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After a successful career, you’re likely looking forward to retirement with a mix of both excitement and trepidation. This welcome transition can be daunting, especially when it comes to financial planning. Key Private Bank can help you prepare for a rewarding retirement, while mitigating financial risks – so you can live comfortably and also preserve some of your wealth for the next generation.

Understanding your needs

You’ve saved for this your whole life. Now that you’re retiring, you’ll get to enjoy more of the hard-earned fruits of your labor. But for how long? You need to ensure that you can maintain the lifestyle you desire, while also planning for the unexpected. Building a strategic financial plan is the best approach to making your wealth last.

Developing your plan

As you plan your retirement, these questions will help you stay focused on preparing a solid wealth management strategy.

  1. How will you plan to manage growing healthcare costs as you age?
  2. Do you understand Medicare, and are you aware of the deadlines associated with securing comprehensive health insurance?
  3. How long should I be planning for? What is my life expectancy?
  4. When should I claim Social Security?
  5. What are my income sources during retirement?
  6. How can I monitor my spending in retirement to avoid prematurely depleting my investments?
  7. What if I need extended nursing care that could deplete my assets?
  8. Is my investment portfolio allocated appropriately given my decreased capacity for risk and shorter time horizon?
  9. Have you accounted for inflation?
  10. Who will make medical and financial decisions for me if I become incapacitated?
  11. Now that my income sources are limited, how can I monitor my spending habits?
  12. Which types of accounts should I withdraw from first – taxable, tax-deferred or tax-free?

Working together for a solid financial future

Key Private Bank can help bring your retirement plan to fruition by helping to coordinate your cash flow needs with longevity risks, as well as balance your income and spending. Whether you need investment guidance, healthcare planning, an asset protection strategy, advice on charitable giving or help planning your estate; we’ll help you achieve your goals and objectives – so you can afford to retire comfortably.

Access Our Expertise and Insights

Browse our resources and articles below to learn more about the latest trends that could impact your
wealth management as a retiree.

Planning for Retirement

Understanding IRA Strategies for Retirement

Often, high-net-worth clients have accumulated significant wealth on a tax-deferred basis in individual retirement accounts (IRAs) and employer-sponsored retirement plans.

April 2021
Our Insights

Our Insights

March 2018
Planning for Retirement

Social Security Claiming Strategies for Married Couples

Deciding when to begin receiving Social Security benefits is a major financial issue for anyone approaching retirement.

April 2018

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