SETTING YOUR COURSE IS THE SMART THING TO DO.
Let’s put our heads together to chart out your dream retirement.
Retirement is in sight… finally!
You’ve made your Florida Retirement System (FRS) benefits elections
and are simply counting down the days until you retire.
So what else is there to think about?
Start by asking yourself some important questions:
Have I planned well and made appropriate choices to pursue my financial goals?
Since you still have a little time before you retire, you should have a Capital City Investments advisor take a look at your retirement plans and offer a second opinion. Your advisor can review your FRS plan elections (pension or investment plan, lump sum or monthly payment, etc.) to determine if you’ve made smart choices for your individual situation. Plus, together you’ll review your retirement funds, long-term care, insurance and other financial tools to help make sure you are confident when you reach retirement.
How do I make my retirement funds last?
The key to making your money last is not to put your retirement funds on autopilot. Consider the approach that works for you – do you spend more early in retirement (crossing off bucket-list items) and adjust later on, or do you spend conservatively early and give yourself a raise later on? Then, let your financial advisor develop investment and drawdown strategies that can adapt to your changing objectives and circumstances, such as health, age, spending goals, account balances, portfolio performance, etc.
Why should a Capital City Investments advisor help manage my retirement funds?
With multiple income streams, investment strategies, benefit providers, expense categories and so on, managing your finances in retirement can be a daunting task. That’s where an advisor can be invaluable to making sure your money continues to work for you throughout retirement. Your advisor can help you:
- Understand your full financial picture now and how to plan for the future
- Determine how to utilize FRS funds once you retire (as income, for debt reduction, etc.)
- Decide if you should go back to work after a year of retirement from the State of Florida
- Manage services like Social Security, health insurance (if you retire before 65), Medicare, etc.
- Create a financial strategy that is flexible enough to change with you throughout retirement
- Adjust your lifestyle to fit your new budget (travel, hobbies, etc.)
- Navigate unexpected life events
How can I provide for my loved ones when I’m gone?
The steps you take now to work toward maximizing and protecting the benefits and savings accumulated over your career could support your loved ones when you are gone. More than simply having an inheritance to pass on, it’s critical to designate beneficiaries for each of your retirement or pension accounts, ensure your loved ones know what assets you have and arrange adequate life insurance to cover any outstanding debts or expenses. Your advisor understands your individual financial situation and can be of great assistance to your survivors.