Revolutionize Your Retirement Planning With These Easy Steps From Dynamic Wealth Strategies


    Retirement planning is a complex subject. But did you know that putting away finances for retirement can be considered financial wisdom? Sadly only half the Americans have calculated how much they require to save for retirement. 

    All the same, planning for retirement is challenging. Why? Because it needs you to answer challenging questions like, what will be your life expectancy? What will the inflation rate be in the future? What lifestyle do you want in your retirement?

    Dynamic Wealth Strategies cares for you. They want you to retire ‘less’ but travel and enjoy ‘more.’ Meaning they want to help you enjoy what you worked so hard for. They develop innovative, dynamic, and diverse financial plans for innovative, dynamic, and diverse people. They understand that financial security in retirement does not just happen. It takes commitment and planning and, yes, money. 

    We spoke to Rebecca Miller and Adam Tau on retirement planning, which are the ways you can plan yourself. 

    Understand Your Tax Liability

    As you approach retirement age, there are strategies you may want to implement to lower your tax liability in the future and create more tax-free income. That is huge for people, as we don’t know what tax rates will be in the future, and it’s possible they end up going higher.  

    Retirees should also review how their income will be taxed upon withdrawal. This should be reviewed each year so that they are withdrawing from the most tax-efficient place.

    Help Secure Your Retirement Funds

    This action is a significant step toward your retirement planning. You need to evaluate the income you will need during retirement, understand the risks you are willing to take, and plan for emergencies and taxes. 

    Additionally, you can start a financial forecast for your retirement, know your tolerance for fluctuations and consider how quickly or soon you want to retire.  

    Structure an Income Stream

    What amount of retirement income do you need to create?. Thoughtfully structuring an income stream will allow you to have various cash flow sources. This is the first step in figuring out retirement income. It would help if you had a breakdown of the expected budget so they can design a plan to fill any income gaps you may have. Retirees will begin to draw income from multiple places, such as employer plans (401k, 403b), a pension, social security, IRAs, brokerage accounts, or rental income on a secondary property. If these sources don’t add up to the income they desire, they need to make tweaks. 

    This may also put you in a position to be prepared if one source of income fails. 

    Know Your Retirement Needs & Maximize What You Have

    Retirement is expensive. So you need to plan. What do you want when you retire? Once you establish precise needs, then start maximizing what you have, both time and resources. Many advisors are fantastic at accumulation. They’ve done an excellent job for you building wealth. But in retirement, DWS focuses on distribution. How do they take that wealth you’ve done a great job at building and make sure you can convert it to income AND continue to have it potentially grow? How do they distribute it? Not as many advisors focus on distribution, yet that’s what they do daily.

    Get in Touch

    Dynamic Wealth Strategies helps you with fee-based wealth management, income planning, IRA and 401(k) rollovers, tax-deferred and tax-preferred strategies, and legacy planning. 

    For more information, you can connect with the links below; 

    Securities and advisory services offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC, and a registered investment advisor. Dynamic Wealth Strategies and MAS are not affiliated entities.  Our firm is not licensed to offer tax preparation.  We offer tax strategies related to investing and retirement income.  Consult your tax advisor regarding your situation. 


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