Puplava Financial Services, Inc., offers retirement income consulting services to help those in retirement—or those looking ahead to retirement—develop and implement possible strategies for pursuing their retirement income needs.
Wealth Management Services
People often ask: How much should I save for retirement? When can I retire? Can I keep up my standard of living in retirement?
Rethinking Retirement Income
In the past, retirement income needs drew on three main sources for funding: defined benefit or pension plans, Social Security, and savings. Today, fewer retirees can count on pensions (government or corporate) as a reliable source of retirement income, and uncertainty surrounds the long-term future of Social Security. As a result, retirees will likely need to rely more on their personal savings and investments to help pay for retirement.
However, when it comes to personal savings and investments, we are in a low-interest rate environment, and indications from the Federal Reserve and the realities of the U.S.'s fiscal and economic situation mean that we are likely to remain in a low-interest rate environment for some time to come.
With these realities as a backdrop, retirees—and those looking ahead to retirement—may feel as though "traditional" retirement strategies may not be as effective as they have been in the past. We share these concerns, and have identified several different types of investment instruments that may be better suited to the realities today's—and tomorrow's—retirees may face.
Pursuing the Basic Needs
We understand that for most people, one of their biggest fears about retirement is outliving their resources. When we consult with clients about their retirement income needs, we focus first on strategies that seek to provide resources that will pay for the basics of living—food, shelter, transportation, medical care—last until end of life.
The basic costs of living rarely fail to increase over time, so once overall basic needs in today's dollars are met, we focus on strategies that seek to help address income needs in tomorrow's dollars.
Working in the "Wants" and "Wishes"
We review basic costs of living and increases to those costs of living; we then focus on strategies to help clients set aside funding intended to help them manage specific, targeted activities or goals they have in mind for their retirement years.
Leaving a Legacy
For some, retirement planning extends beyond their own lifetimes to those of their loved ones, or encompasses a desire to assist, fund, or found organizations or entities. We also counsel our clients about strategies that may best help them pursue the legacy they intend.
Fees & Costs
Charges for our retirement income consulting services vary widely depending on the time remaining until retirement, possible number of years the income will need to last during retirement, what resources are/will be available to the client in retirement, the non-financial goals the client wishes to achieve in retirement, and complexity of legacy considerations.
To request a quote for a consultation about your retirement income needs, please complete our Request Information inquiry form or call us directly at (888) 486-3939 or (858) 487-3939.