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Personal
Retirement Profile | launch the PRP demo
Retirement is a time of transition and planning
for retirement can be a very complex process. Many
people approaching retirement find themselves ill equipped
to put together a sound financial plan that will
carry them through their retirement years. Many
times, more time is spent on planning a two-week
vacation than planning for the next 20-30 years
in retirement.
A well designed capital accumulation program can
fall short if a plan is not put into place that
takes into account inflation, expenses in retirement,
rate of future withdrawals, and complicated tax
laws. Decisions must be as to whether to take lump
sums or to annuitize retirement savings plans, how
to invest in rollover IRA’s, at what age to
begin receiving Social Security benefits, and deciding
on which of the myriad of investment vehicles available
will help you meet your financial goals. A well
thought out plan will ensure an active and satisfying
retirement.
The transition from saving for retirement and living
in retirement is daunting for retirees who no longer
receive a regular paycheck and must draw upon savings.
One of the questions most asked by pre-retirees
is, “What can I live on in retirement and
not run out of money?” To assist in this effort,
Brick & Kyle offers personalized, individual
retirement planning using a sophisticated software
program which provides a detailed projection of
the retiree’s financial scenario over a 30-year
period. Many variables are entered into the program
including sources of retirement income, current
investments, expected benefit plan distributions,
estimated living expenses, yield on investments,
and inflation. This “Personalized Retirement
Profile” is a numerical and graphic report
which calculates the annual after-tax amount retirees
can afford to live on in retirement without exhausting
assets. If this number is not sufficient to meet
the needs of the retiree, part-time work, another
avocation, or reduced spending may be in order.
This individual retirement counseling is completely
personalized. The unique software package used to
create the personal analysis allows the pre-retiree
to play “what if” with any and all retirement
scenarios. During the counseling session, other
financial planning matters such as pension options,
insurance needs, debt management problems, and estate
planning are also addressed.
Most people who take advantage of this individual
counseling are pleasantly surprised to find that
retirement is possible sooner rather than later.
The results of this comprehensive evaluation provide
peace of mind and a realistic projection of the
pre-retiree’s financial future. |
