How your Wealth Advisor can help you create a plan that reflects your unique goals.
By Alex J. Gonazalez
Area Wealth Executive for Central Florida.
Everyone has a different idea of how to spend retirement — and those plans often evolve over time. At Regions Private Wealth Management, some of our clients plan to travel the world, while others hope to launch a new career or business or pick up activities that were put on hold during their working years. Because everyone approaches retirement differently, we each need our own personalized road map for the future.
For example, we see 70-year-olds who are young at heart, in good health and active in their communities. These clients may be thinking about how to maximize the current low-interest-rate environment or tap their retirement accounts and income resources tax-efficiently. We also see 35-year-old parents who want to save for retirement while still putting away money for their children’s education and maintaining certain lifestyle goals.
Custom-fit tools
With every client, we begin the retirement-planning process with the Regions Wealth Assessment®, a comprehensive tool for articulating goals and cataloging current financial resources and assets. We also provide a range of other tools and services that can address a broad range of needs, including business-succession planning, estate planning, tax planning, insurance and retirement-income planning. The Regions Wealth Planning group can custom design a financial plan built around your specific goals and financial situation.
Conversations we have with clients about retirement often encompass both financial and personal considerations. For people who are used to going to an office every day, planning how to spend your time in retirement can be equally as important as generating income in retirement. For people who have relied on a spouse or other family member to handle family finances in the past, creating a support team of people who are on call to answer financial questions in retirement may be just as important as, say, reviewing insurance coverage.
Personalizing your plan
Each generation redefines retirement according to its values and goals. The baby boomers, for instance, will approach retirement differently than their parents’ generation and differently from the millennials and Generation X. Across all generations, however, we do notice some common themes: People want to be healthy and active as long as possible, and they want to live life with a sharp mind and a higher purpose. We all want to feel the peace of mind that comes with lifelong financial security.
However you define retirement, your Regions Wealth Advisor can help you create a personalized retirement plan for meeting your financial and lifestyle goals. Your advisor can build a team of specialists from across Regions to help you cover all your bases. We’ll work with you one-on-one to make sure that your plan aligns with your vision of the future so you can make the most of your life at every age.
