Boldin Advisors covers Roth conversions, which work best timed between retirement and Social Security, and withdrawal strategy, which depends on taxes, insurance eligibility, and RMDs rather than a fixed rule. Test retirement first with a two-week dress rehearsal of volunteering and activities to see if your daily routines feel fulfilling.
One of the questions I get asked a lot is whether clients should be doing Roth conversions. Now. Roth conversions can be beneficial for a lot of people, but not for all people. It really depends on your specific circumstances. However, there are some common trends. You know, oftentimes there's a nice sweet spot between retirement and Social Security where it can make a really big difference. The only way to know for sure whether Roth conversions are right for you is is to evaluate. Fortunately, golden has a tool that can make this sense.
One of the most common questions I get is besides the numbers, what else should I be thinking about when it comes to retirement? My suggestion? Think about your retirement lifestyle. Try a dress rehearsal. If you can take off at least two weeks from work and see what retirement looks like. Beyond those once in a lifetime trips, focus on what an average day or week looks like for you. Maybe you thought about volunteering. Go and volunteer at that place. See if you really enjoy it. Or maybe you're considering picking up pickleball or taking a yoga class. Go join a league or try that class now. Think about what does things look like in reality. Were you able to fill the days and weeks with activities that bring a sense of purpose and a sense of fulfillment? This preview of retired life can make the transition from working to retired seamless.
In retirement, what accounts should you spend first? Well, it's not a one size fits all answer. It's a personal choice. It's like coffee versus tea or deciding whether pineapple belongs on a pizza. It doesn't. You need to align on your goals, understand what it is you're trying to accomplish with the financial planning process. Which will lead to more questions. Should you do a Roth conversion? Are you trying to get health insurance on the marketplace without taking a second mortgage out to pay the premium? Are you trying to get a tax subsidy? Legally, of course. Are you happy with your asset allocation or do you break out in hives every time the market sneezes? What about your requirement of distributions? Will you have a surprise tax bill like an unwanted surprise party? Do you have kids? Would you like to help them now? Or would you like to have a surprise inheritance or a surprise tax bill? Once we align on your goals, we can help you make smart decisions about asset allocation, tax planning, and how to make the most of your time and money.
The question I hear most often from clients is, am I on track? On the surface, it's about whether their financial plan works or not. But beneath that, clients are really asking if they'll be okay, if they're doing what their peers are doing if they can start looking forward to the fun parts of retirement. It's also about navigating identity, who they'll be without work as their anchor. The best thing clients can do is not shy away from that uncertainty, but explore it with guidance and a plan.
