Navigating Retirement Planning Services

Navigating retirement planning services is an important aspect of preparing for your future. A CERTIFIED FINANCIAL PLANNER professional can help you create a plan and determine how much money you should be saving.

Life doesn’t always move in a straight line, and you may experience setbacks that affect your financial situation. Your planner can help you stay on track with your long-term goals, even during times of crisis.


The goal of retirement planning is to sock away enough money so that you can live comfortably when you leave the workforce. This requires a thorough review of your current expenses, future goals, and life expectancy to help you develop an appropriate strategy.

During this phase, we can help you take advantage of your employer’s retirement savings options such as the 401(k) plan with employer match and the traditional or Roth IRA. For those who work for themselves or earn freelance income, we can also provide advice on how to set up a SEP IRA which is similar to the 401(k) but is designed specifically for self-employed individuals or small business owners.

Once you’ve maxed out your tax-incentivized retirement accounts, we can recommend other forms of investment to diversify your nest egg. We may suggest certificates of deposit (CDs), blue-chip stocks, or real estate investments to help you build your retirement portfolio. This is also a good time to consider long-term care insurance, which can help defray the cost of home or nursing home care later in life.

During this final phase of planning, we help you develop an individualized retirement budget that reflects your lifestyle preferences and projected living costs. We can also assist with the logistics of preparing for a smooth transition into retirement by assessing the various senior housing options available and directing you to local resources.


Investing is one of the most important parts of retirement planning. Unlike previous generations, who could count on company-sponsored pension plans and the associated employer matching contributions, today’s workers are more responsible for building their own retirement funds through investments. Experts have long advised savers to save at least 80% of their pre-retirement income. However, it’s harder to achieve those goals now that life expectancy has risen and bond yields are much lower.

When saving for retirement, there are many things to consider: figuring out when you can retire, how much you’ll need, setting priorities, and choosing your accounts and investments. Most financial advisors recommend investing more aggressively when you’re younger, and gradually dialing back to a more conservative mix of assets as you approach retirement age.

Other factors to consider include the cost of living in the area where you plan to retire, and how much your day-to-day expenses are expected to rise over time due to inflation. There are a range of investment options available to help you generate a steady stream of retirement income, including real estate and annuities. You can choose to have this income paid out over a specific period of time or for the rest of your life. A financial planner can help you navigate these investments and find the right solution for your needs.


Buying insurance isn’t something most people look forward to doing, but it is an important part of any long-term retirement strategy. It’s a way to support dependents in the event of your death or disability, and it can also be a great investment tool when used properly.

Whether you need help determining the right coverage or you’re looking for new ways to increase your savings and income, a financial professional can provide guidance and expertise. In addition to assisting with the purchase of an appropriate life insurance policy, they can also help you execute a plan once you retire by reviewing your options for using cash value in a tax-free way and using your other retirement accounts wisely.

Another reason to seek out a financial professional is their assistance with estate planning. This is a necessary step to ensure that your assets reach the right people when you’re no longer around, and it includes creating trusts, establishing power of attorney, and designating beneficiaries.

A final benefit of life insurance is that it can help with medical expenses. This is especially important as you get older, when healthcare costs typically rise. Additionally, it can also help with the cost of funeral services, if needed. You may even want to consider a permanent whole life policy, which has the potential for tax-deferred growth and offers a guaranteed death benefit.

Long-Term Care

As you age, there is a good chance you will require long-term care services. These can include home health aides, assisted living and even nursing homes. These expenses can be enormous, and can deplete your retirement savings if not carefully planned for. Long-term care insurance is a great way to offset these costs and ensure you do not run out of money while receiving the care you need.

Over the past two years, more Americans than ever say it is likely they will need future long-term care services. This trend has led to increased awareness of how these services are funded. However, many still have misconceptions about how this system works and the likelihood of needing these services.

Americans age 40 and older also report doing little or no long-term care planning. This is particularly true for those with less education. Those with a college degree are more likely to have created an advanced directive or living will and to search for information about ongoing care needs and long-term care insurance.

A recent study found that most Americans support a government-administered long-term care program to help pay for the cost of these services. Other policy options include private long-term care insurance, hybrid policies (which combine long-term care with life or annuities), and employer-offered plans. Your Schwab Wealth Advisor can provide you with more information about all these different options, and connect you with estate planning specialists to help guide your decision making.

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