When it comes to planning for retirement, you can never start too early—or too late.


No matter when you decide to take those next steps toward your future, our team of experienced wealth managers can guide the way. Having worked with many high-net-worth individuals as they approach the transition into retirement, Bartlett advisors have identified eight common issues that come up:

1. Are you ready to retire?

The question is actually more complicated than it first appears, because it demands consideration on two levels. First, there’s the emotional component. Second, there’s the financial component. We can explore both aspects with you to determine your readiness.

2. Timing is everything

When it comes to transitioning into retirement, timing really is everything. The age at which you retire can have an enormous impact on your overall retirement income situation, so you’ll want to make sure you’ve considered your decision from every angle. In fact, you may find that deciding when to retire is actually the product of a series of smaller decisions and calculations.

3. How much annual retirement income will you need?

How much annual income will you need in retirement? If you aren’t able to answer this question, you’re not ready to make a decision about retiring. Our team would gladly sit down and help you work towards an answer. If it’s been more than a year since you’ve thought about it, we can also assist in revisiting those calculations with you.

4. Do you plan to work in retirement?

An increasing number of Individuals nearing retirement plan to work for  a period of time during their retirement years. The obvious advantage of working during retirement is that you’ll be earning money and relying less on your retirement savings.  This will leave more of it to potentially grow for the future and helping your savings last longer, but there are also potential implications on your Social Security strategy and other aspects of your retirement plan.

5. Asset allocation

Your asset allocation strategy in retirement will probably be different than the one you used when saving for retirement. During your accumulation years, your asset allocation decisions may have been focused primarily on long-term growth. As you transition into retirement, your priorities for and demands on your portfolio are likely to be different. These changes can also fluctuate throughout your retirement years. It is important to revisit your portfolio strategy every so often to ensure it is in alignment with your personal goals.

6. Investment considerations

A well-thought-out asset allocation in retirement is essential.  Consideration must be given to the specific investments that you choose. While it’s impossible to discuss every option available, it’s worth mentioning investment choices that might have a place in the income-producing portion of your overall investment strategy.

7. Making portfolio withdrawals

When planning for retirement income, you’ll need to determine your portfolio withdrawal rate, decide which retirement accounts to tap first, and consider the impact of required minimum distributions. All of these factors come together to create a spending plan that acts as your retirement “paycheck.”

8. Health care considerations

At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There’s also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. For this reason, having health insurance can be extremely important. Be sure to incorporate health insurance research into your retirement planning.

Ready to start retirement planning?

There’s no better time to begin working toward your ideal retirement than right now. Let us know if you’d like to start the process with Bartlett Wealth Management. Together, we can discuss the lifestyle you imagine and work towards your future together. We’ll be able to confirm whether you’re on track to achieve your retirement goals, or if not, figure out how to get you there.