Retirement Planning

Retirement is a significant milestone, and whether it’s just around the corner or decades away, having a sound plan in place is crucial to pursuing a secure financial future. At GPS Wealth Management, our retirement planning services are designed to help you get on the right path toward a financially rewarding and fulfilling retirement. We take a comprehensive approach, assessing your current financial situation, estimating future needs, and devising a personalized plan that helps you retire with confidence.

Retirement Savings Strategy

Understanding how much you need to save for retirement is the foundation of a successful retirement plan. We help you develop a retirement savings strategy that aligns with your long-term goals and current financial situation. This includes determining the appropriate savings rate, selecting the right retirement accounts, and choosing investment options that match your risk tolerance and time horizon. Our goal is to work toward building the wealth necessary to support your desired retirement lifestyle.

Income Planning in Retirement

Once you’ve built your retirement savings, the next step is to develop a plan that structures your assets in an effort to provide a stable income throughout your retirement years. Our income planning services focus on converting your savings into a reliable income stream that covers your living expenses and allows you to enjoy your retirement. We help you determine the most tax-efficient withdrawal strategies, optimize your investment mix for income generation, and plan for required minimum distributions (RMDs). Our goal is to seek to optimize your retirement income so it is sustainable and that your savings last as long as you need them to.

Social Security Optimization Strategies

Social Security benefits are a critical component of retirement income for many individuals. However, the timing and strategy you choose for claiming Social Security can significantly impact your overall retirement income. Our advisors provide knowledgeable guidance on Social Security optimization, helping you determine the best time to claim benefits based on your individual circumstances. We also explore strategies for maximizing spousal benefits and minimizing the tax impact of Social Security income. By optimizing your Social Security benefits, we aim to enhance your overall retirement income and improve your financial security.

Retirement Account Management

Managing your retirement accounts, such as IRAs, 401(k)s, and other tax-advantaged savings vehicles, is a key part of our retirement planning services. We help you select the right accounts, manage your contributions, and monitor your investment performance to work towards growing your retirement savings effectively. Our team also provides guidance on rollovers, Roth conversions, and other strategies to maximize the tax efficiency of your retirement accounts. By actively managing your retirement accounts, we help you stay on track to pursue your retirement goals.

How You Benefit

Our retirement planning services provide you with a clear understanding of how much you need to save, how to invest wisely, and strategies that seek to make your retirement savings last. With GPS Wealth Management by your side, you can approach retirement with confidence, knowing that you have a comprehensive plan tailored to your unique needs. We are here to help you navigate the complexities of retirement planning, allowing you to focus on enjoying this next chapter of your life.

Let Us Help You Plan Your Future

At GPS Wealth Management, we’re committed to helping you pursue a confident and joyful retirement. Start your journey with us and take the first step towards a well-prepared future.