Want to Know Your Retirement Number?
If You Are Retired Or Close To Retiring, Watch This Now
Are you a recent retiree or planning to retire within the next 5 years? Obstacles like inflation, market volatility, and taxes make it harder than ever to feel confident in your retirement strategy. Decisions like when to retire, when to claim Social Security, and how to create a work-free life will define your retirement.
The short questionnaire below helps us understand your situation so we can see whether a 1-on-1 Retirement Success Session makes sense for you.
Retirement Success Survey
- Get clarity on whether your retirement income and savings are on track
- Highlight key decisions around Social Security, taxes, and withdrawals
- See if a deeper planning engagement could meaningfully improve your outcome
Retirement isn't just about having a big enough portfolio — it's about having a plan that actually works once the paychecks stop. This checklist is designed to help you evaluate your readiness across the three areas that matter most: your income, your investments, and your taxes.
Each pillar highlights the key decisions, strategies, and blind spots that can make or break a successful retirement. As you read through the checklist, don't worry about having every box checked right now. The goal is to help you see where you're solid and where you may still need clarity or adjustments.
Most people never take the time to assess their retirement this way — but you are. That alone puts you ahead of the curve.
Let's walk through the three pillars that form the foundation of a confident, durable, and stress-free retirement.
Pillar #1
A Holistic Income Strategy
- I know how much I will need to cover my expenses each month in retirement (~80% of your current monthly budget is a solid estimate).
- I have estimates for how much extra I will spend each year on travel, home improvements, gifts, medical care, and other one-off expenses.
- I have a clear understanding of the guaranteed income I will receive from sources such as Social Security, pensions, annuities, veteran's benefits, etc.
- I understand that a retired couple could need $300,000+ to cover healthcare expenses after age 65, and my income plan accounts for those expenses.1
- My income strategies account for inflation (if I need $100,000 this year, I will need ~$186,000 in 20 years to have the same quality of life at 3% inflation).
- I understand all my Social Security options and how to maximize my guaranteed lifetime income.
- My spouse and I have coordinated our claiming strategies to help maximize our income.
- Our income strategy helps protect a surviving spouse from loss of income.
- I have adequate liquid cash on hand for emergencies and unexpected expenses so that I'm not forced to liquidate investments.
- A financial professional has looked over my income strategy to identify any problems or mistakes.
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Pillar #2
A Market Readiness Strategy
- I have completed a risk questionnaire and understand all the risks I'm taking with my retirement savings.
- I understand that my investing strategy will need to change in retirement so I don't run out of money later in life.
- My income strategy includes guaranteed income to help protect my lifestyle from market volatility.
- I understand "sequence-of-returns" risk and that withdrawing too much when my portfolio has lost value can have a lasting negative effect on my retirement.
- I have run multiple portfolio scenarios with different growth and inflation assumptions and am confident that my withdrawal needs are "safe."
- My income plan is flexible, and I've planned for the inevitable ups and downs of the stock market.
- A financial professional has reviewed my market plan and assumptions to identify any problems.
Why should you get a professional opinion of your market strategy?
I have access to sophisticated software that lets me "stress-test" your portfolio under different market conditions to find the weak points and suggest solutions.
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Pillar #3
A Forward-Thinking Tax Strategy
- I have reviewed my strategies in light of recent changes in tax legislation to make sure I'm using every opportunity to potentially lower my taxes now and in the future.
- I understand how Taxable, Tax-Deferred, and Tax-Free wealth buckets work, and my drawdown strategy helps maximize my after-tax income.
- I understand that Medicare and Social Security depend on the future fiscal stability of the U.S.
- I understand that the debt held by the U.S. is expected to break historical records by the 2030s (surpass 100% of GDP) and that my future tax rates are likely to increase.2
- I am staying abreast of changing tax rules and working with a financial professional to proactively plan for future taxes.
Why should you get a professional opinion of your tax strategy?
Simple: don't give Uncle Sam a dime more than you have to. Tax laws change constantly and your strategies need to keep up.
Book a FREE 1-on-1 Retirement Success Session
I can help you get clarity about your retirement plans and help you create the roadmap to a successful work-free life.
You might be thinking to yourself: this is too overwhelming to deal with right now. Before you set this checklist aside for later, I want to remind you of something: you've already made the decision to take action. The first step is the hardest, and you've already taken it. Just taking that step puts you much farther ahead than most people.
It's okay not to have all the answers to the questions presented in this checklist. What's important is identifying where you still need to take action. If you need some advice or encouragement, please call my office to schedule a chat.
Even if you feel comfortable with your current retirement plan, I'd recommend getting a professional to find out if the changes from the new retirement regulations impact your current strategy.
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Sources & Disclosures
1 https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs
2 https://thehill.com/policy/finance/541675-debt-to-break-wwii-record-by-2031
3 https://www.wsj.com/world/birthrates-global-decline-cause-ddaf8be2?mod=wknd_pos1&mod=wknd_pos1
4 https://www.project-syndicate.org/onpoint/a-global-debt-explosion
5 Trend Following: What's Not to Like? Man Group - May 2023
7 https://www.envestnetinstitute.com/article/when-diversification-fails
8 https://www.wsj.com/finance/investing/dividend-stock-etf-1f481e82
9 https://www.inquirer.com/economy/tax-cuts-jobs-president-congress-20240905.html
Disclosure:
Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Important Information
Investment advisory services are offered through Fortress Capital Advisors LLC, a fee-only, fiduciary registered investment advisor. This communication is not to be directly or indirectly interpreted as a solicitation of investment advisory services.
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