Whether you have a rewarding career, or are running your own company, there will come a point when you want to retire (or just step back) and enjoy life. Ensuring you have enough money for all your financial needs and wealth goals, however, presents its own set of challenges. Find out how we can help. Our full service offering provides you with access to a range of expertise that allows you to preserve, grow and transfer your wealth for the benefit of you and your family.


Planning for retirement is a way to help you maintain the same quality of life in the future. You might not want to work forever, or be able to fully rely on Social Security. Retirement planning has five steps: knowing when to start, calculating how much money you'll need, setting priorities, choosing accounts and choosing investments. Generally, financial advisors suggest you invest more aggressively when you’re younger, then slowly dial back to a more conservative mix of investments as you approach retirement age


When you can retire comes down to when you want to retire and when you'll have enough money saved to replace the income you receive from working. The earliest you can start claiming Social Security benefits is age 62. [1] However, by filing early, you'll sacrifice a portion of your benefits. If you were born in 1960 or later, full retirement age (which is also full Social Security benefits age) is 67. And your benefit will actually increase if you can delay it further, up until age 70.Some people retire early (because they want or have to), and many retire later (again, because they want or have to). Many people find it's best to slowly ease out of the workforce rather than retire abruptly.


Retirement planning has several steps, with the end goal of having enough money to quit working and do whatever you want. Our aim with this retirement planning guide is to help you achieve that goal.

Know when to start retirement planning.

When should you start retirement planning? That's up to you, but the earlier you start planning, the more time your money has to grow.That said, it’s never too late to start retirement planning, so don't feel like you've missed the boat if you haven't started. Even if you haven’t so much as considered retirement, every dollar you can save now will be much appreciated later. Strategically investing could mean you won't be playing catch-up for long.


Figure out how much money you need to retire

The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses will change in retirement, and how they won’t. For example, Washington Post columnist Michelle Singletary suggests people set a retirement budget, because you’ll probably still want to take vacations, go out to dinner, and you may still have car or home maintenance costs. The typical advice is to replace 70% to 90% of your annual pre-retirement income through savings and Social Security. For example, a retiree who earns an average of $63,000 per year before retirement should expect to need $44,000 to $57,000 per year in retirement.


Prioritize your financial goals

Retirement is probably not your only savings goal. Lots of people have financial goals they feel are more pressing, such as paying down credit card or student loan debt or building up an emergency fund. It's a good rule if thumb to save for retirement while you're building your emergency fund — especially if you have an employer retirement plan that matches any portion of your contributions.


Choose the best retirement plan for you

A cornerstone of retirement planning is determining not only how much to save, but also where to save it. If you have a 401(k) or other employer retirement plan with matching dollars, consider starting there. If you don’t have a workplace retirement plan, you can open your own retirement account. There is no single best retirement plan, but there is likely a best retirement plan — or combination of retirement accounts — for you. In general, the best plans provide tax advantages, and, if available, an additional savings incentive, such as matching contributions. That's why, in many cases, a 401(k) with an employer match is the best place to start for many people. Some workers are missing out on that free money. Section 101 of the Secure 2.0 Act [2] noted that Black, Latinx and lower-wage employees were less likely to participate in their work's retirement plan compared with their colleagues. A new provision in the law establishes automatic enrollment in retirement plans to help increase participation for all employees


Retirement accounts provide access to a range of investments,

including stocks, bonds and mutual funds. Determining the right mix of investments depends on how long you have until you need the money and how comfortable you are with risk. Generally, the idea is to invest aggressively when you’re young, and then slowly dial back to a more conservative mix of investments as you approach retirement age. That’s because early on you have a lot of time for your money to weather market fluctuations — a few bad years won’t ruin you, and your nest egg should benefit greatly from the stock market’s history of long-term growth. Investing for retirement evolves alongside you as you change jobs, add to your family tree, endure stock market ups and downs and get closer to your retirement due date. Your investments don't necessarily require constant babysitting. If you want to manage your retirement savings on your own, you can do it with just a handful of low-cost mutual funds. Those who prefer professional guidance can hire a financial advisor from DAM.


Whatever your circumstances and needs, you should have the benefit and comfort of a detailed and bespoke plan to help you reach your financial goals.

We pride ourselves on providing you with a personal wealth plan, with regular reviews, so your financial goals are front and center of any decision. We can work with your existing tax and legal advisers, as well as facilitate specialist expert advice as needed, so there is a comprehensive and robust strategy that delivers the best possible outcome for you and your family.


As people approach retirement and become increasingly reliant on their investments, pensions and savings to fund their lifestyle, how can you make sure you will achieve financial success given the many additional risks facing retirees. The answer lies in a wealth plan, that is unique to you, and an investment service which will help navigate the challenges ahead to achieve your financial goals over the rest of your life.


As part of your wealth plan, we will help you structure your wealth in the most efficient manner to achieve your financial goals. With your wealth plan in place, it’s important that we use the right investment and wealth structures that are appropriate for your needs and suitable for your circumstances. We will take into account considerations such as:

  • The tax-efficient accumulation of wealth
  • Planning for a successful retirement
  • The transfer of wealth to the next generation
  • Leaving a lasting legacy through charitable giving.


Having accumulated investments, pensions and savings, are you confident you can enjoy a comfortable life in retirement? This phase in life is known as decumulation, but have you accrued enough to draw down and meet all your goals? It’s also worth noting there are a new set of challenges and risks, which can be difficult to navigate without professional financial advice and guidance.

Whether you are looking ahead to retirement, about to retire, or are already a retiree, we work with you to develop a comprehensive approach that encompasses all of your assets through a wealth plan, including a detailed, personal decumulation profile. At this crucial stage of your life, we listen to what’s important to you and seek to appreciate your financial and life goals over the short, medium and long term, as well as anticipate future hurdles.

In taking the time now, we can ensure you have the right plan for you and your family to achieve financial success in retirement.

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