barry has been the primary overseer of their finances, but has recently involved Elaine more in the bill paying process. Barry receives a pension, both receive Social Security, and they have various IRAs, Roth IRAs, and non-retirement accounts invested with their local bank and other investment companies.

As part of Barry and Elaine’s plan, we:
  • Simplified their investment portfolio by consolidating the number of investment accounts they maintain. In addition, we better aligned their overall portfolio with their risk tolerance.
  • Rather than giving cash from their bank account to their church, they began making qualified charitable distributions from their IRAs to the church to minimize the income taxes they pay and maximize the funds they are able to give.
  • Reviewed long-term financial projections, which comforted Elaine knowing she could live well into her 90s and still be financially secure.
  • Setup monthly distributions from their investment accounts to supplement their pension income.

Recently Widowed

Mary is recently widowed and was never actively involved in day-to-day decisions regarding family finances. Her daughter found my services online and scheduled a time for the three of us to meet. Mary will receive survivor Social Security, in addition to her husband’s IRA and two life insurance policies.

As part of Mary’s plan, we:
  • Worked with a trusted attorney to handle probate filings and update her estate planning documents.
  • Developed long-term financial projections, which provided comfort for Mary as she was able to see her future was financially secure.
  • Created a cost-effective investment plan that aligns with Mary’s risk tolerance and long-term goals.
  • Established monthly distributions from her investment accounts so that she could pay her bills.

I strive to build long-term relationships and, prior to working together, I want to make sure I’m the right fiduciary advisor for your needs. In addition to identifying with one of the scenarios above, I may be the right fit for you if: