Reflect, Realign, and Plan: Building a Retirement You Can Count On

Reflect, Realign, and Plan: Building a Retirement You Can Count On

Retirement is one of life’s biggest milestones, and planning for it doesn’t have to feel overwhelming. At LynnLeigh & Company, we believe in reflecting on your progress, aligning your goals, and simplifying the complexities of retirement planning—always putting your best interests first. Let’s break it down step by step to help you build the retirement you’ve worked so hard to achieve.

Step 1: Reflect on Your Financial Progress

Reflection is where clarity begins. Think of it as hitting pause to take stock of where you are. Here’s how to start:

1. Review Your Goals: What does your ideal retirement look like? Whether it’s traveling the world, pursuing hobbies, or leaving a meaningful legacy, defining your priorities is the first step.

2. Assess Your Savings: Compare your current savings to what you’ll need to support your goals. A retirement calculator or a conversation with a financial partner can help highlight any gaps.

3. Evaluate Your Spending Habits: Are there areas where you can trim expenses and redirect more money toward your future? Small changes now can make a big difference later.

At LynnLeigh & Company, we’re all about helping you see the big picture while focusing on what matters most to you.

Step 2: Realign to Address Financial Blind Spots

Even the most diligent planners can have blind spots. Let’s shine a light on them and make adjustments before they become costly. Here are a few areas to watch:

1. Underestimating Healthcare Costs: Healthcare expenses are one of the biggest surprises in retirement. We help you plan for these costs, including supplemental insurance and long-term care.

2. Inflation: Inflation is a sneaky force that can erode your savings. We’ll guide you toward investments that help protect your purchasing power.

3. Tax Implications: Taxes can take a big bite out of your nest egg. We’ll simplify tax strategies, like diversifying your tax buckets and considering Roth conversions, so you’re not caught off guard.

Our favorite "F" word—Fiduciary—means we’re always working in your best interest, making sure every adjustment is tailored to your unique situation.

Step 3: Plan Tax-Efficient Retirement Withdrawals

Retirement withdrawals don’t have to be a guessing game. With the right plan, you can stretch your savings and minimize taxes. Here’s how:

1. Sequence of Withdrawals: Start with taxable accounts, then move to tax-deferred accounts like IRAs or 401(k)s, and save tax-free accounts (like Roth IRAs) for last. This approach can lower your overall tax burden.

2. Minimize Required Minimum Distributions (RMDs): Once you hit age 73, RMDs kick in. By planning ahead, you can avoid large, unexpected tax bills.

3. Charitable Giving: If giving back is important to you, consider qualified charitable distributions (QCDs) from your IRA to fulfill RMD requirements while supporting causes you care about.

4. Tax-Loss Harvesting: Offset gains with losses in taxable accounts to reduce your annual tax liability.

We know tax season can be daunting, but we’re here to simplify it. At LynnLeigh & Company, we turn complex topics into plain English, so you feel informed and confident.

Why Choose LynnLeigh & Company?

When it comes to your financial journey, you’re a blueprint, not a template. Your plan should be as unique as your life, and that’s where we shine. We specialize in working with individuals and couples in their late 50s who have built $700,000+ in assets and are ready to make those assets work for them. From Social Security to tax management, we cover every corner of retirement readiness.

Final Thoughts

Building a retirement you can count on starts with reflecting on your progress, realigning your strategy, and simplifying the complexities of financial planning. With LynnLeigh & Company as your partner, you’ll have a plan that’s all about maximizing retirement income, simplifying tax management, and leaving a legacy that matters.

Ready to take the next step? Let’s chat. Reach out to Kelly Olczak, CFP®, at LynnLeigh & Company today, and together, we’ll create a plan that’s all about you.

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LynnLeigh & Company - A Registered Investment Advisor This information is provided by LynnLeigh & Co. for general information and educational purposes based upon publicly available information from sources believed to be reliable – LynnLeigh & Co. advisors cannot assure the accuracy or completeness of these materials. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. The information in these materials may change at any time and without notice.   Past performance is not a guarantee of future returns.

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