Retirement Planning
Are You Ready for Retirement?
Retirement planning isn't just about determining whether you have "enough money."
It's about understanding how your different financial resources work together — and how today's decisions may affect your financial future.
You may be asking:
- Can I afford to retire when I want to?
- How much income will I need in retirement?
- What should I do with my 401(k) when I retire or change jobs?
- Should I keep my retirement savings where they are or consider other options?
- When should I begin taking Social Security?
- How should I invest my retirement portfolio?
- How much can I reasonably withdraw from my investments?
- How can I plan for taxes during retirement?
- What happens to my spouse or family if something happens to me?
These decisions are interconnected. Our role is to help you understand the choices and develop a strategy around your individual circumstances and goals.
Retirement Planning That Starts With You
At Parker Prescott Capital Management, we don't believe retirement planning should begin with a generic checklist.
It starts with understanding you.
Your current financial situation, your goals, your timeline, your income needs and the resources you've accumulated over your career all play a role in developing a retirement strategy.
Depending on your circumstances, retirement planning may include:
Retirement Income Planning
Determine how your investments, retirement accounts, Social Security and other income sources may work together to support your retirement lifestyle.
Investment Management
Develop an investment strategy designed around your goals, time horizon and individual circumstances.
401(k) & IRA Guidance
Evaluate your retirement accounts and understand the options available when changing jobs or approaching retirement.
Social Security Planning
Consider how the timing of Social Security benefits fits into your broader retirement income strategy.
Tax-Aware Planning
Understand how taxes can affect withdrawals and other retirement decisions, and coordinate with your tax professional when appropriate.
Long-Term Financial Planning
Look beyond the day you retire. A comprehensive plan should consider your spending, investments, income, family and longer-term financial objectives.
Retirement Planning for the Next Chapter
A thoughtful retirement plan can help you understand where you stand today, what decisions are ahead, and how your savings can support the life you want in retirement.
Parker Prescott Capital Management helps individuals and families in Dallas and throughout the DFW area navigate the financial decisions that come with preparing for and living in retirement.
What If You're Already Retired?
Retirement planning doesn't stop when your paycheck does.
Once you retire, the questions often change.
Instead of:
"Am I saving enough?"
you may be asking:
"How do I turn my savings into income without compromising my long-term financial goals?"
We can help you evaluate your retirement income strategy, investment portfolio and ongoing financial needs as your circumstances change.
Have an Old 401(k)?
If you've recently retired or changed employers, you may have more than one option for your old 401(k).Depending on your circumstances, you may be able to:
- Leave the assets in your former employer's plan
- Move them into a new employer's plan
- Roll them into an IRA
- Consider other strategies
There isn't one answer that is right for everyone. Factors such as investment choices, fees, taxes, flexibility and your overall financial plan may all be relevant.