Beginning to think about what life will look like once you retire? Do you know how much you need to invest in order to maintain your lifestyle? Retirement income planning is crucial if you want the freedom to explore your passions and live the life you’ve dreamed of during your older years without being held back by financial constraints. Whether you’re 40 or 60, now is the time to form your retirement investment strategy.
Our financial planner, Eric Cumley, CFP® is here to help determine your future retirement spending goals and develop an investing strategy that enables you to meet them. Whether it’s guiding you on how to consolidate investments or answering questions like “How much will I be able to spend on average per month?” “Will my current income fund my future spending goals?” “What can I spend on yearly travel?” Eric is here to help with these and many more financial considerations.
When it comes to retirement planning, projecting future income is one of the most critical – and complicated – components. Most personal finance software and online calculators don’t provide accurate projections, because they don’t consider the full range of variables that must be factored in and forecasted.
This is why our financial planner Eric Cumley, CFP® is pleased to work with Money Guide, the industry’s leading retirement planning software. In collaboration with this software, as well as your Charles Schwab investment account, Eric can provide you with answers to the following:
Because this state-of-the-art software calculates and projects dollar-specific amounts based upon the actual holdings and current values of your investment plan, it is able to generate the most accurate output possible. This gives Eric a strong foundation to craft your retirement investment plan. At the end of the day, his goal is to create a plan that meets your unique needs and goals. In other words, one you feel comfortable and confident in.
At Olympic Wealth Management, we have a simple two-phase financial planning process. Phase 1 is Investment Planning, and Phase 2 is Retirement Planning. This means that before you can begin planning for retirement with us, you must open and fund an investment account with our custodian Charles Schwab & Co. To learn more about investment planning, visit here.
You can begin retirement planning with Olympic after approving and funding your investment plan at Charles Schwab & Co. Inc.
Eric will submit for transfers and rollover distributions from old employer accounts to ensure everything is correctly transferred to your new Schwab account. As soon as the funds are available in your Schwab account, they will immediately be allocated to your designated investments.
Next, Eric will integrate your investment accounts at Charles Schwab & Co with Money Guide, the industry’s leading retirement planning software. This state-of-the-art software calculates and projects your retirement income based on the exact holdings of your investment plan.
Following this Money Guide integration, you’ll meet with Eric to review the proposed retirement plan. The primary purpose of this meeting is for Eric to thoroughly explain the details of your, answer questions, and hear your feedback. His top priority is to equip you with all the financial information you need to feel empowered and confident about heading into retirement.
Lastly, you’ll receive bi-annual questionnaires requesting your feedback and allowing you to schedule appointments with Eric to discuss your investments. In this way, he continuously stays connected to address questions, concerns, or future services which may be important to you.
We are open, communicative, and transparent regarding disclosing all information to our clients. This transparency allows you to make the most informed decision for your current situation.
We know that our clients depend on us. This is why we offer incredibly responsive service, typically responding to your requests in less than 24 hours.
We are strictly a fee-based investment advisor. This means we provide entirely unbiased advice as we do not receive a commission on the sale of ANY investment products.
The first step to retirement planning here at Olympic Wealth Management is to open and fund an investment account with our custodian Charles Schwab & Co., with $1 million or more of investable assets. From there, your financial advisor Eric Cumley will integrate your account with our retirement planning software and create a retirement plan tailored specifically to you and your family.
Common questions to ask your financial advisor about retirement include
Yes, consolidating your investments before retirement can simplify management, reduce fees, and make it easier to plan for retirement. For more details, read this blog.