Even if you are years away from realizing it, now’s the time to start planning the retirement you envision for yourself. Today’s seniors live longer, healthier lives than at any time in the past, and can expect to spend more years in retirement than their parents or grandparents did. Partnering with DZH Phillips is the first step in crafting a plan to achieve the secure, comfortable retirement you deserve.
Retirement plans can be structured to meet specific business or personal objectives. For instance, a retirement plan can be designed as a savings plan for employees or as an incentive for key executives. DZH Phillips can help you determine the best type of plan to meet your specific goals. We focus on the legal requirements, tax implications, funding structure, actuarial considerations, administrative procedures, and investor education that need to be in place to ensure the success of your retirement plan.
Most people focus their retirement planning efforts on growing the balances in their retirement accounts. However, equally important as accumulating your retirement savings is learning how to structure an optimal distribution of plan funds. This can be a difficult process, especially given the many unpredictable factors facing retirees: inflation, rising health care costs, and long-term care. The retirement planning experts at DZH Phillips have the practical experience and objective advice you’ll need to develop a distribution plan that will ensure your retirement income will last a lifetime. We’ll work with you to analyze your financial needs and concerns, then structure a diverse portfolio of retirement assets that will guarantee a tax efficient source of income throughout your retirement.
Employers seeking assistance in selecting the right retirement plan provider can trust DZH Phillips to conduct a thorough and impartial evaluation. Our process begins with a needs assessment to identify your organization’s requirements and expectations. We then open a search for suitable plan providers; work with you to identify finalists; arrange for vendor presentations; and provide you with a comprehensive analysis of each finalist’s strengths and weaknesses. After you’ve selected your provider, we’ll remain at your side to ensure a smooth transition and conduct the periodic monitoring needed to guarantee ongoing satisfaction with your vendor.
Projecting how much money you’ll need for retirement is not simple. Whether you’re struggling with where to begin, or if you’re looking for affirmation that your strategy will produce the results you’re counting on, the professionals at DZH Phillips can help take some of the guesswork out of retirement planning. Using your retirement goals as a starting point, we’ll examine a number of other factors, including:
- Your current income and what percentage of it you anticipate needing to sustain your lifestyle in retirement
- Projected retirement expenses for food, clothing, housing, utilities, transportation, recreation, insurance, taxes, health care, and long-term care, with adjustments for inflation and a conservative contingency for variables
- Anticipated age at retirement and the potential advantages of early or delayed retirement
- Life expectancy based on actuarial figures and personal health and family history
- Sources of retirement income