What Is Retirement Planning?
Retirement planning is the process of determining your retirement income goals and the actions and decisions necessary to achieve those goals. It involves identifying sources of income, estimating expenses, implementing a savings program, and managing assets and risk.
At Hyde Legacy Group, we take a comprehensive approach that goes far beyond simply picking investments. We build a roadmap tailored to your unique situation, goals, and timeline.
Our Retirement Planning Services
401(k) and Employer Plan Optimization
We analyze your employer-sponsored retirement plans to ensure you're maximizing contributions, employer matches, and selecting the right investment options within your plan.
IRA Strategy and Roth Conversions
Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, each has different tax implications. We help you determine which accounts to fund, when to convert, and how to minimize your lifetime tax burden.
Social Security Maximization
When you claim Social Security can mean a difference of hundreds of thousands of dollars over your lifetime. We analyze your optimal claiming strategy based on your health, family situation, and other income sources.
Retirement Income Distribution Planning
Knowing how to withdraw from your various accounts in the most tax-efficient order is critical. We create a withdrawal strategy that minimizes taxes and maximizes the longevity of your portfolio.
Common Retirement Planning Questions
| Question | Key Considerations |
|---|---|
| How much do I need to retire? | Depends on your desired lifestyle, healthcare needs, inflation, and longevity. A common rule of thumb is 25x your annual expenses, but your number is unique. |
| When should I start planning? | As early as possible. Starting at 25 vs. 35 can mean the difference of $500K+ at retirement due to compound growth. |
| Should I do a Roth conversion? | Typically beneficial when you're in a lower tax bracket than you expect to be in retirement. We run projections to find optimal conversion windows. |
| When should I claim Social Security? | Delaying from 62 to 70 increases your benefit by approximately 77%. But the right answer depends on your health, spouse, and other income. |
| How do I plan for healthcare costs? | Medicare starts at 65, but doesn't cover everything. We plan for supplemental coverage, long-term care, and the Medicare coverage gap. |
| What about inflation? | At 3% inflation, costs double every 24 years. Your plan must account for rising expenses throughout a 30+ year retirement. |
Why Work With Hyde Legacy Group?
As a fiduciary advisor, Jordan Hyde is legally obligated to act in your best interest. Our retirement planning goes beyond generic advice, we build a personalized, numbers-driven plan that adapts as your life changes.