Retirement Planning

Retirement planning is a lifelong process. It begins with an accumulation of assets in the early years of your career and continues into your retirement years. Each phase requires a distinct financial emphasis to ensure your retirement goals are achieved. Key Private Bank offers services and solutions for each of these phases to help you plan for retirement.

Phase 1: Accumulation

Asset accumulation should be your principal goal if you have 10 or more years in the workforce before retirement. During this phase, a review of your investment strategy is an integral part of planning for retirement. Establishing your goals and objectives and assessing other wealth issues can help prioritize needs during retirement, determine risk tolerance, and create a solid foundation for the path to retirement. Periodic adjustments may be needed as life events occur.

Phase 2: Pre-Retirement

At 3-10 years before retirement, the need for retirement planning becomes crucial. Personal and family needs, both real and anticipated, may affect your cash flow. By this time, earnings may be increasing significantly and any entrepreneurial opportunities are likely in progress. Financial plans should be fine tuned and any obvious shortfalls or gaps addressed. Frequent monitoring for any adjustments due to life events is critical.

Phase 3: At Retirement

At 1-2 years before retirement, there are many decisions that must be made. Although careful planning may have been done in earlier years, the retirement decision can evoke financial and emotional turmoil. The results of earlier planning efforts are brought to the forefront. Specific needs such as inheritance and unforeseen needs such as health care should be identified.

Phase 4: During Retirement

Financial planning does not stop at retirement. During retirement, it is vital to follow through on prior planning while adjusting for unforeseen occurrences. Cash flow needs must be coordinated with longevity risk, and a balance between income and spending must be reached to ensure your goals and objectives are met.

Key Private Bank Services and Solutions

Key Private Bank offers services and solutions in answer to your retirement needs - every step of the way. We can help you start a retirement plan or help bring your retirement plan to fruition by addressing the critical issues that stand between you and your goals. Whether you need investment planning and review, health care planning, risk management assessment, or legacy planning, Key Private Bank can provide the specialized services and expertise your financial situation requires. Our services and solutions include:

  • Investment Planning and Review
  • Cash Flow Analysis
  • Qualified Plan/IRA Review
  • Retirement Savings Planning, including Social Security Analysis
  • Deferred Compensation Planning
  • Retirement Distribution Planning
  • Risk Management & Asset Protection Strategies, including Life Insurance Review
  • Income Tax and Estate Tax Reduction Strategies
  • Trust and Estate Planning
  • Charitable Giving/Legacy Planning