Broker Check

Retirement Planning

Retirement planning isn’t just something that happens late in life. It’s something that should be planned for ahead of time. Richard Blair works with affluent individuals, families, and small business owners through the many stages of retirement planning, from building and managing wealth, to transitioning into and living in retirement.

Many of Richard’s clients have accumulated assets but aren’t sure how to develop an effective retirement plan or where to even start. For example, the 401(k) plan has become one of the largest sources of retirement savings for a majority of American workers. The money in a 401(k) savings plan may represent a substantial portion of one’s income during retirement. This means a 401(k) allows an individual to potentially build a significant nest egg because of tax-deferred growth. For those who do not have the time or the financial interest, properly allocating a 401(k) can be a daunting task.

Richard seeks to help his clients navigate these complex retirement issues. He works with clients to identify opportunities for building wealth while employing conservative investment strategies. This ranges from contributing to a 401(k) plan to identifying appropriate IRA investments, mutual funds, and annuities.

As clients transition into retirement, Richard can offer advice on when to take Social Security, how to minimize taxes, and how to create a steady income stream. Retirement income planning, which is one of Richard’s specialties, includes analyzing income sources, managing assets, and determining future expenses. He can also help clients determine appropriate long-term care solutions.

For clients living in retirement, Richard can help his clients formalize their legacy and estate planning needs. Estate planning is essential and the larger the estate, the more critical it can be to plan what happens to it when one passes. In order for clients to ensure their wishes are carried out, as opposed to the state handling their assets according to probate laws, they need to plan for their estate and provide instructions that not only include who will receive what, but when and how (with most hoping to do so with the least amount of taxes or other fees). Richard can work with clients’ other trusted advisors, including attorneys, to assist in ensuring an estate plan is in place.

Effective retirement planning is essential for clients wanting to sustain their lifestyle in retirement. The golden rule in retirement is to act now.