Growing your wealth strategically is key to achieving goals like a happy retirement. Planning for your future includes carefully considering your investment options.

Providing your loved ones with the best possible quality of life requires patience, coordination, and careful planning.

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Your employees are the backbone of your business. Show them you’re invested in their health and future with a competitive benefits program.

Planning for Your Retirement

Every major financial decision you make impacts your retirement.

The average life expectancy continues to increase which means you may spend 30 years or more in retirement. That makes ongoing planning, including starting early and shifting your approach as you get older, extremely important if you want to maintain your purchasing power and live a long, comfortable life.

Here at Barnum, we recommend the following key steps to take at each stage of your career and into retirement.

Making the right moves now can put you in a much better position when that day comes.

Here are some tips:

Create a budget and stick with it.
Establish an emergency fund.
Develop a disciplined approach to saving.
Put the power of compound interest to work for you.
Leverage your employee benefits, such as 401(k) plans and company match.
Consider opening an individual retirement account (IRA).
Become a student of investing.

These are both your peak earning years and a time of major expenses, such as raising a family and homeownership.

Here are some things to do to keep you on track for an enjoyable retirement:

Establish priorities. For example, if you want to retire early, you may want to scale back on vacations and invest more for your long-term goals.
Capitalize on allowable annual retirement contributions (which increase at age 50). Once you reach your maximum contribution limits for tax-advantaged retirement options, identify other ways to save, such as after-tax contributions and deferred compensation plans.
Make sure you have adequate insurance to protect yourself and your loved ones, including life, health, disability, and property and casualty.
Balance college funding with your retirement goals.
Understand tax diversification.
Give your savings rate a raise every time you get one.

All your retirement dreams are starting to come into focus.

Here are ways to make sure you are ready when the big day comes.

Build your team of trusted advisors, including your financial advisor, accountant, and attorney.
Review wills, trusts, and beneficiary designations.
Plan for the tax impact of taking distributions from 401(k)s, IRAs, and other sources of income, including employer pension plans, Social Security, annuities, and deferred compensation plans.
Prepare for significantly higher health care costs. Consider a Health Savings Account which offers pre-tax contributions, tax-deferred growth, and tax-free withdrawals for qualified expenses.

You are now moving from accumulation of wealth for retirement to preserving your purchasing power in retirement.

Here are some steps to help:

Develop a cash flow plan to understand your monthly expenses.
Monetize savings to replace income stream. Work with your financial advisor to develop an income drawdown strategy based on a comprehensive review of all of your sources of funds.
Manage risk by rebalancing your portfolio.
Put off collecting Social Security (up to age 70) to receive higher benefits.
Reduce potential medical costs by keeping in good health.

This is essentially the last transition in your life.

You may still have many years ahead, so follow these tips to help live a financially secure life and plan your legacy:

Plan for the tax implications of taking required minimum distributions (RMDs) from IRAs.
Consider possible lifetime giving strategies if you have sufficient assets.
Use IRA Qualified Charitable Distributions (QCDs) as a tax-efficient distribution strategy. You must be over 70½, and the allowable maximum is $100,000 per year.
Consider legacy and wealth transfer planning with retirement assets.
Review and update your estate planning documents.
Share your final wishes with your family.

Making the right moves now can put you in a much better position when that day comes.

Here are some tips:

Create a budget and stick with it.
Establish an emergency fund.
Develop a disciplined approach to saving.
Put the power of compound interest to work for you.
Leverage your employee benefits, such as 401(k) plans and company match.
Consider opening an individual retirement account (IRA).
Become a student of investing.

These are both your peak earning years and a time of major expenses, such as raising a family and homeownership.

Here are some things to do to keep you on track for an enjoyable retirement:

Establish priorities. For example, if you want to retire early, you may want to scale back on vacations and invest more for your long-term goals.
Capitalize on allowable annual retirement contributions (which increase at age 50). Once you reach your maximum contribution limits for tax-advantaged retirement options, identify other ways to save, such as after-tax contributions and deferred compensation plans.
Make sure you have adequate insurance to protect yourself and your loved ones, including life, health, disability, and property and casualty.
Balance college funding with your retirement goals
Understand tax diversification.
Give your savings rate a raise every time you get one.

All your retirement dreams are starting to come into focus. Here are ways to make sure you are ready when the big day comes.

Build your team of trusted advisors, including your financial advisor, accountant, and attorney.
Review wills, trusts, and beneficiary designations.
Plan for the tax impact of taking distributions from 401(k)s, IRAs, and other sources of income, including employer pension plans, Social Security, annuities, and deferred compensation plans.
Prepare for significantly higher health care costs. Consider a Health Savings Account which offers pre-tax contributions, tax-deferred growth, and tax-free withdrawals for qualified expenses.

You are now moving from accumulation of wealth for retirement to preserving your purchasing power in retirement.

Here are some steps to help:

Develop a cash flow plan to understand your monthly expenses.
Monetize savings to replace income stream. Work with your financial advisor to develop an income drawdown strategy based on a comprehensive review of all of your sources of funds.
Manage risk by rebalancing your portfolio.
Put off collecting Social Security (up to age 70) to receive higher benefits.
Reduce potential medical costs by keeping in good health.

This is essentially the last transition in your life.

You may still have many years ahead, so follow these tips to help live a financially secure life and plan your legacy:

Plan for the tax implications of taking required minimum distributions (RMDs) from IRAs.
Consider possible lifetime giving strategies if you have sufficient assets.
Use IRA Qualified Charitable Distributions (QCDs) as a tax-efficient distribution strategy. You must be over 70½, and the allowable maximum is $100,000 per year.
Consider legacy and wealth transfer planning with retirement assets.
Review and update your estate planning documents.
Share you final wishes with your family.

Find out how to secure your financial future

Achieving your financial goals doesn’t happen by accident. It takes patience and planning to create the kind of possibilities that money can buy.

Planning for Your Retirement

Making the right moves now can put you in a much better position when that day comes.

These are both your peak earning years and a time of major expenses, such as raising a family and homeownership.

All your retirement dreams are starting to come into focus.

Here are ways to make sure you are ready when the big day comes.

You are now moving from accumulation of wealth for retirement to preserving your purchasing power in retirement.

This is essentially the last transition in your life.

Making the right moves now can put you in a much better position when that day comes.

These are both your peak earning years and a time of major expenses, such as raising a family and homeownership.

All your retirement dreams are starting to come into focus. Here are ways to make sure you are ready when the big day comes.

You are now moving from accumulation of wealth for retirement to preserving your purchasing power in retirement.

This is essentially the last transition in your life.

Find out how to secure your financial future

Our financial professionals are here to support you.

Phone: +1 (888) 712-2310

6 Corporate Drive,
Shelton, CT 06484

Americans In The Workplace Study

Planning for Your Retirement

Making the right moves now can put you in a much better position when that day comes.

Making the right moves now can put you in a much better position when that day comes.

These are both your peak earning years and a time of major expenses, such as raising a family and homeownership.

All your retirement dreams are starting to come into focus. Here are ways to make sure you are ready when the big day comes.

You are now moving from accumulation of wealth for retirement to preserving your purchasing power in retirement.

This is essentially the last transition in your life.

Find out how to secure your financial future

Our financial professionals are here to support you.

Phone: +1 (888) 712-2310

6 Corporate Drive, Shelton, CT 06484

Americans In The Workplace Study

6 Corporate Drive,
Shelton, CT 06484