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Retirement Planning

Professional Retirement Planning with Bighorn Wealth Management

Professional Retirement Planning with Bighorn Wealth Management

The best investment anyone can make is an investment in their future. By planning for retirement, you can minimize the risk of uncertainty and boost your chances of enjoying a more financially independent and comfortable post-work life.

However, forming a retirement plan isn't a task that you should take on by yourself. A professional retirement planner can help provide valuable guidance throughout the entire process. As a result, you'll be empowered to take control of your future and work toward the life you deserve.

Here's what you need to know about retirement planning and how it can enrich various aspects of your life.

What Are the Benefits of Retirement Planning?

Planning for retirement can open up a world of opportunities. Some of the most notable benefits of retirement plans include:

  • Reduced stress: Failing to prepare ahead of time can be a major source of stress and anxiety. Fortunately, by forming a plan for the future, you can keep stress and uncertainty at bay.
  • Better decision making: There are many important decisions you have to make as you approach retirement age, such as whether you should switch jobs or if you can afford a second home. By using your retirement plan as a road map, you can make these decisions with more confidence and meaning.
  • Lower taxes: Saving big on taxes is another major advantage of preparing early for retirement. By working with an knowledgeable retirement advisor, you can develop a reliable tax strategy that allows you to minimize your share of taxes.
  • Happier marriage: Many marital problems stem from financial stress. You have the freedom to enjoy a more fulfilling marriage when you have a solid retirement plan. Once you and your spouse are in agreement about your financial future, you'll also avoid unneeded conflict.

These are just a few of the many positive effects of taking a proactive approach toward retirement. Working with a retirement financial advisor from Bighorn Wealth Management can further boost your chances of financial success as you grow older

When Should You Start Planning for Retirement?

When Should You Start Planning for Retirement?

One of the most common questions people have is when they should begin saving for retirement. Generally speaking, the earlier you begin preparing, the better. Most financial experts recommend creating a plan for retirement in your twenties.

This gives you plenty of cushion in case any unexpected obstacles arise that set you back in your retirement planning goals. In addition, when you start saving in your twenties, your money has ample time to grow. This can generate significant gains each year that add up in the long run.

The thought of preparing for a time that seems so far down the road may be overwhelming. Fortunately, consulting a retirement planning professional can help to simplify the process significantly. No matter where you are in your journey toward retirement, our professionals can work with you to design a plan that fits your specific needs and goals.

Retirement Income Planning

Retirement income planning involves strategically managing financial resources to ensure a steady and sustainable income during retirement. This comprehensive approach considers factors such as savings, investments, Social Security, and other income streams, with the ultimate goal of providing individuals with a comfortable and financially secure post-career life. Some of the tools we use in this kind of planning include:

Annuities Strategies (Fixed, Variable, Indexed)

Annuities play a crucial role in retirement income planning, providing a steady stream of income. Fixed, variable, and indexed annuities are distinct financial instruments, each offering unique features for retirement income planning.

  • Fixed annuities provide a guaranteed interest rate over a specified period, offering stability and predictable income. 
  • Variable annuities allow individuals to invest in a range of funds, providing the potential for higher returns but with market-related risks. 
  • Indexed annuities link returns to a specific market index, offering a balance between fixed and variable options. 

Strategically integrating these annuities into a retirement plan involves considering factors such as risk tolerance, time horizon, and income goals. Fixed annuities can provide a reliable foundation, while variable and indexed annuities offer opportunities for growth. Tailoring the mix of these annuities allows us to help individuals create a diversified and resilient retirement income strategy that aligns with their unique financial objectives and preferences.

Fixed and Variable annuities are suitable for long-term investing, such as retirement investing.  Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply.  Variable annuities are subject to market risk and may lose value.

Life Insurance

Life insurance isn't just for protection; it can be a valuable component of your retirement income strategy. It can be leveraged to secure your financial future and leave a lasting legacy for your loved ones.

Social Security Timing

Understanding when to claim Social Security benefits is a key element of optimizing your retirement income. Discover how making the right Social Security timing choices can maximize your benefits over the long term.

401(k) Rollover

Navigate the complexities of 401(k) rollovers with our professional guidance. Learn the benefits of consolidating retirement accounts and explore strategies to make the most of your 401(k) rollover for a seamless transition into retirement.

Tax Optimization

Taxes can significantly impact your retirement income. Uncover tax optimization strategies tailored to your unique financial situation, ensuring you keep more of your hard-earned money in retirement.

Roth IRA Strategies

Explore the advantages of Roth IRAs in your retirement plan. From tax-free withdrawals to potential growth, discover how Roth IRA strategies can enhance your retirement income and provide flexibility in managing your tax liabilities.

IRA Withdrawal Strategies

Master the art of IRA withdrawals to maintain a sustainable income throughout your retirement years. Learn about withdrawal strategies that balance your financial needs with tax efficiency, helping you make the most of your retirement savings.

Safegaurd Your Retirement with Bighorn Wealth Management

Safegaurd Your Retirement with Bighorn Wealth Management

At Bighorn Wealth Management, we understand the importance of a well-crafted retirement plan. Our team of experienced Colorado financial advisors is committed to guiding you through the intricacies of retirement planning, ensuring that your golden years are characterized by financial security and confidence. 

If you’ve searched for a “Denver financial advisor,” or a “Financial Advisor for Retirement,” you have come to the right place! Take the first step towards a worry-free retirement—contact us today for a personalized consultation tailored to your unique financial needs.

Invest in your future with Bighorn Wealth Management—Your Valued Partner for your Retirement Journey.