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Retirement Planning

Retirement is the time in life when paid work ends, and income shifts from wages to savings. Each individual has their own interpretation of what they want retirement to be. Alvini and Associates, P.A. are capable of structuring plans for a broad range of clients from different age groups that have various needs. How well you live during retirement largely depends on how well you planned and saved during your early years. The importance of establishing a sound, yet simple, retirement plan cannot be overemphasized. Once the plan becomes part of the client’s financial routine, it can be modified and expanded. Retirement planning is multifaceted because it encompasses advice to clients many years in advance of retirement, as well as to clients just at retirement and thereafter.

The broad range of issues that must be addressed makes this one of the most challenging of the financial services disciplines now emerging. There are many retirement topics to consider like withdrawal and distribution amounts, rollovers, payout options, investment strategy, insurance coverage, medical insurance and shortfalls of Medicare. With the baby boomers ranging from middle age to early retirement age, the number of individuals with significant savings and retirement-planning needs is increasing dramatically. At the same time, the economic and tax complexity of all types of retirement-related financial planning has also increased. We can help.

Our process for structuring retirement plans: 

  1. Set goals
  2. Estimate the amount of assets needed at retirement
  3. Estimate income need at retirement
  4. Calculate the annual inflation-adjusted shortfall
  5. Calculate the funds needed to cover this shortfall
  6. Determine how much must be saved annually between now and retirement
  7. Implement the plan
  8. Monitor the plan

Our process will help you answer questions you may have about how much you would need to retire, what age you should retire, and when to start taking Social Security. Factors we consider when determining retirement savings goals are retirement age, life expectancy, future health-care needs, lifestyle, inflation, and Social Security.

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