Retirement Planning

At Saorsa Wealth Management LLC, Retirement Planning is a cornerstone of the firm's financial services, designed to help ensure clients can pursue a fulfilling retirement. The goal is to help clients plan for the future by creating strategies that allow them to maintain their desired lifestyle during retirement while managing financial risks along the way.

Key Aspects of Retirement Planning at Saorsa Wealth Management:

 

1. Personalized Retirement Goals

  • Understanding Client Needs: Saorsa begins by discussing the client's vision of retirement, including expected lifestyle, retirement age, travel plans, and any desired activities or hobbies.
  • Financial Independence: The firm focuses on pursuing financial independence, helping clients determine the amount of wealth needed to comfortably retire and maintain financial "freedom" throughout their lives.

2. Retirement Income Planning

  • Income Streams: Saorsa develops a detailed plan to help ensure multiple streams of income during retirement, which may include Social Security benefits, pensions, annuities, and investment withdrawals.
  • Withdrawal Strategies: To avoid depleting retirement savings too quickly, the firm helps clients establish withdrawal strategies that are tax-efficient and sustainable over the long term.

3. Social Security Optimization

  • Maximizing Benefits: Saorsa helps clients determine the optimal time to claim Social Security benefits, factoring in life expectancy, spousal benefits, and other income sources.
  • Coordinating with Other Income: Social Security is carefully integrated into the broader retirement plan, ensuring it complements other income streams to help increase overall benefits.

4. Tax-Efficient Retirement Strategies

  • Tax-Deferred Accounts: Saorsa advises on the best use of tax-deferred retirement accounts such as IRAs and 401(k)s, helping clients reduce taxes on withdrawals while pursuing growth potential.
  • Roth Conversions: For clients who may benefit, Saorsa evaluates the potential of Roth IRA conversions to create tax-free income during retirement, helpin to reduce future tax burdens.

5. Investment Strategies for Retirement

  • Asset Allocation: Saorsa tailors investment strategies to suit the client's retirement timeline and risk tolerance, gradually shifting from growth-oriented investments to income-generating and conservative assets as retirement nears.*
  • Longevity Planning: The firm ensures that retirement investments are structured to provide income for a long life, taking into account the risk of outliving one's savings.
  • Inflation Strategies: Investment strategies include those that help against inflation, ensuring that retirement income keeps pace with rising living costs.

6. Healthcare and Long-Term Care Planning

  • Medicare Planning: Saorsa helps clients navigate the complexities of Medicare, including the timing of enrollment, coverage options, and potential gaps in care.
  • Long-Term Care Insurance: The firm evaluates long-term care needs and recommends insurance solutions to protect against the high costs of extended care in retirement.

7. Estate Planning Integration

  • Wealth Transfer: Retirement planning at Saorsa integrates with estate planning to ensure clients can pass on wealth to their heirs or philanthropic causes while reducing estate taxes.
  • Legacy Planning: Saorsa helps clients structure their finances to leave a legacy for future generations, ensuring their wealth is distributed according to their wishes.

8. Ongoing Retirement Plan Monitoring

  • Adapting to Changes: Saorsa regularly reviews retirement plans to ensure they remain aligned with clients' evolving goals, market conditions, and any life changes.
  • Continuous Guidance: The firm provides ongoing support and adjustments to ensure clients stay on track, even after they've entered retirement, helping them manage their financial assets over the long term.

9. Contingency Planning

  • Unexpected Events: Saorsa prepares clients for potential financial risks in retirement, such as unexpected healthcare costs, market downturns, or changes in family circumstances.
  • Emergency Reserves: The firm helps establish emergency funds and other financial buffers to provide confidence in retirement.

By focusing on creating personalized, tax-efficient, and sustainable retirement strategies, Saorsa Wealth Management ensures that clients can enjoy a comfortable retirement.

*Asset allocation and diversification do not guarantee a profit or protect against loss in declining markets. They are methods used to help manage investment risk. You should consider your ability to invest continuously during periods of fluctuating price levels.

Neither Momentum Independent Network Inc. nor its representatives offer tax advice or legal advice. This material is not intended to replace the advice of a qualified tax professional or any other professional. Before making any financial commitment, consult with your professionals.