We’re Here to Help you Build a Better Retirement
- Will you have enough money to retire?
- Will your income last?
You’ve worked hard and saved your whole life.
How you set up your retirement income today can impact the quality of life you will have for decades to come. When you retire, you face two critical factors. 1) You need to protect your portfolio from risk and 2) You need to navigate how you turn on income. You want an income that will keep up with inflation and last for the rest of your life. At Verley Financial our experienced team provides income planning for clients for when markets are good and when they are bad.
Everyone has a unique situation. We craft individualized income plans to account for the many potential challenges our clients face:
- Market Risk
- Interest Rate Risk
- Lifetime income
- When to start Social Security benefits
- Long term care expenses
- Estate Planning
- Inflation—guarding against loss of purchasing power
Ideally, the process begins several years before retirement, so we can have everything in place when retirement day comes. We also work with younger clients to help them set and meet long-term accumulation goals so they have the retirement lifestyle they desire.
“Avoid common mistakes and execute a plan that accomplishes what you want.” It sounds simple, but many times the documents people have in place do not meet their needs or are outdated and fail to take into account tax and estate law changes. Our key goal in estate planning is to help the client determine what it is they want to accomplish and coordinate with the tax and legal experts who can draft and execute that plan.
When a family business is involved, the estate planning process can become more complicated. In the example of a family farm, there may be non-farming and farming children to take into consideration, along with highly appreciated land values and estate tax liability. Estate planning should address:
- Asset Protection
- Responsible Transfer of Wealth to the Next Generation
- Charitable Goals
- Proper Titling & Ownership of Assets
- Estate, Gift and Income Taxes
- Life Insurance & ILITs
- Revocable, Irrevocable & Testamentary Trust Planning vs. Simple Wills
- Disability and/or Mental Incapacity
- Elder Law Planning, Long Term Care, and Home Health Care
- End of Life Decisions
This is not an exhaustive list, but is some of the more common concerns. In order for an estate plan to work, it must be tailored to your specific situation, risks, and goals.