Rizzo is Retirement!
We offer simple solutions to Retirement and address all of the following concerns below:
- Income planning
- Social Security planning
- Retirement Projections
- Employee Benefits
- Charitable gifting
- Investment withdrawal strategies
- Estate Planning
Retirement Factors
What are some of the factors that affect your retirement?
The number of years remaining actively working before retirement
Time period beginning at retirement and ending at death
How much money you've effectively saved, will determine if you outlive your money
How much money will you spend monthly/annually to live the lifestyle you desire in Retirement?
The replacement ratio helps you calculate how much income you'll need to maintain your pre-retirement lifestyle. It is calculated by dividing your estimated retirement income by your pre-retirement income.
For example, if your pre-retirement income is $100,000 and your estimated retirement income is $70,000, your income replacement ratio would be 70%. A good ratio is 70-85 percent of pre-retirement income.
Inflation is the silent killer of all portfolio returns and diminishes our purchasing power over time. It is best to plan for 3-5% inflation annually to outpace inflation every year.
What sources of income will you have in retirement? ie: social security, pension, investment income, employer retirement plan, rental income, annuities, royalties, We specialize in Retirement Income Planning and can help Identify Income shortfalls in your plan.
Market conditions and volatility will impact your annual returns which could impact the longevity of your retirement without the proper diversification and planning.
Our Retirement Income Process
1. Gather Data/Get to know you
2. Establish and Identify Goals/Aspirations
3. Review Income Sources (Salary/Pension/Social Security, Rental, etc)
4. Examine Expenses, both Essential and Discretionary
5. Determine Risk Tolerance
6. Analyze Tax profile and Inflation
7. Social Security and Pension Maximization strategies
8. Estate Planning and Insurance Needs Analysis
9. Develop Retirement Income Plan
10. Review. Monitor and revise plan as needed.
Legacy Planning
We work closely with Estate planning attorneys to make sure you are getting the proper advice you need. Establishing a well-structured plan for your assets after you are no longer around ensures a efficient transfer of your estate to your beneficiaries; but also helps minimize the potential for family disputes and legal complications.
Estate Planning
Some strategies provide tax deferral, ensuring taxes are only incurred upon withdrawal. Additionally, products like life insurance, when structured appropriately, present the opportunity to leverage income-tax-free income. For many clients, securing their family’s legacy is a top priority within their financial plan.