Your retirement date depends on your overall financial plan.  How does your current plan measure up to your long-term goals?  We can generally safely state that your retirement age does impact your retirement income and don’t forget that retirees still pay taxes!  This is a huge decision for most of us and one that we would be happy to assist you with.

Unfortunately, there is no magic number here!  This depends on your long-term goals and future income like social security, pension or retirement benefits and any other income streams.  We can assist you with assessing if your long-term retirement plans are sustainable.

We an assist you in determining how your 401(k) or other employer retirement plan fits into your broader retirement plan.  We will also work with you to assess how your plan is impacted by other employer provided benefits such as flexible spending accounts, health savings accounts and employee equity incentives.  Remember, if your employer offers contribution matching to your retirement plan, it is generally advisable to fund enough to at least get the full employer match.

The general approach for the most tax-efficient order of withdrawals from retirement savings is to draw down your taxable accounts, followed by tax deferred accounts such as IRA’s or retirement plans, finally the non-taxable accounts such as Roth IRA’s.  however, your situation is unique and this may not be the best advice for you.  We’d be happy to assist you in this analysis.