menu The Gleason Group

Life in Retirement

Passion, purpose, freedom.

Planning now can make a difference tomorrow. Whether retirement is on the horizon or you’re already retired, now’s the time to to develop a plan for the years ahead. There’s a increasing possibility that your retirement could last decades. If history is any guide, during that time your cost of living could more than double.

From a financial standpoint, life in retirement really only has two outcomes: One is that your money outlives you. The other is that you outlive your money. This has nothing to do with the economy or timing the markets, both of which only distract from your long term plan.

A happy retirement is about much more than money. At the Gleason Group, we’re fanatical about helping you achieve the highest possible return on every precious moment of your life. With a sound plan and professional guidance, we help bring passion and purpose to yours.

The #1 Issue

Life in retirement is just as much a problem of maintaining purchasing power as it is the protection of principal. The cost of living has gone up in just about every year of our lives. The Consumer Price Index has been compounding at around three percent for the last century. If it continues during three decades of retirement, you could see your living costs go up very nearly two and a half times.

A purely fixed-income investment strategy—focusing on preventing our principal from fluctuating—may leave you seriously exposed to the long-term erosion of your purchasing power. Put simply, a fixed-income strategy may not sustain you through a long retired life of rising living costs.

plan for the unexpected

Large, unexpected expenses can damage the best-laid retirement plans. Therefore we first want to ensure you have an adequate emergency fund. We work together with you to determine the liquidity level that makes sense for you.

Second, adequate insurance coverage helps protect you against many of these unexpected expenses. We review coverages for all your policies including:

  • Medicare
  • Long Term Care
  • Life Insurance
  • Disability
  • Excess Liability
  • Home & Auto

cash flow & goals

Once you’re retired and understand the #1 issue above as well as established an emergency fund, it’s essential to watch your cash flow and estimate your income and expenses. This helps spot potential financial trouble and make adjustments that keep your plan on track. We start with identifying all income sources. We then separate your expenses into three distinct categories: Needs Wants and Wishes.

Needs are your basic non-discretionary expenses, such as food, mortgage payments, insurance premiums, taxes, gasoline, and utilities. Wants are your discretionary or optional expenses, such as type of car, travel, hobbies, gifts, and charitable contributions. While Wishes are your bucket list and aspirational goals.

living situation

We’ll take a look at your current living situation. While many people think of medical as the largest expense in retirement, in most cases, it is actually your home.

We’ll consider it’s size and upkeep. We’ll take into account whether it will meet your your families future physical needs. Helping you determine whether it’s best to make a move—either to a smaller house or to a retirement community or stay put. Downsizing to a smaller home may allow you to free up cash and have more flexibility in retirement, but it’s a tough decision. Either way we’ll help you have conviction to make the right decision for you and your family.

Organize, share, simplify

Your plans for retirement involve more than just financial calculations. We ensure those you care about understand your plans and have access to important information. Here are a few steps we consider to help you get organized:

  • Eliminate non-essentials.
  • Evaluate trade-offs.
  • Simplify your life.
  • Organize important documents.
  • Ensure estate plan is current.
  • Update beneficiary designations.
  • Involve your family.
  • Protect passwords and data.

portfolio considerations

Strategy. Before you begin drawing income from your investment portfolio, we adjust the investment mix so it is more appropriate for your new circumstances.

Withdrawals. One of the most important recommendations we make is how much you can regularly withdraw from your accounts without exhausting them.

Coaching & Guidance. Once we have a solid plan for financing your retirement, we meet with you regularly and provide perspective during difficult times to make sure your plan and your life remains on track.

This is your moment.