Retirement planning is a vital aspect of financial wellness that transcends age, income level, or career stage. Whether you’re just starting your professional journey or are nearing retirement age, taking proactive steps to plan for your future can provide confidence and a comfortable retirement.
At Mercer Advisors, we have worked with thousands of clients to design retirement plans that help them achieve their financial goals. Let us create a plan that helps give you the confidence that you deserve
Preparing for Retirement: What’s In Your Control?
People often feel overwhelmed when they think about retirement. A practical way to combat this feeling is to focus on the aspects within your control.
You have complete control over how much you save, spend, and the way you allocate and locate your assets. These decisions are foundational for building financial stability and maximizing your resources.
You also have partial control over factors like employment earnings, how long you choose to work, and efforts to influence longevity through health-conscious decisions. While these elements require some adaptability, they can significantly impact your financial outlook in retirement.
However, certain factors—such as market returns, tax policy, and government regulations on savings and benefits—are beyond your control. By prioritizing controllable elements and staying proactive, you can build a resilient retirement plan that adapts to changes and helps protect your financial future. Focus on what you can control for confidence in retirement planning.
How Mercer Advisors Can Help You Plan for Retirement
Working with a financial advisor to put together your retirement plan is within your control, and can help reduce the stress of preparing your finances for retirement.
At Mercer Advisors, our process begins by reviewing your personal balance sheet to assess your financial standing. We’ll explore investment vehicles, such as IRAs and 401(k)s, and clarify tax treatments (Traditional vs. Roth) to ensure your money is optimally invested for your goals.
Retirement planning isn’t static—it requires ongoing adjustments. We’ll work together to create and refine a savings strategy while reviewing key controllable factors like how much you save, spend, invest, and work. Annual reviews ensure your plan evolves with life changes, keeping you on track.
Specialized Retirement Planning Services
- Identifying opportunities for maximizing retirement account contributions
- Recommending tax-efficient investment strategies for different account types
- Guiding Roth IRA conversions for long-term tax benefits
- Optimizing savings plans tailored to financial goals and timelines
- Analyzing and reducing unnecessary spending for better budgeting
- Creating automated savings systems to help ensure consistent growth
- Structuring asset allocation for growth and risk management
- Providing strategies for minimizing tax liabilities on investments
What You Can Expect from Our Retirement Planning Advisors
Retirement is more than an end—it’s a new beginning. Our advisors create personalized retirement strategies. These strategies can help offer clarity and support financial freedom.
Clarity that brings confidence.
One of the biggest questions in retirement planning is, “Will I be okay?” We provide in-depth cash flow analysis, income modeling, and personalized planning to help answer that with confidence. With a clear picture of your finances, you can focus on enjoying what’s next—not worrying about the unknown.
Strategic decisions with lasting impact.
From when to take Social Security to how to draw down your investments, every choice in retirement can affect your future. Our advisors help you avoid short-sighted moves and guide you toward decisions that support sustainable, long-term financial health.
A retirement plan that fits your lifestyle.
Whether your next chapter includes travel, family, or philanthropy, your retirement plan should support the life you want to live. We help you create a strategy that aligns your resources with your personal goals, values, and vision of financial independence.
Additional Retirement Solutions
At Mercer Advisors, we understand that retirement isn’t a one-time event—it’s a dynamic transition that continues to evolve. Whether you’re building your plan, navigating daily life in retirement, or exploring a move that better fits your lifestyle, our team offers specialized strategies to help you stay financially secure and in control at every stage.
Your Pre-Retirement Checklist:
Steps to Take to Pursue Financial Security
FAQs About Retirement Planning
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In your 30s and 40s, it’s natural to prioritize career growth and family responsibilities, focusing on building assets and managing daily expenses. Retirement planning during these years may simply involve contributing to an employer-sponsored 401(k).
By age 50, it’s crucial to start implementing strategies to ensure a secure financial future. See the Pre-Retirement Checklist below, or assess your retirement readiness with our quiz.
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As individuals between ages 55 and 62 approach retirement, the financial landscape grows increasingly complex and uncertain. The stakes seem higher when you start to think about going from making a regular paycheck to living off your savings. We’d boil it down to three key challenges—and they aren’t all financial!
- Financial Security: Ensuring savings last throughout retirement requires careful cash flow planning, sustainable withdrawal strategies, and proactive tax management. Market volatility and inflation add complexity to preserving assets.
- Healthcare Costs: Rising medical expenses, Medicare coverage gaps, and long-term care needs can strain finances. Anticipating these costs is vital.
- Lifestyle Adjustments: Transitioning to retirement impacts daily routines, social interactions, and identity. Defining a fulfilling lifestyle, managing family responsibilities, and adapting to new goals can be emotionally and mentally challenging.
Working with a retirement advisor can help address these obstacles.
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Key approaches to maximize retirement savings include making catch-up contributions to 401(k) or IRA accounts for those aged 50 and older, automating and gradually increasing savings contributions to leverage compound growth, and adjusting investment portfolios for balanced risk and growth.
Cutting discretionary expenses, allocating windfalls, and delaying Social Security to maximize benefits are also effective ways to help boost savings.
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Healthcare expenses can substantially affect retirement finances. Although Medicare offers vital coverage, it falls short of covering all costs. Expenses like premiums, deductibles, co-payments, and prescription drugs can accumulate quickly.
Watch our webinar to learn more about Medicare and supplemental plans, costs, and how to obtain coverage. Otherwise, consider the following:
- Estimate Costs: Understand potential healthcare expenses, including Medicare premiums, deductibles, and out-of-pocket costs for treatments, prescription drugs, and vision or dental care. Build these estimates into your retirement budget and consider inflation, as healthcare costs tend to rise over time.
- Use Health Savings Accounts (HSAs): If eligible, maximize contributions to an HSA before retiring. These accounts offer tax advantages and can be used to pay for qualified medical expenses in retirement, providing a financial cushion for unexpected healthcare needs.
- Plan for Long-Term Care: Evaluate the potential need for long-term care services, such as home health care or assisted living. Explore options like long-term care insurance or life insurance with long-term care riders to help protect your savings. Consider applying early for better coverage rates.
