After a lifetime of working, a person approaching retirement will start feeling anxious about the next phase of their life. This is natural – retirement can bring big changes in lifestyle, financial circumstances, and perspective. As financial planners, we often hear from people less than one year from retirement. Their questions vary in topic, but the root of their concern is “getting it right” in retirement.

As the end of the year approaches, your tax situation becomes clearer. Most people are quick to remember that IRA distributions you’ve taken this year and any work earnings are taxable as ordinary income. What’s often missed is the impact of capital gains and losses on your tax bill, which can result in much higher taxes due or missed opportunities to save. 

As many of you know, Les Andrews was a founding member of Andrews Advisory Associates, LLC and the company carries his name and legacy. His 45+ year career allowed him to be the financial guide for some amazing people. Since Christina and I took full ownership of Andrews Advisory Associates, LLC in 2022, we have prioritized continuing to deliver a first-class experience for our clients and their families.

This Friday and Saturday, September 26 and 27, Andrews Advisory Associates, LLC will have a booth at the Young at Heart Hawaii Expo. If you’ll be at the event - come by our booth and say hi!

Going into retirement with the right withdrawal strategy can bring you tremendous peace of mind about your finances. Not having the right withdrawal strategy in retirement can mean wondering if you need to go back to work with every dip in the stock market.