ServicesRetirement Planning
Retirement Planning in Neptune City
We help you answer the big questions before you hand in your notice. When can you retire? What will come in each month? What happens if the market drops the year you leave? You get a written plan in plain words, and someone close by to check it with.
What retirement planning actually covers
Saving for retirement and living off your savings are two different jobs. The first is mostly about putting money away. The second is about turning a pile of accounts into a paycheck that shows up every month, for twenty or thirty years. That second part is where most people want help.
We look at everything you have: 401(k)s, IRAs, a pension, Social Security, savings and any business income. Then we lay out an order for drawing on it, a timeline for big decisions, and what to do if things change. We treat it the way we'd want a neighbor to treat our own family's money, with straight answers and no pressure.
Our advisor is Series 7 licensed and a credentialed holistic financial coach through Columbia University. That second part matters here. Retirement is not only a numbers problem. It is also about how you want to spend your days, and the plan should fit that.
What we cover with you
A retirement date you can count on
We check your target date against your savings, your spending and a few weak market years. If it's tight, we show what one or two extra working years, or a leaner monthly budget, would change.
A map of monthly income
We list each income source and when it begins. You see, month by month, what arrives in your account and where it comes from.
Timing Social Security
The age you file sets the size of your check for life, and claiming early versus waiting can make a large difference. Married couples also have to decide who files first. We lay each option beside the others so you can compare them in dollars.
Order of withdrawals
The account you tap first shapes your taxes for years. We set an order for taxable, tax-deferred and Roth money, and tie it to our tax management work when that helps.
Required distributions and rollovers
We plan ahead for required minimum distributions and explain how to roll an old workplace plan into an account you control, when that makes sense for you.
Gaps in insurance
We can offer life insurance directly, so we can see whether a surviving spouse would be protected if one pension or check ended. If you don't need a policy, we'll say so.
When to start planning your retirement
Work ends within ten years
These years still leave room for your choices to pay off. Waiting for the final year cuts down your options.
Your accounts are spread around
A 401(k) from each old job, an IRA opened long ago, a savings account. If you can't say what they total, it's time to see them together.
You're unsure when to take Social Security
It ranks among the largest money choices most people face, and you really get one chance at it.
You've been offered a buyout or pension choice
Choosing a lump sum or monthly checks has lasting effects. See the numbers before the deadline arrives.
You and your spouse want different retirements
One wants to travel and the other wants to stay home and help with the grandkids. A plan gives you something concrete to work through together.
How your plan comes together
- 1
Introductory meeting
We meet at our office, or by phone or video, and talk about where you stand and where you hope to go. Before anything else, you'll learn how we work and how we're paid.
- 2
Pull together the paperwork
We ask for recent statements, your Social Security estimate, pension information and a rough monthly budget. You'll get an exact list, so nothing is left to guesswork.
- 3
Work out the numbers
We put the plan together and test it in strong years and weak ones. Your written plan shows your income timeline, the order of withdrawals and the dates to keep an eye on.
- 4
Go through it with you
We review each page together and answer your questions plainly. Nothing happens until you're at ease with it.
- 5
Revisit it as life shifts
Markets change, health changes, children need a hand. We go back over the plan with you so it keeps fitting your actual life.
What sets the cost
We won't name a price until we understand your situation. At the introductory meeting we explain how we're paid and what your plan will probably involve, so nothing surprises you later. These are the factors that change it.
- Number of accounts and income sources
- A single 401(k) plus Social Security is simpler than three old plans, a pension and rental income. More pieces take more time to fit together.
- Business ownership
- If you have a business, we need to plan for selling it, passing it on or taking income from it. That means more work.
- A single plan or continuing help
- Some clients want one written plan. Others want us to keep managing their portfolio and checking in yearly through our investment management service.
- Tax and estate issues
- Roth conversions, pension decisions and leaving money to your kids add layers. We'll let you know at the start if your plan should connect with legacy planning.
Common retirement planning questions
Something not covered here? (732) 655-2079
When should I begin planning for retirement?
Ten to fifteen years ahead is best, since there is still time to change how much you save and how long you work. Five years ahead still helps a lot. Even after you retire, we can help you sort out income and withdrawals.
Will New Jersey tax my retirement income?
Social Security benefits are not taxed by New Jersey. The state can tax pensions, IRA withdrawals and 401(k) withdrawals, though some income-based exclusions apply. We build both state and federal taxes into your withdrawal plan.
Is it better to take my pension as a lump sum or as monthly checks?
That depends on your health, your other savings, whether a spouse would need survivor income and how comfortable you are handling a large amount. We show both choices in numbers so the tradeoff is clear. Then you decide.
What happens if the market falls just after I retire?
That risk is real, and we plan around it. We usually hold part of your money in steadier investments to cover a few years of spending, so you don't have to sell stocks when prices are low.
Do I have to come to your office?
No. Plenty of clients meet with us in person, and many others prefer phone or video. You get the same plan and the same care either way.
Let's talk about your retirement
Bring your questions and a rough idea of what you have. In an introductory meeting we'll look at where you stand and tell you plainly what a plan could do for you.