Retirees
Maintain your lifestyle, and your wealth, through strategic financial planning.
After a successful career, you’re likely looking forward to retirement with a mix of both excitement and trepidation. This welcome transition can be daunting, especially when it comes to financial planning. Key Private Bank can help you prepare for a rewarding retirement, while mitigating financial risks – so you can live comfortably and also preserve some of your wealth for the next generation.
Understanding your needs
You’ve saved for this your whole life. Now that you’re retiring, you’ll get to enjoy more of the hard-earned fruits of your labor. But for how long? You need to ensure that you can maintain the lifestyle you desire, while also planning for the unexpected. Building a strategic financial plan is the best approach to making your wealth last.
Developing your plan
As you plan your retirement, these questions will help you stay focused on preparing a solid wealth management strategy.
- How will you plan to manage growing healthcare costs as you age?
- Do you understand Medicare, and are you aware of the deadlines associated with securing comprehensive health insurance?
- How long should you be planning for? What is your life expectancy?
- When should you claim Social Security?
- What are your income sources during retirement?
- How can you monitor your spending in retirement to avoid prematurely depleting your investments?
- What if you need extended nursing care that could deplete your assets?
- Is your investment portfolio allocated appropriately given your decreased capacity for risk and shorter time horizon?
- Have you accounted for inflation?
- Who will make medical and financial decisions for you if you become incapacitated?
- Now that your income sources are limited, how can you monitor your spending habits?
- Which types of accounts should you withdraw from first – taxable, tax-deferred, or tax-free?
Working together for a solid financial future
Key Private Bank can help bring your retirement plan to fruition by helping to coordinate your cash flow needs with longevity risks, as well as balance your income and spending. Whether you need investment guidance, healthcare planning, an asset protection strategy, advice on charitable giving, or help planning your estate, we’ll help you achieve your goals and objectives – so you can afford to retire comfortably.
Access Our Expertise and Insights
Browse our resources and articles below to learn more about the latest trends that could impact your
wealth management as a retiree.
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