Our News

Follow through on these items before your “second act” begins.

What should you try to do within five years of deciding to retire? Put these items on your to-do list.

Estimate the monthly income you will need. It might be less than you need now, as your monthly expenses may decline. Talk with your financial advisor, as you may need to adjust or reallocate your portfolio and take another look at both income-producing and growth investments.

Should you stay or move? Retiring to another state may mean tax savings. Or, downsizing to a smaller home may lower your living expenses.

Think about debt and taxes. You may retire to a lower income tax bracket. If you can stand the one-time tax hit, converting a traditional IRA to a Roth IRA could someday give you a source of tax-free retirement income.*

Consider healthcare costs. Will you be eligible for Medicare? Will Medicare provide enough coverage? Remember that many retirees will eventually need long-term care at some point during retirement.

What would you like to start doing? How can you structure your days (and your finances) to do it? Plan it out.

* Traditional IRA account owners should consider the tax ramifications, age and income restrictions in regards to executing a conversion from a Traditional IRA to a Roth IRA. The converted amount is generally subject to income taxation.

I’d like to help you plan a smooth retirement transition. Call or email me with your questions. I’m here for you.

LET’S CONNECT

 

Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Patriot Financial Group, a registered investment advisor. Patriot Financial Group and Summit Star Financial are separate entities from LPL Financial.

The information contained in this e-mail message is being transmitted to and is intended for the use of only the individual(s) to whom it is addressed. If the reader of this message is not the intended recipient, you are hereby advised that any dissemination, distribution or copying of this message is strictly prohibited. If you have received this message in error, please immediately delete.
This material was prepared for John A. Gordon and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note: Investing involves risk, and past performance is no guarantee of future results.
The publisher is not engaged in rendering legal, accounting, or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information
should not be construed as investment, tax, or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell
any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

tracking #1-566655