Wealth management for a retiree is about preserving and strategically managing the money you've accumulated over your working years so you can enjoy your retirement without running out of cash—or losing too much sleep over market volatility. It’s a personalized, holistic approach that covers everything from budgeting and investments to tax efficiency and estate planning, tailored to retirees’ specific needs. It’s a personalized, holistic approach that covers everything from budgeting and investments to tax efficiency and estate planning, tailored to retirees’ specific needs.
Creating a paycheck in retirement:
You no longer have a salary, but you still need to pay the bills. Wealth management helps retirees figure out how to generate regular income from different sources like:
Withdrawal strategy:
Retirees need a strategy to pull money out of various accounts (tax-deferred vs. Roth vs. taxable accounts) in the most tax-efficient way possible.
Required Minimum Distributions (RMDs):
Once you hit a certain age (usually 73), the IRS forces you to start withdrawing from traditional IRAs and 401(k)s. Wealth management ensures you don’t get hit with penalties and uses smart strategies to minimize the tax bite.
Risk management:
You’re not in your 30s anymore, so aggressive, high-risk investments probably aren’t the best idea. Wealth management helps balance your portfolio to maintain growth, but with a much more cautious approach, protecting against large market downturns.
Rebalancing your portfolio:
As you age, your financial advisor will periodically adjust your mix of stocks, bonds, and cash to fit your changing risk tolerance.
Inflation protection:
Your money needs to keep pace with rising costs, so wealth management often includes investment in inflation-protected securities or assets that grow over time.
Managing healthcare costs:
Wealth management incorporates planning for significant medical expenses, Medicare premiums, and possibly long-term care insurance, which can be one of the biggest financial burdens in retirement.
Long-term care:
If you need assisted living or in-home care down the road, you’ll want a plan in place so those costs don’t drain your savings.
Transferring wealth: Wealth management includes making sure you pass on your assets to your heirs in the most efficient way possible. That involves setting up wills, trusts, and other legal structures to minimize estate taxes and probate headaches.
Beneficiary designations:
Making sure all retirement accounts, insurance policies, and other financial instruments have up-to-date beneficiaries.
Spending wisely:
You need to know how much you can spend each year without running out of money. Wealth managers help create a sustainable budget based on your life expectancy, lifestyle, and the ups and downs of the market.
Charitable donations:
If giving back is important to you, wealth management helps you structure charitable donations in a way that maximizes tax benefits.
Legacy planning:
Structuring your estate to leave a lasting impact on future generations, whether it’s through financial inheritance or establishing a charitable foundation.
Wealth management is dynamic. A good plan adapts to changes in health, market conditions, and family needs, so your financial plan evolves with your life, not against it.
Wealth management for retirees ensures you’re not just managing your money but making it work for you, so you can live out your retirement without financial stress—leaving behind a solid plan for your loved ones. It’s about maximizing what you have while minimizing risks.
With personalized strategies, expert guidance, and a commitment to your best interests, Secure Estate Solutions is here to help you achieve your financial goals. Let us help you make the most of your wealth today.
8655 East Vía de Ventura
Suite F-127
Scottsdale, AZ 85258
141 S McCormick St, Suite 206H,
Prescott, AZ 86303
By Appointment only
Investment advisory services offered through Alphastar Capital Management, LLC ("Alphastar"), a SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products, tax planning services and recommendations regarding precious metals are offered through SES Services and Andorra Capital. Alphastar Capital Management, SES Services and Andorra Capital are separate and independent entities. Alphastar is not involved in the offer, recommendation, sale or management of commission-based fixed insurance products or precious metal products. SES Services offers insurance products through individuals licensed to sell insurance. Information regarding guaranteed returns or income streams refer only to fixed insurance products offered by SES Services and, unless specifically stated, do not refer in any way to securities or investment advisory products offered by Alphastar. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered or guaranteed by Alphastar. Alphastar also does not provide tax or legal advice.
The content is developed from sources believed to be providing accurate information. This is for informational purposes only and is not intended as legal, tax or investment advice or a recommendation of any security, investment product or investment strategy to your individual situation. Please consult with SES Services, Andorra Capital and legal or tax professionals for specific information regarding your individual situation.
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