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Congratulations on Your Retirement! Baron has the expertise for working with people in retirement and we can help you focus on your new concerns

Historically the financial services industry has been primarily focused on accumulation

  • Funding children’s education costs
  • Paying off a mortgage
  • Buying a second home
  • Starting a business
  • A lifetime of opportunities ahead

And for retirees there are other concerns:

  • Turning wealth into income – creating a total return strategy that produces a continuous paycheck just like you had when you were employed
  • Revising your investment strategy – which was successful for the accumulation phase but may not work as well now during the distribution phase
  • Protecting against new risks –  such as longevity risk (outliving your wealth), loss of a job, a long retirement horizon, maintaining your health, covering cost of living, keeping up with price inflation, protecting against principal loss
  • Determining when and how to take your Social Security Benefits – the decision of when to take social security can be very personalized. There are various considerations and strategies that you should incorporate in your decision. This type of decision should be personalized to your specific situation and there is no patent right or wrong answer. We help you make the right decision for you and your family by providing our expertise and knowledge of how the system works and the strategies that you can use. We help answer the following questions:
    • Will Social Security be there for me?
    • How much can I expect to receive?
    • When should I apply for Social Security?
    • How can I maximize my benefits?
    • Will Social Security be enough to live on in retirement?
  • Consolidating qualified funds such as 401(k) plans and IRA’s to optimize your benefits  – the decision to roll-over or take your 401(k) must be carefully considered. IRAs are tax-favored savings and investment plans designed to accumulate assets for retirement.
    • The IRA is not a particular investment; it is a registration which provides federal income tax benefits for retirement investments (such as money markets, mutual funds, stocks, etc.) within the account.
    • Understanding when to use a traditional IRA, a Roth IRA or a Stretch IRA can have ramifications to your own retirement and also to your family.
    • IRAs provide flexibility since you have virtually unlimited investment choices.
  • Required Minimum Distribution Advice (RMDs)
    • You must begin taking required minimum distributions by April 1st of the year following the year in which you reach age 70 ½.
    • If you withdraw less than the required amount, you will incur a penalty tax of 50% of the difference between the amount you withdraw and the amount of your required distribution.
  • Funding long-term care and medical care costs
    • Evaluating what is right for you
    • Understanding the pros and cons of Long Term Care Insurance and other Health Care Plans, such as Medicare and HSA Policies
  • Selling a primary residence or buying a retirement home: financing options
  • Selling a business
    • What is the exit plan?
    • Improving your valuation
    • Providing for a smooth transition
  • Passing wealth on to children and grandchildren:  evaluating simple or more sophisticated techniques

Learn more about our services: