Years of building your career, supporting your family, and creating impact deserve a payoff. Retirement on the horizon should mean freedom and choice, not financial uncertainty.
Many people enter retirement with more questions than answers. The biggest risk? Waiting too long to develop a clear plan.
The Real Cost of Healthcare
With longer lifespans, rising healthcare costs, and market volatility, stakes are higher than ever. According to Fidelity's 2023 Retiree Health Care Cost Estimate, a 65-year-old couple will need approximately $315,000 saved (after tax) to cover healthcare expenses in retirement. These aren't luxuries—these are baseline costs even with Medicare coverage.
Procrastination has real consequences as compound growth becomes less powerful as your timeline shortens. Future expenses, particularly healthcare and long-term care, get underestimated. Tax-efficient withdrawal strategies require advance planning to implement effectively. And Social Security claiming decisions can't be easily reversed once made.
Research from the Center for Retirement Research at Boston College shows that delaying Social Security from age 62 to 70 increases monthly benefits by approximately 76%. Yet most Americans claim benefits before full retirement age, potentially leaving significant income on the table. This single decision can mean hundreds of thousands of dollars over a retirement that may last 25-30 years.
What Planning Actually Does
A financial advisor helps you approach retirement with clarity rather than anxiety. Together, you model scenarios based on specific lifestyle goals and planned expenses. You plan for healthcare costs, inflation, and longevity using realistic projections. A thoughtful withdrawal strategy helps you work toward tax efficiency while providing needed income. And investments align with your retirement timeline, balancing growth potential with appropriate risk management.
Starting doesn't require having everything figured out. A brief call helps you understand where you stand, what's possible, and how to move forward with confidence. Financial planning for retirement isn't about achieving perfection—it's about making informed decisions based on your unique circumstances and goals.
You should look forward to your retirement, not be kept up at night with worry.
Let's make sure you're positioned as well as possible for this next chapter.
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Important Disclosures:
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.
Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA & SIPC.