Already Retired?

If you’re already retired, make sure you’re maximizing your retirement income. Make your savings work for you. You may be living off your savings, but you can still make the most of your assets and maximize your retirement income. Explore ways to reduce expenses and begin wealth-transfer planning.

Re-evaluate your savings

Re-evaluate and adjust your lifestyle choices and savings allocations to ensure your money will last. Track your expenses to ensure your retirement savings last through a long retirement.

Become aware of any changes in tax laws — they may affect your investment portfolio if, for example, capital gain rates rise or fall.

If you need additional income, consider taking up a career opportunity. Determine an appropriate withdrawal rate for your assets. Make sure you have an adequate cash reserve, typically covering three to six months of expenses as minimum base liquidity.

Sustain your investments

You have many choices to make about how your investments can continue to support you throughout a long retirement. Re-evaluate your risk tolerance and asset allocation.

Adjust your portfolio and diversify investments across different classes of assets to control investment risk. Identify your sources of income and know when you can withdraw from the various accounts. Implement your plan.

It is essential to continue to refine your goals and expectations after you retire and balance your retirement income and needs.

Balance your retirement income and expenses

Talk to your spouse or family members about how you might handle unexpected events.

Review your estate plan, will, trusts, power of attorney and beneficiaries

Managing your income sources and expenses in retirement can be tricky.

Contact us to discuss how you can continue to sustain your lifestyle.