Retirement planning involves evaluating your current financial standing and creating an accumulation strategy that will help to ensure a desired retirement lifestyle. Because your retirement years can span decades, it is important to build a strong plan. A successful plan put into place during your wealth-building phase of life should address ways to maximize growth and tax-efficient distributions, as well as how to leave retirement assets to the next generation.
At the heart of any retirement plan is the distribution of accumulated assets. The correct distribution method will help to ensure that your retirement savings last beyond your lifetime with minimum shrinkage from taxes. From premature distribution options that allow access to retirement assets prior to age 59½, to products intended to provide stable monthly payments for retirement, distribution planning is paramount to a successful retirement plan.
There are several ways to save for retirement: