Achieving a secure, comfortable retirement is easier when you plan your finances.

Personal Retirement Planning

Retirement Planning

Living our retirement years securely and comfortably is everyone’s dream. And now because we’re living longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did. Many couples now spend as much of their lives in retirement as they spent working.  Achieving your dream of a secure, comfortable retirement is much easier when you plan your finances.

Through the retirement planning process, HBKS® Wealth Advisors help you answer a myriad of important questions.

  • Do we have enough to retire?
  • How much do we need to accumulate now to retire successfully?
  • How much income can we draw from our investments? Are we drawing too much?
  • Will our retirement assets last throughout our remaining years?
  • How might inflation impact the cost of retirement over our life expectancy?

Our retirement planning process involves:

In developing your roadmap for retirement, we first closely examine your current financial position, including:

  • Net worth and cash flow analysis,
  • Current retirement savings schedule,
  • Income and expenses,
  • Managing pension distributions and Social Security benefits,
  • Transitioning business assets into retirement income,
  • Projecting retirement outcomes based on various target-beginning dates and investment rate of return assumptions.

Once we understand your current financial position and have a thorough knowledge of your assets and income you will have available to support your retirement goal, we carefully examine your retirement need. This process involves a detailed analysis of projected expenses and various sources of income. Using conservative assumptions, we inflate expenses throughout the rest of your life expectancy to arrive at an estimated need based on your retirement goal. We compare your resources to your expected need to illustrate the probability of accomplishing a successful retirement. If there are shortages, we can assess what needs to be done to eliminate such deficiencies.

Most importantly, HBKS® advisors are committed to monitoring and managing your retirement viability for the long term through varying market cycles. In ongoing client meetings, we update retirement planning schedules and projections to check progress toward the retirement goal. For retired clients, we review spending plans, income expectations and portfolio returns to gauge the sustainability of their retirement funds.