Retirement Planning
Everyone dreams of a comfortable, secure, and meaningful retirement.
Retirement Planning
Everyone dreams of a comfortable, secure, and meaningful retirement.

Are you and your money on the same page?

Everyone dreams of a comfortable, secure, and meaningful retirement. This requires a stable income stream, less exposure to financial risks, and being prepared for the unexpected. We can help you plan for an income stream that can cover both your essential and lifestyle expenses. Your financial adviser will also help you reduce vulnerability from the unexpected, and help you leave the legacy you desire.

Our Approach

We take a systematic approach to evaluating your specific situation. It begins with a conversation, and culminates in a comprehensive solution that is intentionally designed to match your lifestyle, financial goals and objectives, and tolerance for risk. Our approach is inline with standards recognized by the Chartered Financial Planning (CFP) organization.

Retirement Savings and Income Planning
Perform retirement needs analysis
Identify and evaluate the assumptions used in analyzing retirement needs including: age at retirement, cash inflows and outflows in various stages of retirement, goal priority and importance, longevity, rate of investment return, market volatility, and effects of inflation.
Recognize the potential sources of income during retirement including social security, employer plan benefits, personal savings and investments, individual retirement plans, and employment income.
Calculate an appropriate savings plan to meet funding needs and communicate the importance of having a well-funded retirement plan.
Recommend a plan for maximizing the probability of achieving your goals and mitigating longevity risk.
Apply statistical and probability techniques in calculating retirement funding and income distribution plans.
Explain various patterns of work-to-retirement transitions and phased retirement.
Social Security and Medicare
Provide an overview of the Social Security system.
Keep you updated on proposed program reforms.
Explain how you may qualify for Social Security benefits, given your payroll taxes, marital status and available benefits structure.
Explain the computation of the averaged indexed monthly earnings (AIME), the primary insurance amount (PIA), and disability, survivors, and maximum family benefits.
Assist you in selecting the optimal date to begin receiving Social Security retirement benefits and the impact of the earnings test.
Explain the windfall elimination and the government pension offset on retirement benefits.
Describe the taxation of each type of Social Security benefits.
Provide an overview of the Medicare program, including the payroll taxes and eligibility structure.
Explain the four parts of Medicare coverage, the benefits provided by each, common out-of-pocket costs required for insured individuals, and alternative insurance options to cover the gaps associated with Medicare.
Assist you in selecting proper Medicare coverage and any supplemental coverage with careful attention to appropriate deadlines.
Explain the Medicaid program structure and funding sources.
Explain common eligibility requirements, how assets are treated in determining eligibility, and how asset transfers may be subject to a look back period.
Differentiate between mandatory benefits and optional benefits that may apply depending on the state.
Develop planning strategies, in accordance with Medicaid regulations, to maximize client benefits and available resources.
Explain estate recovery implications for Medicaid recipients.
Types of retirement plans
Distinguish between qualified, government, non-qualified, and private tax-advantaged retirement plans.
Explain the characteristics of the various types of defined benefit, defined contribution and individual retirement accounts.
Qualified plan rules and options
Explain the tax implications of qualified plans to the employer and employee.
Explain the rules of qualified retirement plans including eligibility, coverage and discrimination, funding and contribution, distribution, vesting, and termination of plans.
Explain the fiduciary responsibilities of employers with respect to the investments in their firm’s qualified plan under ERISA.
Other tax-advantaged retirement plans
Differentiate between the various types of Individual Retirement Arrangements (IRAs) including traditional, rollover, Roth, SEP and SIMPLE plans, including the tax treatment of contributions and distributions b. Recommend an appropriate IRA or other tax advantage tax-retirement plan for a client’s needs.
Regulatory considerations
Explain the plan protections provided by ERISA, the PBGC, Department of Labor policies and other applicable regulations.
Key factors affecting plan selection for businesses
Identify the factors that will affect the selection of a retirement plan for your business.
Recommend a qualified or non-qualified retirement plan given your goals and objectives.
Distribution rules and taxation
Explain the rules and penalties regarding retirement plan distributions.
Explain the circumstances under which early distributions are allowed from tax-advantaged retirement plans without penalty including the Substantially Equal Periodic Payment and Qualified Domestic Relations Orders rules.
Compare the taxation of normal distributions with Roth conversions, lump sums and net unrealized appreciation withdrawals.
Retirement income and distribution strategies.
Select suitable investments for both funding and retirement distribution purposes, considering the time horizon and risk tolerance of plan owners and beneficiaries.
Construct well-diversified, tax-efficient portfolios that minimize retirement income risk.
Explain the use of life insurance products in retirement plan portfolios.
Business succession planning
Explain why business succession planning is complex and challenging.
Identify factors a business owner should consider when creating a succession plan, including the ability and motivation of a successor and the degree of idiosyncrasy in the business.
Describe the purpose of a buy-sell agreement as a business succession planning tool.
Illustrate how a buy-sell agreement can be designed and implemented.

Galleon Financial Planning Services

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Ext — 1444

Monday – Friday 8 a.m. to 8 p.m.
Saturday 10 a.m. to 4 p.m.
Eastern time

The Galleon IRA

As Individual As You

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