Frequently Asked Questions
When should I start planning for retirement?
Ideally, you should start your retirement planning at least 5–10 years before you plan to retire. This gives you time to fine-tune your savings strategy, optimize tax planning, and make informed decisions about Social Security, healthcare, and your estate plan. Waiting until the last year or two before retirement can limit your options and increase stress.
How can a financial planner help me prepare for retirement?
A financial planner can help you:
- Identify how much income you’ll need in retirement.
- Build a strategy for investments, taxes, and withdrawals.
- Review insurance needs to protect your assets.
- Coordinate estate planning and legal documents.
- Guide conversations with your adult children (or a trusted person or family member in your life) so everyone understands the plan.
Why should I involve my adult children in my estate planning?
When adult children understand your wishes and know where to find important documents, it removes uncertainty during difficult times. Involving them early can prevent family conflicts, ensure decisions are made according to your wishes, and give everyone peace of mind knowing there’s a clear plan in place.
How do I talk to my family about my will and estate plan without it feeling awkward?
A structured family meeting is one of the best ways to have this conversation. We help clients prepare an agenda, decide what details to share, and keep the discussion focused on values, goals, and next steps. The goal isn’t to share every number—it’s to make sure your loved ones know your wishes and where important documents are located. Here's more informaiton on how to talk to your adult children about your estate plan.
This can be also done with a trusted person in your life if there are no children or other family members.
What documents should I have ready before I retire?
Some of the key documents include:
- Will and/or trust
- Powers of attorney for health and finances
- Beneficiary designations
- Life insurance policies
- Retirement account statements
- Tax returns from recent years
- A list of account logins and important contacts
We provide clients with a complimentary planning binder to organize and store these in one place.
What’s the difference between tax planning and tax preparation?
Tax preparation is about filing your taxes accurately for the year that’s already passed. Tax planning is proactive—it’s about making strategic moves throughout the year to reduce your future tax burden, especially in retirement when your income sources change.
How do I know if I’m financially ready to retire?
We run a full retirement readiness analysis to see if your current savings, investments, and income streams can support your desired lifestyle. We also consider healthcare costs, inflation, and the possibility of retiring earlier or later than expected. Here are 7 questions to ask yourself to know if you're ready to retire.
What if I want to retire earlier than planned?
If you’ve been planning ahead, an earlier retirement is often possible. We’ve helped clients move their retirement date forward because they had a clear plan and confidence in the numbers. It’s all about preparation and understanding your options. Read this blog for a real-life client story.
How much does it cost to work with A Financial Planner?
We offer a flat monthly fee for ongoing financial planning, which includes retirement readiness, tax planning, and estate coordination. This allows us to be there for you year-round—not just once a year.
How do I get started working with a Financial Planner?
It begins with a conversation. We’ll review where you are now, discuss your goals, and outline next steps. Whether you’re five years or fifteen years from retirement, the sooner you start, the more control you’ll have over your future.