Retirement Planning
Retirement should be one of the most fulfilling lifelong achievements you experience. But, it can be hard to retire with peace of mind with so many important unanswered questions. From typical questions like, “When should I retire and how much money do I need?” To the more complex and unique like, “How do I adequately save for my own retirement, and still provide for the lifelong support of my loved one experiencing disability?”
Parents of a person experiencing disability will balance planning for their own retirement, and establishing support for the future needs of their child. Support that not only meets their needs, but provides the highest quality of life possible. Our team of special needs planners create a roadmap for families, to help the parents strive for their ideal income in retirement, while still providing for the future care of their child experiencing disability.
What does retirement planning include?
A retirement plan incorporates financial, estate, and tax planning strategies to help ensure it aligns with the special needs financial plan. A SNFP can be established to span across two generations, to help provide support for a lifetime of needs for a person experiencing disability.
Retirement Planning For Everyone: Special needs families are shouldered with needing to plan for 3 retirements. Mom, Dad and their child experiencing disability. We discuss Social Security, cash flow planning and investment planning with those facts as the focal point.
Estate Planning: Ensuring that any inheritance received when a family members passes away does not jeopardize government benefits eligibility.
Trust Funding: Leaving funds to a special needs trust when parents pass away. Where should this money come from? Is a first or third party special needs trust the right fit?
Who needs retirement planning?
Almost every individual should seek retirement planning advice from a qualified professional who can help them establish a sound plan, make adjustments along the way to stay on track, and help safeguard what they’ve worked so hard to earn.
This is especially true for families of a loved one experiencing disability. A strong retirement plan should incorporate an equally strong special needs financial plan.