Phases of Retirement Process
Key Private Bank has divided these stages into four phases, each with its own special considerations. We can guide you through these phases and make sure you’re asking the right questions to keep you on track – so you can retire on your terms.
Phase 1: Accumulation
Ten or more years left before retirement? Asset accumulation should be your principal goal. Together, we’ll review your investment strategy, establish your objectives and assess other wealth issues to prioritize your retirement needs. As life events occur, we’ll help you adjust to stay on the path.
Phase 2: Pre-Retirement
Looking at 3-10 years before you can retire? Now’s a crucial time to plan. Your earnings may be increasing substantially, and you’ll likely have a more accurate picture of personal and family needs. Your Key Private Bank team will monitor your plan closely and fine-tune based on needed adjustments.
Phase 3: At Retirement
Are you 1-2 years away from retiring? You’ll need to start identifying specific needs, like inheritance, and any unforeseen needs, such as health issues. We’ll guide you through this often emotional stage, and make sure your careful planning is rewarded.
Phase 4: During Retirement
Congratulations! You’ve made the leap into retirement – but financial planning doesn’t stop there. Key Private Bank will help you identify the most strategic assets to draw your income from. And we will remain your partner, helping you balance that income and spending to ensure you’re living the life you’ve imagined.
Key Private Bank Services & Solutions
We’re here for you, every step of the way. Key Private Bank can help set up the retirement plan you envision – and we’ll stick by your side to keep you on course. Here are some of the retirement services and solutions we provide:
- 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 and Asset Protection Strategies, including Life Insurance Review
- Income Tax and Estate Tax Reduction Strategies
- Trust and Estate Planning
- Charitable Giving/Legacy Planning