Tailored Retirement Planning Services in the Bradenton / Sarasota and Naples / Bonita Springs, Florida Areas
Retirement planning and Florida go hand in hand. Florida stands as the #1 spot for retirees, and with good reason. It’s a beautiful place with temperate weather, relaxing beaches, and an overall carefree atmosphere. It’s no surprise that the Sunshine State is one of the greatest places for you to spend your retirement years, and the areas of Bradenton/Sarasota and Naples/Bonita Springs in Southwest Florida offer many of these benefits.
As a Southwest Florida wealth management firm, Integra Capital Advisors understands the needs of our clients, whether they live nearby or in another state. We know you’ve worked hard throughout your life, and we want to help you protect your future. That’s why we tailor our retirement planning services to meet your lifestyle. A big part of the financial planning process is developing a comprehensive retirement income plan. A strong income plan will increase your confidence and peace of mind.
We work closely with you to identify your goals and then use our experience and expertise to put together your retirement plan. We also know that no matter how well we plan, things will change in your life. Your income plan will also change to meet your needs.
What is Retirement Planning?
Retirement planning is the process of analyzing your personal goals for your lifestyle income compared to your known income sources, such as Social Security or pension benefits. The difference between these must be generated from your investment assets or through working in retirement. Of course, tax planning is an important aspect of the process as well.
How Retirement Planning Can Benefit You
Our clients already know the benefits of our retirement planning. Not only do you get the benefit of being secure financially, but also the confidence that will come with it.
Retirement planning will identify a reasonable level of lifestyle income that accounts for the everyday normal expenses of life and also those periodic extra expenditures such as trips with friends and family or that new car now and then. You also will be prepared for critical financial events that can impact your retirement income or expenses. When you work with our retirement planners, we can help you identify areas of risk and take precautions to minimize them.
With proper retirement planning, you can also plan your legacy, the assets you will eventually leave to your heirs, or to the charities that you admire most. We can help you with managing your wealth so that you can leave as much as you desire for the people and the causes that mean the most to you.
When To Consider Retirement Planning
It’s never too early to start planning your retirement, but things generally get a little more serious when you hit your 50s. Looking forward and considering the income you will need and the assets you will have is best done in advance when there is still time to make an impact with smart decisions.
Retirement Planning Stages
In this stage, “accumulation” begins. This is when you first enter the workforce and continues until you retire. Many start their 401(k), 403(b), or 457(b) plans during this time. A great goal is to save 10% of each paycheck towards retirement. The power of compound returns over a long period of time makes retirement planning a lot easier. This stage is generally from our mid-20s out to around age 50 or so.
In our middle to late earnings years, we typically transition from paying for things like houses and kid’s college to paying off debt and accumulating investment assets at a higher rate. This is helped by reaching our peak earning years for maximizing retirement savings and investment. This stage runs from around age 50 to our retirement age, typically in your 60s to perhaps age 70. In this stage, it is a good idea to engage with a retirement planner to make projections and adjustments while you can still make an impact on the outcome.
This phase will start when you retire and last the rest of your life. In this stage, a big change takes place. Instead of saving and investing for retirement, the assets you’ve accumulated now are used to produce income to supplement Social Security and any pension income you may have. Some call this the “decumulation” phase, although if you’ve accumulated enough of an asset base relative to your income need your assets may continue to grow.
It is also the time when people get their affairs in order for the eventual end of life. This includes estate planning and communicating with your family regarding your wishes as you get older.
How Integra Capital Can Help
At Integra Capital Advisors, we’re proud to provide retirement planning services that are tailored to our client’s needs. We’ve created a streamlined income planning process as part of our Waypoint FORMula that helps you visualize your sources of retirement income in a way that builds confidence about your financial future.
Get Started On Your Retirement Planning Today
When you work with Integra Capital Advisors, you will have a team that is experienced and passionate about helping you plan and maximize your retirement income. We want your post-working years to be filled with the joy and excitement you worked so hard to achieve. With our help, you won’t have to worry about affording your lifestyle.
If you’re ready to start planning for a promising future, then you can schedule an appointment here to speak with us. We will interweave wealth management, retirement planning, estate planning, and more to make the whole plan work for you.