Retirement Planning
The process of retirement planning extends beyond simply contributing a portion of your paycheck to a retirement account. The saving and investment strategies you employ before and during retirement can have a lasting impact on your financial independence, lifestyle, and flexibility throughout retirement. Our team helps coordinate the many pieces of your financial life into a retirement strategy that is designed to adapt to changing circumstances, including rising costs, healthcare needs, and evolving financial priorities.
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Will you be able to retire the way you want to?
Retirement and the life that comes after it are personal to every client who walks through our door. We help you define your retirement lifestyle goals, whether that’s retiring early, traveling more, or moving closer to family, and create a financial strategy designed to help keep you on track as your goals and circumstances evolve.
Why thoughtful retirement planning is critical
Retirement planning requires a long-term outlook that often begins decades before you stop working. While many people start thinking more seriously about retirement in their 50s, the financial decisions you make throughout your 20s, 30s, and 40s can shape the flexibility and financial independence you have later in life. Regardless of where you are in the process, we work with individuals at every stage, from accumulating wealth and preparing for retirement to creating a sustainable income strategy throughout retirement.
The stages of retirement we support
Preparing for Retirement
Transitioning into Retirement
Living in Retirement
Refining your plan to fit you
Your retirement plan should be woven into your overall financial plan, serving as the foundation for your long-term financial future. We work with you to refine your strategy throughout retirement by helping you:
See how we have helped guide our clients’ financial lives with clarity and purpose
Retired Senior Financial Executive at a Large CorporationWife, Parent, Mid-70sI chose the team after an extensive search because they tailored asset management to our family’s needs, including our two adult sons with special needs. Unlike our past advisors, they understood and prioritized our family’s objectives.
This individual is a client of Hightower Signature Wealth & Hightower Advisors, LLC. No compensation was given in exchange for their testimony. Client testimonials provided may not represent the experience of other clients and are not a guarantee of future performance or success.
- Clinical Psychologist Turned Business Owner After Husband’s DeathWidow, Parent, Late 60s
I never anticipated the emotions and strong connections I have with my team. They will be there for my children when I’m no longer here. My life is so much easier having them as part of the equation.
This individual is a client of Hightower Signature Wealth & Hightower Advisors, LLC. No compensation was given in exchange for their testimony. Client testimonials provided may not represent the experience of other clients and are not a guarantee of future performance or success.
- Retired Human Resources ExecutiveSingle, Caretaker of Mother, Mid-60s
My advisor has played a huge role in my planning process. My transition into retirement was well thought out. They helped consolidate my company stock and investments into one place and create a plan for retirement.
This individual is a client of Hightower Signature Wealth & Hightower Advisors, LLC. No compensation was given in exchange for their testimony. Client testimonials provided may not represent the experience of other clients and are not a guarantee of future performance or success.
- ENT Doctor Approaching RetirementHusband, Mid-70s
I have been a client for more than 20 years through changing markets and economic cycles. Their integrity, sound judgment, and client-first approach have earned my trust, and I highly recommend them to anyone seeking a trusted investment partner.
This individual is a client of Hightower Signature Wealth & Hightower Advisors, LLC. No compensation was given in exchange for their testimony. Client testimonials provided may not represent the experience of other clients and are not a guarantee of future performance or success.
Explore our recent insights
Have questions?
Retirement planning can start as early as you get your first job after college. Gradual contributions over time can help your wealth accumulate through the power of compounding. As your career progresses, your savings strategy should evolve alongside your income and financial goals. The earlier you begin planning, the more flexibility you may have when it comes time to retire.
The amount you need for retirement depends on the lifestyle you want to maintain, your expected expenses, healthcare costs, taxes, and other income sources such as Social Security or pensions. While many estimates suggest Americans may need around $1.46 million for retirement, there is no one-size-fits-all number. Instead, focus on creating a retirement income strategy that aligns with your goals, spending needs, and long-term financial priorities.
A financial advisor can help you see the bigger picture by showing how retirement planning fits into your overall financial plan and tracking your progress toward your goals. They can also help evaluate retirement savings strategies, investment opportunities, retirement income, and tax considerations while making recommendations as your financial situation and retirement goals evolve.
The answer varies from person to person. Your full retirement age (FRA) depends on your birth year and is age 67 for anyone born in 1960 or later. If you claim Social Security before reaching your FRA, your monthly benefit will be reduced. Some individuals benefit from claiming earlier, while others may benefit from waiting. An advisor can help you determine which claiming strategy best fits your retirement plan.
Your retirement plan should be reviewed at least once a year. However, additional reviews may be appropriate if you’ve experienced a major life event, such as changing jobs, retiring, receiving an inheritance, or welcoming a new family member. Market volatility or changes in your financial goals may also warrant revisiting your retirement strategy.
Once you retire, your paycheck stops, and your retirement income begins to come from sources such as retirement accounts, investments, Social Security, pensions, and personal savings. This transition often requires a different approach to managing your finances. A thoughtful retirement strategy can help you manage withdrawals, adjust to changing expenses, and support the lifestyle you’ve worked hard to achieve.
