Retirement Planning | Retirement Income Strategies

Live your retirement to the fullest, your way.

When it comes to planning for your retirement, you want the best of the best. At Bridgewright, we offer proprietary tools that go beyond the common retirement planning software used by many of our competitors. The transition from saving money to creating income can be a challenging and stressful time for most people. We will help you make sure that your plan is sustainable and efficient.

We will review your annual expenses and determine when will be the best time for you to retire comfortably. Additionally, we will help you decide when to begin collecting social security and pension money as we build an income plan to be used during your retirement. Of course, as we create your retirement plan, we will fully consider any of your retirement investments that we don’t hold as well.

It’s About More Than the Day You Retire
There’s a lot that happens leading up to your first day of retirement. Below, we’ve clearly identified the three phases of retirement planning that we will help you through.

Preparing for Retirement
This stage is all about accumulating assets and starting to imagine what you’d like retirement to look like for you. How much money will you have to put away to get there? We’re prepared to help you develop a strategy that maximizes both plans offered by your employer and accounts held with us.

Nearing Retirement
About five years before you'd like to retire, we will start evaluating your current risk and liabilities. You may discover that you need to start scaling that back as you think about where your income will come from during retirement. We can help by evaluating your potential monthly and annual expenses with you.

Retirement
This final phase focuses on the distribution of the money you’ve saved in preparation for retirement. We will help you decide where to take money from and how to do so to receive the income you need.

Our Retirement Planning Services Include:

- Retirement Outlook & Timing Analysis
- Retirement Plan Contributions
- Retirement Income Strategies
- Social Security Claiming Strategies
- Medicare Analysis
- Stress Testing
- RMD Planning & Execution

Retirement Planning FAQ's

When Should I Start Planning for Retirement?

The best time to start planning for retirement is now, regardless of your age or stage of life. Early planning gives you more time to build savings, refine your goals, and make strategic decisions about investments, taxes, healthcare, and income. Whether retirement is decades away or just around the corner, having a clear plan can help you approach the future with greater confidence and clarity.

How Do I Calculate My Retirement Income Needs?

Retirement income needs are unique to every individual and family. Factors such as your desired lifestyle, healthcare expenses, travel plans, inflation, taxes, and potential legacy goals all play a role in determining how much income you'll need. A comprehensive retirement plan evaluates your current assets, projected expenses, Social Security benefits, and other income sources to create a sustainable strategy designed to support your long-term financial goals.

What Financial Documents Should I Update Before Retiring?

Before retirement, it's important to review and update key financial and legal documents to ensure they reflect your current wishes and circumstances. This may include your will, trust documents, powers of attorney, healthcare directives, beneficiary designations, insurance policies, and retirement account information. Keeping these documents current can help protect your family, preserve your legacy, and ensure your financial affairs are organized as you transition into retirement.

What's the First Step to Building a Retirement Plan?

The first step is defining what retirement looks like for you. This includes identifying your goals, desired retirement age, income needs, lifestyle expectations, and priorities for family and legacy planning. Once those objectives are clear, a financial advisor can help evaluate your current financial position and develop a personalized strategy that aligns your resources with your long-term vision.

What If I Don't Have Enough Saved?

If you're concerned about your retirement savings, you're not alone. The good news is that there are often multiple strategies available to help strengthen your financial position. These may include increasing savings contributions, adjusting retirement timelines, optimizing investment allocations, reducing debt, evaluating spending habits, or creating more tax-efficient withdrawal strategies. Working with a financial advisor can help identify opportunities and build a realistic plan designed to maximize the resources you have and support your retirement goals.