Written by: Marie DeCaprio, Partner with Sax Wealth Advisors

Studies have shown that a great majority of people nearing retirement overestimate how much they can withdraw, or simply do not know how much they should withdraw from their nest egg once retired. This is a serious concern, but isn’t surprising. For the majority of our adult life, we are making investments, sacrifices and decisions to ensure we are set up for our future, and may give little thought to what happens after that.

Retirement planning aims to prepare individuals for retirement spend-down – meaning, when we stop earning a pay check and begin relying on our accumulated assets to fund our lifestyle. It is important to plan accordingly for priority expenses, like grocery shopping and your mortgage, in addition to lifestyle expenses, like birthday gifts and a family vacation. Just as important, however, is the rainy day fund needed for unforeseen expenses, like storm damage or unexpected medical costs.

Sax Wealth Advisors help make the shift from accumulating to de-cumulating assets a well thought-out strategy for your long years ahead. At SWA, you can look forward to:

  1. A detailed plan for your ideal retirement lifestyle and how to achieve it.
  2. Total guidance from saving for retirement to tapping into those savings when necessary
  3. Advisors who understand the relevant tax implications of your specific spend-down strategy, and assurance that you are locked into an appropriate tax bracket
  4. A charitable giving plan to ensure your wealth continues to support the causes that mean the most to you for future generations
  5. A strategy that encompasses the unforeseen in the event that life deviates from what is expected.

We understand everyone’s financial situation is different, as are our lifestyles, needs and futures. SWA’s in-depth expertise arms us with the knowledge and capabilities to ensure you maximize your wealth and decrease your tax costs in your retirement years. Our seasoned advisors walk side-by-side with you as we determine an effective and efficient retirement plan that suits your needs and accounts for the unseen. You should get out all you’ve worked so hard to put in – and more.