Planning Perspectives is your guide to navigating the complexities of wealth management with ease. This week we discuss maximizing retirement income and tax-optimized distributions.
Saving for retirement is something many of us are encouraged to participate in throughout our working lives. In a recent Bryn Mawr Trust survey about women and retirement, 826 women (age 40+) said that their top sources of wealth are careers, followed by saving and budgeting, with 40% selecting retirement as the leading life event that impacts their financial planning.1 The rules and guidelines for how much to save and where are readily available, but there needs to be more professional guidance for when we finally reach retirement and begin spending it.
Benjamin Franklin was famous for many things, including the quote about only two certainties in life: “death and taxes.” A strong retirement plan should optimize for tax savings as it reviews assets and income streams.
Securing a comfortable retirement requires thoughtful planning and strategic financial decisions. To ensure you won’t outlive your retirement savings, consider these five crucial tips.
Consider these four steps when transitioning to your new phase of life in retirement.
Prior to retirement, our investment portfolios, and all the assets in it, generally all have one purpose: to grow. As we enter retirement, we have to adjust to spending our assets to support our lifestyle.
Having a sound financial plan for retirement is paramount, but additional preparation for this important milestone in your life is also wise. Emotional, social, and income source considerations are just as crucial as your financial plans.
The landscape of employee retirement planning is undergoing transformative changes. The Employee Retirement Income Security Act (ERISA) is at the heart of this evolution, introducing pivotal themes that promise to redefine the retirement planning horizon for millions of workers. Let’s explore some key themes for 2024, each designed to enhance the retirement readiness and financial security of the average employee in an ever-changing world.
With proper planning, retirement doesn’t have to be a psychological roller coaster ride.
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Wilmington Savings Fund Society, FSB d/b/a/ Bryn Mawr Trust.Bryn Mawr Trust is a division of WSFS Bank.WSFS Wealth Management, LLC d/b/a Powdermill Financial Solutions, LLC. Powdermill Financial Solutions, LLC is a subsidiary of WSFS Financial Corporation.Bryn Mawr Trust Company of Delaware is a subsidiary of WSFS Financial Corporation.Products and services are provided through WSFS Financial Corporation’s subsidiaries and their affiliates.Trust and investment advisory services are offered through Bryn Mawr Trust. Bryn Mawr Trust is not a registered investment advisor.Investment advisory services are also offered through Bryn Mawr Capital Management, LLC (“BMCM”), an SEC registered investment advisor and a subsidiary of WSFS Financial Corporation. BMCM’s Registration as an investment advisor does not imply a certain level of skill or training.
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