Death and Taxes

Ben Franklin Quote

Benjamin Franklin famously said, “in this world, nothing can be said to be certain, except death and taxes.” As we all check off our tax returns this month, a study from Allianz reported that 61% of people fear running out of money more than death!

When we meet with clients for the first time, we always ask them to bring any statements, tax returns and retirement income plans they have on file. They normally have plenty of bank and brokerage statements (sometimes boxes of them) and tax returns. But, very few have a written retirement income plan. Do you? 

If so many people worry about running out of money in retirement, why don’t more people have a written retirement income plan? As people retire (or approach retirement), we think it is essential that they have a written plan which shows their sources of income – year by year – for as long as they live. Retirement income is normally derived from:

  • Social Security – how and when to take it are the key questions;
  • Pensions – for those lucky enough to have one!
  • Personal Savings – and how to turn that into reliable income?

Our greatest satisfaction comes from helping people develop a written retirement income plan (it can be one page or a multi-page report). We can develop it together and when complete, review it annually to ensure you have complete peace of mind in retirement.

Do your taxes but don’t worry about running out of money in retirement.  Contact us and let’s schedule a time to start building your personalized plan!

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