Know when you can retire with the lifestyle you want
The # 1 question we get asked “When can I retire and enjoy the rest of my life?”. The short answer is, we don’t know, yet, but we will once we gather the right information. Our personalized retirement plans model multiple scenarios comparing the income and expenses providing you with a clear picture of the pros and cons for each choice.
We’ve helped thousands of people, advising over $175 million on how to plan for and navigate retirement.
There are many questions we answer together to model your personalized scenarios. We look at your current and projected expenses and current and projected income at each retirement age. This includes considering penalties for pulling money out of a 401k early, taking Social Security before your Full Retirement Age, and the impact of healthcare costs retiring before or after medicare eligibility.
The Retirement Planning Process
We break down the complex retirement planning and decision making process into clear, manageable steps.
Set your Retirement Goals
Set your Retirement Goals
This is the fun part! Let’s dig into what’s most important to you - and your partner - in retirement.
Do you want to dine out twice per week, take a big family trip every summer, go on month long cruises every year, or buy and rehab your favorite classic muscle car.
Retirement should not, nor does it need to be, simply about paying the bills. With the right plan you can live your best life!
Know your Outputs
Know your Outputs
We start by understanding your life costs today. Then we adjust for each stage of retirement - The Bridge, The 1st 7 Years (Bucket 1), and Buckets 2 and 3 (Long Term Growth and Asset Preservation).
The key questions to be answered:
- What expenses go away like the mortgage?
- What may be added such as healthcare?
- What big predictable expenses need to be modeled in, such as home repairs.
- What are your ideal travel or entertainment expenses? The first 7 years of retirement is the longest vacation of your life.
With the income and expense details we calculate your net monthly income need, adjusted for inflation over time.
Analyze your Inputs
Analyze your Inputs
Next, we look at your fixed income sources such as Social Security, Pensions and 401ks. We model for the tax implications of RMDs (Required Minimum Withdrawals), including running scenarios if you’re considering relocating. (Texas and Florida have no retirement income tax, and Pennsylvania exempts all retirement income from RMDs.)
Then we run the numbers based on different retirement ages to ensure you know the pros and cons of each option, such as:
- Taking Social Security before 67 can come with a permanent reduction up to 30%
- Early withdrawals from 401ks come with tax penalties (10% if withdrawals start before 59 1/2)
- Medicare eligibility starts at 65
Your Personalized 3 Bucket Retirement Plan
Your Personalized 3 Bucket Retirement Plan
If you decide to work with us the first step is putting together your personalized 3 bucket plan. This process includes a deep dive into your current and projected income by source (such as Social Security, 401K or Pensions), and expenses based on where you live including healthcare costs, taxes, and inflation based cost of living adjustments.
Step 2 is a deep dive on the impact your geographic plans will have on cost of living increases from inflation, increased taxes, or insurance.
The final step is putting together your 3 Bucket Plan. The 3 bucket plan has 3 simple but key complimentary puzzle pieces, each with what if scenario models built into the budgets:
- Bucket 1 (Years 1 - 7) stability of income
- Bucket 2 (Years 8 - 15) higher return to refill bucket 1
- Bucket 3 (Years 16+) asset growth to refill bucket 2
Talk with Us
Elizabeth Evanisko, CRC
Wealth Manager, Founding Partner
About Elizabeth
Since 2007, Elizabeth has been bringing her compassionate, honest approach to client relationships along with her extensive professional experience. As a Wealth Manager, she has a deep commitment to helping people and enjoys the opportunity to work one-on-one with clients and help them identify their most important goals and dreams. Clear, direct advice geared toward each individual is a hallmark of Elizabeth’s style. She appreciates the hard work that went into earning and saving the money that is being entrusted to her care as a significant responsibility. Growing up - my dad owned an auto repair shop that my grandfather started. He worked with generations of people who trusted my family. Crawling under a car never enticed me, but the relationships he built on trust lasted for generations. This career allows me to have those things too.
Education and Licenses
SUNY Fredonia graduate with a double major in economics and political science.
Series 6, 26, 63 and 65 registrations.
Life, Accident & Health Insurance license.
Jeff Gelormini
Wealth Manager, Founding Partner
About Jeff
Throughout his career, Jeff has maintained his focus on helping people by making a difference in their lives. As a Wealth Manager since 2011, he thrives on helping clients make important financial decisions that allow them to achieve their long-term goals. Jeff works with clients from all walks of life, primarily professionals who seek long-term financial solutions but gets the greatest satisfaction from constructing retirement income plans that create predictable, sustainable income. Before becoming a Wealth Manager early in his career, Jeff was the Tight Ends Coach, Assistant Offensive Line Coach, and Assistant Recruiting Coordinator at Albright College, giving him coaching skills that he still applies today. Jeff believes strongly in the importance of providing financial education for his clients to empower them to make sound and informed decisions.
Education and Licenses
Ashland University educated with a major in Sport Management and Communications and a minor in Business Administration.
Series 6 and 63 registrations.
Life Insurance licensed.
Brett Komm, CSSCS, CRC
Wealth Manager
About Brett
Brett comes from a family that has dedicated their lives to serving people in their community. He grew up seeing the trials and tribulations of a family-owned business and knew that he wanted to do something that had a positive impact on people’s lives. Math and problem-solving were skills that he had always excelled at, and the Financial Services Industry was a perfect match. Brett takes the time to get to know his client’s needs and wants financially. He walks them through past experiences and maps out their financial future in different time frames. Helping them manage expectations and set achievable goals that they can work towards. There are a lot of talented people in our industry, and with advances in technology, people can find a lot of information that may be able to help them with their financial goals. When I sit down with new clients, I tell them we are entering into a relationship. I could be the smartest person in finance, but if they don’t know that I truly care about their lives/goals, then my impact won’t be felt. I believe the time I take to understand my clients and guide them to make decisions is the only way to build a strong relationship.