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Retirement Planning

Employer Retirement Plan

At Modern Wealth, we specialize in providing expert investment guidance to craft a retirement plan that’s as unique as your aspirations. Our approach is both rigorous and innovative, focusing on long-term wealth growth and preservation. We analyze market trends and economic cycles to optimize your asset allocation, ensuring your portfolio is well-positioned to maximize returns and minimize risk.

Being mindful of fees is essential in investment planning, particularly regarding expense ratios which can impact your returns. We evaluate various factors such as the cost-effectiveness of active vs. passive management and the overall impact of fees on your investment strategy. This ensures that your retirement plan is efficient and aligned with your financial goals.

We also focus on optimizing your salary deferral to enhance your retirement savings and capitalize on tax benefits. By staying abreast of IRS limits, ensuring you receive the full employer match, and making regular adjustments in line with the latest tax laws, we help you secure a financially comfortable retirement.

Retirement Plan Confidence

Modern Wealth employs a Monte Carlo simulation in our Retirement Probability Analysis to evaluate the success of your financial plan, aiming for an 85% success rate as the benchmark for stability. This means in 850 out of 1,000 scenarios, you won’t run out of money during retirement. We consider scores below 85% as too risky, while scores near 100% may indicate over-saving. Our analysis is flexible, allowing adjustments to retirement age, spending, savings, and Social Security timing to optimize your plan.

Our Retirement Confidence Analysis presents 1,000 possible retirement outcomes, providing a percentile-based projection of your assets. The middle 90% range offers a realistic expectation of asset values, while the core 50% and median value simplify the understanding of your potential financial standing in retirement.

At Modern Wealth, our analytical tools are designed to give you a clear and confident view of your retirement finances. We balance risk and reward to ensure your retirement strategy is robust yet realistic, providing peace of mind as you plan for the future.

Retirement Savings and Income

Our Retirement Savings Analysis tool offers a comprehensive look at your savings journey towards retirement. It presents four key visualizations: Current Year Savings to track this year’s savings, Savings Over Time to monitor the growth of your savings across the years, Savings Rate to display the portion of your income saved each year, and Total Savings and Returns to provide a holistic view of your savings combined with investment returns. These graphs are designed to help you understand and optimize your savings strategy for a secure retirement.

The Retirement Plan Analysis complements this by providing three additional graphs that delve into the specifics of retirement spending, income sources, and withdrawal rates. The Retirement Spending graph categorizes your projected retirement expenses, while the Income Sources graph compares various income streams against different return scenarios. Lastly, the Withdrawal Rate graph illustrates the annual percentage of your investments you’ll need to withdraw to fund your retirement, factoring in mandatory distributions.

In essence, these analyses serve as a dual toolkit to ensure you’re well-prepared for retirement. By offering a detailed breakdown of both your savings progress and retirement plan, you can make informed decisions to adjust your strategies and ensure your retirement funds will meet your future needs. These tools aim to provide clarity and confidence in your financial planning for retirement.

Social Security Planning

Our dynamic Social Security tool is designed to optimize Social Security withdrawals, offering a simplified process for selecting the best filing strategy from over 700 possibilities. Our tool’s features include a comprehensive comparison of strategies, a tailored optimization process that accounts for various benefits and starting ages, and graphical insights that illustrate the financial impact of each strategy. Additionally, clients can adjust the discount rate to personalize the strategy further and integrate the chosen approach into their overall retirement planning.

Our tool’s analysis is a crucial component of Retirement Income Planning, aiming to maximize Social Security benefits tailored to your financial situations. It provides clear comparisons and visualizations to aid in informed decision-making regarding the timing of Social Security benefits. Customized strategies take into account the full financial picture, including spousal and survivor benefits, ensuring a holistic approach to retirement planning.

Leveraging cutting-edge technology, we simplify the complex decision-making process associated with Social Security withdrawals. It allows for personal preference adjustments and easy implementation into retirement plans, highlighting our expertise in financial planning. This innovative tool exemplifies how modern solutions can enhance financial strategies, potentially increasing benefits and contributing to a more secure retirement.

Medicare Planning

Our Medicare Planning platform is a comprehensive tool designed to simplify the healthcare decision-making process for those nearing the age of 65. Through a series of personalized questions, users can determine the most suitable Medicare plan based on their travel habits, health status, and financial preferences. The platform’s intuitive design uses visual cues like blue checkmarks and red ‘X’s to guide users through the selection process, ensuring a clear understanding of each option’s coverage details.

We offer a user-friendly comparison feature, allowing individuals to easily switch between different Medicare plans to evaluate their coverage. We also provide a detailed summary of what’s included and excluded in each plan, alongside tailored enrollment guidance based on one’s Social Security and existing group plan coverage. With customized enrollment periods and additional insights into Medicare coverage, our platform aims to equip clients with all the necessary information for informed decision-making.

Emphasizing ease and personalization, our platform demystifies the complexities of Medicare. We offer clear, step-by-step enrollment instructions and is customized to meet individual needs and preferences. The goal is to make retirement planning straightforward and stress-free. Our approach ensures that users can confidently navigate their healthcare options and plan for a secure financial future as you transition into retirement.

Exploration Call

Join us for a complimentary 30-minute chat focused on your needs, goals, and vision. Enjoy a relaxed, no-pressure session to learn about our process and ask any questions. We’re here to listen, not to sell. Let’s discover what’s possible together!