The Complete Retirement Walkthrough

Need guidance on how to develop a retirement plan? Read our walkthrough to get answers to your questions.

Retirement can be a positive and transformative achievement for many, a culmination of years of skillful work and dedication. Preparing for this milestone is the single greatest financial objective that most people will work towards in their lives. To create meaningful and lasting peace of mind, it is essential that prospective retirees have a clear understanding of the financial journey upon which they are about to embark.

If you want to retire around the average U.S. age of 62, you need to develop a clear strategy to reach your retirement goals. that’s why we’ve created this retirement walkthrough, to guide you through pre- and post-retirement planning. Each section below summarizes the most important issues associated with these phases, and points to more detailed information you can use to do further research.

Pre-Retirement Income Planning

One of the main elements that will affect your pre-retirement income planning is where you plan to retire. it’s important to evaluate the type of city or town you want to live in, the tax regulations that apply to that area, and trends in the local real estate market.

Another element to consider is which accounts will provide you with reliable income in retirement. Do you have an appropriate portfolio mix, made up of both fixed income and growth-focused investments, that will support your goals? If your portfolio consists primarily of stocks that pay dividends, can you comfortably live off your dividends in perpetuity? Living off dividends requires knowledge about diversification and tax liabilities, so for more information about the dividends angle, take a look at our article and podcast episode that answer the question “Can you live off dividends?”

You’ll also want to consider whether it’s better for you to contribute to a pre-tax vs. Roth account, or, if you’re offered the option, whether to take a lump sum payment or a pension from your employer. There’s no one-size-fits-all designation; the types of accounts people use to fund their retirements are different for everyone. Two of the articles linked below will help you learn more about these particular decisions.

Lastly, ask yourself the following question: Am I ready to retire? On the surface the answer may appear to be obvious, but digging deeper might reveal obstacles. To answer this question fully, think about whether you or a loved one may face the prospects of job loss, disability, or death in the near future, and whether you’ve embraced important habits of wealth-building that will serve you well in retirement. Evaluating these angles can help you make a stronger and more reliable plan for retirement.

Post-Retirement Concerns And Considerations

If you’re approaching (or have already arrived at) the post-retirement phase, you understand that this is a time where your life will look very different, and it may call for a recalibration of your priorities, pursuits, and goals. The good news is that the habits you formed in planning for retirement, like budgeting and goal-setting, will continue to serve you well in this new stage of life. To learn more about budgeting and planning for your new income sources, read our guide to retirement income planning linked below.

Some individuals also have important concerns about the post-retirement phase. For example: Americans are living longer than ever before, many are likely to reach their 80s and beyond. How should a retiree draw on their money with longevity in mind? Our article on post-retirement concerns will help you think through this and other common retirement concerns.

Many retirees also reexamine their asset management and tax strategies, and some will need to engage in high net worth retirement planning. Read our article about retirement asset management below to learn how to manage your portfolio with confidence.

Approach Retirement With Confidence

As you plan for and enter retirement, remember these important points:

  1. Define retirement for yourself, and do it more than once. Your idea of retirement may change over time; don’t let outside forces dictate what financial independence is for you.
  2. Use SMART goal-setting to design your retirement and lifestyle; that means creating goals that are specific, measurable, achievable, realistic, and timely.
  3. Monitor your plan and assets over time. Keep an eye on everything, remembering that your retirement assets are dynamic, not static.

Whether you’re confident about your retirement financial plan or you’re just starting to think through it, we invite you to talk with the experienced financial advisors at Curio Wealth. Having someone who can assess and address the details specific to your retirement needs is an invaluable asset in and of itself, one that will ensure you enjoy a satisfying, well-funded retirement.

Important Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Curio Wealth, LLC [“Curio Wealth”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Curio Wealth. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Curio Wealth is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Curio Wealth’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at Please Note: Curio Wealth does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Curio Wealth’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please Remember: If you are a Curio Wealth client, please contact Curio Wealth, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

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