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Our Specialty

The Three Phases of Retirement

Generally speaking, there are three phases of retirement planning:

  1. Early phase of building assets (early phase)
  2. Transitioning into Retirement (middle phase)
  3. Maintaining those assets (final phase)

At Madison Financial Planning Group we specialize in the middle and final phases - transitioning into and living in retirement. We believe the transition into retirement can often be the most stressful and complicated phase. While in this phase, which traditionally occurs in those five years before retirement, it is important to identify and capture needs, objectives, and vision of a successful retirement. This middle phase is where we typically begin our working relationship with new clients, guiding them through the transition and assisting them thereafter as they live in retirement.

As you transition and prepare for retirement, you are faced with a new set of decisions, such as determining when you’ll claim Social Security, how to reduce taxes, how to create a consistent stream of income that matches your lifestyle, and how to leave a legacy to your family and loved ones. This can be overwhelming for many, which is why it’s critical to have a dynamic retirement plan that is customized to your unique situation. While we develop a client’s retirement plan as they transition into retirement, we also provide ongoing support as the client lives in retirement, from offering guidance to adjusting a plan based on personal, legal, or economic changes.

We understand the complications of retirement planning. Our goal is to help clients avoid the common pitfalls people make and develop a holistic retirement plan that addresses their unique needs and to support them through their retirement years.