Retirement Planning

If you are like most of our clients, planning for a comfortable retirement is probably one of your primary goals. At Seneca Financial Advisors, we provide detailed analyses and forecasts of your pre- and post-retirement life to estimate your financial needs in retirement — and help you plan accordingly. Specifically, we:

  • Identify and quantify retirement resources that will be available during your retirement, including:
    • Social Security
    • Pension plan benefits
    • Supplemental pension benefits
    • Profit-sharing plans
    • Non-qualified deferred compensation
    • Individual Retirement Accounts, 401(k) plans, and similar savings plan vehicles
    • Taxable investments
    • Annuities
    • Life insurance
    • Health insurance
    • Long-term care insurance
  • Establish objectives for your standard of living by analyzing your current income and expense needs, then projecting that lifestyle to future years
  • Develop a retirement model to analyze and compare your needs versus resources available at retirement, identifying any inconsistencies and providing recommendations to address them
  • Advise you on how to maximize your retirement resources based on various investment returns and strategies for increasing after-tax income
  • Monitor your retirement model on a regular basis, applying recommendations, tracking progress, and making adjustments for changes in economic conditions, asset composition, and your personal situation and goals
  • Align your related financial planning strategies, including taxes, investments, your estate, and insurance, to make sure they correspond with your long-term retirement objectives