Services
Pacific Northwest Retirement Planners offers specialized services in the following areas:
Pre-Retirement Planning – PNWRP is uniquely experienced in all facets involved in helping our clients navigate for a successful retirement. By the use of data gathering techniques, planning models and the application of modern portfolio theories we will prepare specific plans and recommendations for your retirement planning needs and accumulation of assets.
Financial Planning – PNWRP has the experience, knowledge and tools to provide our clients the opportunity to maximize investment returns with a level of risk they are personally comfortable with.
Mid-Career Planning – Projecting future retirement income needs, disability and life insurance needs, and selecting College 529 saving plans are just a few of the valuable financial decisions PNWRP can assist our clients with.
Retirement Income Distributions – One of the most difficult and crucial issues facing many people today is the complex process that will lead to a plan that will provide them with financial security after they retire. As a result of our many years of experience working with thousands of retirement plan participants, PNWRP has the unique ability to develop a strategy with our clients that will allow them to enter their retirement years with understanding and confidence.
PNWRP will assist you in the ongoing retirement income magement process that involves three stages:
Planning
Data Collection: This stage includes collecting key information. Collection can be done by a short conversation or by completion of a short questionnaire.
Identify Assets: Determine liabilities and sources of income. It is necessary to gather financial information, including investment assets, non-investment assets, liabilities and major income sources.
Establish Goals: Spending and legacy objective are reviewed and prioritized. Generating income to cover essential expenses should receive priority over discretionary expenses which may have to be adjusted to meet retirement needs.
Review: Insurance, annuities, social security, pension plans and asset allocation.
Develop Projections: In order to minimize the potential for income shortfalls and to increase the probability of spreading assets over your lifetime various assumptions and scenarios must be tested.
What-if testing: The end result of the analysis is the probability a given plan will be successful. If the results are unacceptable, a series of tradeoffs may be considered such as delaying retirement, increasing current savings or adjusting asset allocation to name a few considerations.
Construct an action plan: The retirement income projections and analyst is just the first step. A plan to build a specific portfolio to support the recommendations must be agreed on.
Implementation
Agree on plan and initiate implementation: This requires an account(s) to be established and may include assistance with transferring existing accounts.
Establish a withdrawal strategy: Examine and compare different withdrawal strategies which may best fit your retirement lifestyle and needs.
Monitoring
Ongoing monitoring: Includes quarterly performance reporting and an annual review to assess the sustainability of the performance, withdrawal schedule and life events.
Adjustment assumptions and of goals: Adequate flexibility must be built in to the plan to enable midcourse corrections during retirement. It is essential to review and discuss adjustments in the plan and/or lifestyle that may lead to plan failure.