Contributed by William Bevins, CTFA at Cypress Capital (Franklin, TN)
If the thoughts of retirement have entered your mind, chances are it’s time to begin planning. Anyone within 10 years of retirement should have a comprehensive financial plan. Waiting until the last minute usually ends in surprise and disappointment.
Most people I speak with have not retired before. This is a new experience. And, as with most things, the first time doesn’t go smoothly on its own. There are dozens of elements to achieving a comfortable retirement; chances are an individual working without an advisor will miss important planning elements. An experienced advisor will bring things to the surface that are imperative to achieving the retirement you desire.
A Comprehensive, Custom-Tailored Approach to Retirement
When working with clients, I take a comprehensive approach in covering all facets of retirement. The process isn’t something that’s completed over a cup of coffee. This plan is meant to help lead you through your golden years. This will require a mutual effort and annual reviews. Along the way things will change, good health may slip away or the cost of living may increase at a more rapid pace. A solid plan allows flexibility to address these types of changes.
These are a few basic questions I discuss with clients well before retirement age. There are many more topics to consider in the advanced planning process, however.
- How much money will you need in order to walk away from your career?
- Are you eligible for Social Security and when should you begin receiving it?
- How much of your nest egg can you access each year in retirement?
- What health insurance benefits will you have access to in retirement and what is the cost?
- What percentage of your current income can you maintain in retirement?
- What steps can be taken to reduce taxes?
Managing Your Assets
In addition to Financial Planning, the other key element of a successful retirement is managing your assets properly. With more than 75 years of collective experience, my firm, Cypress Capital, specializes in asset management. We help hundreds of clients achieve their investment goals and manage client assets within IRAs, 401(k)s, pension plans, 457 plans, mutual funds and annuities.
I work with each client individually to create a relationship. Through this relationship I better understand the client and their objectives. A relationship also helps me build a durable portfolio that will stand the test of time. Most retirements last 25 years. It is important that the investments chosen last even longer.
Most retirees or near-retirees are concerned with asset quality, income generation, and capital preservation. I will choose investments that match specific risk profiles to investment objectives.
The Bottom Line on Retirement
For many individuals, retirement is the most significant event in their adult lives. Work with an advisor who has the experience and know-how to help you make unbiased choices that will guide you well into your retirement years.
If you’re not currently working with an advisor, or if you’ve lost contact with your current one, let’s start a conversation. Contact me at email@example.com or by calling (615) 469-7348. For more information and to view some sample portfolio models, visit https://www.williambevins.com. Read my other articles on Williamson Source here.
William Bevins is a Registered Investment Advisor with the SEC. Mr Bevins began his Advising career in 1995 and has spent 18 years as a Professional Equities Trader. Today his firm, Cypress Capital located in downtown Franklin, TN, manages $260 million from individuals, small and medium size businesses, pensions, and charities. For more information please visit http://www.williambevins.com.
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