Retirement Planning
Create a retirement strategy that supports the life you want to live, with financial security that lasts through your golden years and beyond.
Building Your Retirement Foundation
Preparing for retirement stands as a cornerstone of sound financial management. Winnetka Financial crafts detailed retirement blueprints for individuals across Winnetka, Glencoe, Highland Park, Lake Forest, and Chicago's North Shore. We go beyond simple savings targets to design asset structures that minimize taxes and generate reliable income streams for your retirement decades.
We kick off your retirement planning by diving into where you are today financially, what retirement looks like for you, and when you plan to get there. Our team reviews every retirement account, workplace plan, Social Security possibilities, and additional income streams to map out a custom path that gets you to your retirement destination.
If you're a professional in Winnetka, an entrepreneur in Highland Park, a leader in Lake Forest, or anyone on the North Shore eyeing retirement, we clarify your choices, support smart decision-making, and help you feel secure about what lies ahead financially.
How We Approach Retirement Planning
- Deep dive into your retirement funding needs
- Assessment of existing savings and investments
- Fine-tuning retirement account strategies
- Optimizing when to claim Social Security
- Designing tax-smart withdrawal approaches
- Planning for medical and care expenses
- Connecting retirement plans with estate goals
Retirement Planning Solutions
Retirement Funding Assessment
We forecast your retirement spending by examining your current way of life, expected shifts, and inflation trends. This detailed review pinpoints the nest egg required to sustain your preferred lifestyle through retirement.
- Projecting living expenses in retirement
- Budgeting for medical and health costs
- Estimating travel and entertainment spending
- Factoring in potential long-term care needs
- Adjusting for inflation over time
Workplace Retirement Plan Enhancement
Get the most from your company retirement benefits by optimizing how much you contribute, where those dollars go, and who receives them. We ensure you capture every employer match and tax advantage available.
- Fine-tuning contribution levels
- Selecting appropriate investment mixes
- Comparing Roth and traditional options
- Updating beneficiary information
- Planning for early withdrawals when needed
Individual Retirement Account Guidance
Master the ins and outs of Traditional IRAs, Roth IRAs, SEP-IRAs, and inherited accounts through thoughtful planning. We help you extract maximum tax value and synchronize multiple retirement accounts for better results.
- Planning annual IRA contributions
- Evaluating Roth conversion opportunities
- Managing required minimum distributions
- Handling inherited IRA complexities
- Coordinating across multiple accounts
Social Security Optimization
When you start taking Social Security can dramatically affect your total lifetime benefits. We study your unique circumstances to pinpoint the best timing and approach for claiming your Social Security benefits.
- Finding your ideal claiming age
- Maximizing spousal benefit opportunities
- Planning for survivor benefits
- Balancing Social Security with other income
- Understanding tax implications
Creating Retirement Income Streams
Build a withdrawal approach that meets your income requirements without depleting your portfolio too quickly. We design income plans that keep taxes low while funding the lifestyle you want.
- Crafting sustainable withdrawal methods
- Planning distributions to minimize taxes
- Positioning assets for tax efficiency
- Sequencing income sources strategically
- Modeling portfolio sustainability
Medical & Care Expense Preparation
Prepare for health-related costs in retirement, covering Medicare decisions, gap insurance, and potential long-term care scenarios. We help you budget for these substantial retirement expenses.
- Navigating Medicare options and timing
- Evaluating supplemental coverage needs
- Assessing long-term care insurance
- Building healthcare cost budgets
- Leveraging health savings accounts
Ready to Plan Your Retirement?
Take the first step toward a secure retirement. Schedule a consultation to discuss your retirement goals and develop a personalized strategy.
Important Disclosures: Educational purposes only. Not investment, tax, or legal advice. Insurance products offered through World Financial Group Insurance Agency. Securities/investment advice available through Transamerica Financial Advisors, Inc. (TFA), member FINRA/SIPC.