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Your GRIP Financial advisor addresses the following questions and considerations to bring you clarity regarding When, How, How Much, and “Am I Ready to Retire?”
Tax Strategy
Why do we talk so much about Tax Strategy?
Tax strategy is the overarching connection of your comprehensive plan that maximizes your after-tax income and investments.
Topics We Cover:
Questions We Address:
When can I retire?
Do I have enough money to retire?
Will I have to spend less in retirement?
How can I reach my retirement goals?
Cash flow planning takes a detailed look at all current and future income streams, so you can get a clearer picture of where to draw cash from in retirement and how it changes over time.
Topics We Cover:
Questions We Address:
Where will my income come from in retirement?
Will I need to work part-time?
How do I leverage my executive compensation plan for my retirement?
Should I take my pension or a lump sum?
How will Inflation affect my plan?
Questions We Address:
Should I start when I retire or wait?
Will I lose my benefits?
Will my benefits be reduced?
How can I reduce taxes on SS?
Should I start my benefits at the same time as my spouse?
Turn the sale of your business into cash flow and investments for your retirement.
Topics We Cover:
Questions We Address:
Are there tax efficient ways to structure the sale of my business?
How will the proceeds be taxed?
How can the proceeds of the sale be used to produce income in retirement?
Topics We Cover:
Questions We Address:
How much risk should I have in my portfolio?
How much of my portfolio should be safe from market downturn?
Can I afford to be more conservative?
Is my allocation tax-efficient?
What types of investments are best in my Roth vs. my Traditional IRA for tax efficiency?
Do I need more growth or more income in my portfolio?
Should I leave my 401k in the employer plan or roll it into an IRA?
Topics We Cover:
Questions We Address:
Should I delay retirement until I can get Medicare?
Do I need health insurance before Medicare kicks in?
Do I still need life insurance?
How should I address the potential need for long-term care?
Will my spouse be taken care of if something happens to me?
Topics We Cover:
Questions We Address:
How can I create a giving plan for causes that are important to me?
How can I get a tax benefit for charitable contributions?
What are the best options for leaving assets to charity as part of my estate plan?
Continually minimize taxes in every phase of retirement to maximize after-tax cash flow.
Topics We Cover:
Questions We Address:
Do I have to pay taxes on an inheritance I received?
Should I consider Roth conversions?
Which account should I use for income in retirement to reduce taxes?
How will SS income impact my taxes?
Which assets should I pay taxes on now, and which should I continue to defer?
Topics We Cover:
Questions We Address:
How can I avoid probate?
What is the best way to gift to my beneficiaries?
How do I reduce taxes for my beneficiaries?
Do I need a trust?
What is the best way to leave a charitable contribution?
The GRIP Process
Consultation and
Discovery
The purpose of your discovery call is two-fold: to provide as much value to you as possible in our first meeting and to determine if we can continue to provide long-term value.
We walk through any information needed to have a content-rich consultation. We begin by evaluating your current retirement plan and recommending improvements. We then send a follow-up email recapping the key observations we discussed and a copy of our advisory agreement for your review.
Review the
Plan
Second appointments are limited to those for whom we believe we can provide material, ongoing benefit. We will demonstrate our value by reviewing a draft of the unique financial plan we create for you.
Implement Your GRIP
Retirement Plan
With your plan in place, we go step by step to finalize allocation, choose appropriate investments, and get you on the path to your optimal retirement.
Regular Strategy
Meetings
We are proactive in communication, investment management and monitoring, and scheduling ongoing reviews. We offer two targeted annual meetings. The first will be tactical and focused on cash flow, tax review, and investment allocation. The second will focus on long-term strategy validation and updates. The goal is to maintain the best plan that accounts for changes in your life circumstances and the world around you.
We combine similar access to the scale and resources of industry leaders with the personal attention and detail of a boutique firm. We are not boxed in by limited investment options.
Demystify your transition into retirement. When can I retire? How much money do I need to retire? Where does my income come from in retirement? When should I draw social security, pensions, deferred-compensation plans, or other benefits?
We aim to develop a clear path and solve for your unique challenges so you can see how and when each piece fits into your retirement puzzle.
Your questions have real solutions.
We specialize in tax-efficient planning because it can be a significant difference-maker and may impact your entire plan for better or worse.
Life is not stagnant; your plan should not be either. Our goal is to build a long-term relationship and take any changes in your life or goals into account.
We accept a limited number of new clients so we can focus on you. We provide the personalization of a boutique firm with industry-leading resources.
All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Opinions expressed herein are solely those of GRIP Financial LLC and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by GRIP Financial LLC an Investment Advisor in the State of Virginia. Being registered as an investment adviser does not imply a certain level of skill or training.
GRIP Financial LLC and GRIP Financial Solutions LLC are not affiliated with or endorsed by the Social Security Administration or any other government agency.
Insurance products and services are offered through GRIP Financial Solutions LLC, an affiliated company.
The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Virginia or where otherwise legally permitted. Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.
Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.
