Effective Pre-Retirement Financial Planning

Updated: Dec 6, 2019

Often most retire before effectively preparing for it in any meaningful way. Establishing a formal financial plan critical can assist you in determining if you can afford to do so. If you are a business owner, preparing your business before it goes up for sale is critical that is part of an overall Exit Plan. For individuals whats most critical is establishing a baseline of living expenses that involves determining if the existing place of residents is appropriate. On the income side, determining the timing of Social Security payments, the impact of income on tax brackets, and creating trusts to qualify for govt medical assistance also play a role. More over, its critical to review existing asset allocations shifting to income strategies that support your current & future living expenses. Your hard earned retirement savings needs to last many decades tied to life expectancy so its critical to map out the need to draw on principal and income via interest/dividends to assure financial soundness. Unless your expenses are planned for it will be hard to structure a portfolio strategy that not only meets your needs, but considers market risk as well. Future returns of your retirement savings will play a critical role determining what lifestyle can be supported. More complex cases involve more sophisticated Estate Planning so as to avoid taxes down the road to your heirs.


At Brecken Capital Advisors we draw on our Consulting legacy to create detailed plans that aim to maximize income while restructuring living expenses to minimize costs. For more insights see our website and disclosures found there at BCA.

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