A recent report by "Bloomberg" shows 76% of Americans are afraid of running out of money in retirement. The rising cost of long-term care, economic conditions, market volatility, longer life expectancy, fewer pensions, and the need to fund your retirement has many Americans uneasy about the future. At TD Wealth, we understand your dedication and hard work is what got you where you are today. We want you to feel confident in continuing your wealth journey with us. We'll partner with you to see the big picture, set short and long-term goals for your future, and discuss a roadmap to retirement, or work with you in an effort to ensure your legacy and values are passed along to future generations because we believe the highest likelihood of success in achieving your life goals starts with a plan.
Introducing our enhanced wealth management process, where achieving your goals is the central theme and primary focus of our relationship. This process is designed to empower you and your advisers to have meaningful discussions related to investing, borrowing, earning, and spending, aligning your wealth with your life goals. Here's how it works.
First, complete the personal information. Then, on to retirement expectations and concerns. Pay close attention to the concerns as they are your roadmap to addressing what really matters to you. Aim to enter 8 to 12 goals, divided into three categories, needs, wants, and wishes.
Needs usually incorporates basic retirement needs, transportation, and the system will auto-calculate the specific cost of healthcare including Medicare parts B and D, Medigap, and out-of-pocket expenses.
The risk section uses an innovative approach to risk tolerance by examining both you and your spouse's risk tolerance individually as well as as a family. It then provides a sanity check by asking whether you would stay the course in the event they received a statement one year from today showing that level of loss.
The social security analysis function will run Monte Carlo simulations across a variety of social security strategies. Thus allowing you to choose a strategy that may make the most sense for your situation. While the play zone shows all of the variables you can control, what are you afraid of reflects those variables outside of your control. You can see the potential impact of a great recession loss, inflation, cuts to Social Security, lower returns than expected, the potential effects of dying early or living longer than anticipated, unexpected health care costs, and even a cut to your pension.
For online access, simply log in to the snapshot page, a one-of-a-kind financial planning portal that gives you the current status of the plan that allows you to see how lifestyle choices such as opening a business or retiring early might impact your financial goals.
Partner with TD Wealth to create a personal plan of action unique to you and only you.
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