A world of possibilities awaits you when you leave your formal career. You're free to choose how to spend your time, whether that means consulting, working part time, volunteering, traveling, pursuing hobbies, or simply having more time for family and friends.

The key to enjoying your retirement is having the financial independence to live the lifestyle you want. Like all important decisions in life, this takes planning and commitment before you take the next step. Through our sophisticated planning process and a highly customized set of products and services, we can help you get started.

• Analyze your situation and formulate your retirement goals
• Estimate your financial needs
• Understand your current retirement assets and the income they will generate

• Is volunteerism or philanthropy part of your retirement vision?
• Where does travel fit into your retirement picture? How often? How far?
• Do you want to relocate your primary residence to another area?
• Do you expect to buy a second home such as a beach house or mountain cabin?
• Will your retirement obligations include providing financial support to children, grandchildren or aging parents?

The activities and lifestyle you want to enjoy in retirement have a significant bearing on your financial needs. Once you have a vision for your retirement, you need a sense of how much income you must generate from your assets, or from some type of work, in order to fund your vision. Most affluent individuals find they need 100% or more of their current income in order to enjoy the retirement they want.

Using our 7-Step Financial Planning process, we can help you put a price tag on these broad categories:

• Home costs
• Food
• Medical care
• Transportation
• Family responsibilities
• Travel and entertainment
• Hobbies
• Gifts and philanthropy

3. Understand your current retirement assets and the income they will generate.

You've worked hard to achieve success and build financial security for your family. As a result, your retirement savings plans may be among your most significant assets. But they are unlikely to be your only source of potential retirement income.

Consider all of your assets as potential retirement income sources:

• 401(k) or other qualified retirement plans
• Your investment portfolio
• IRA accounts
• Equity in your business or private partnership
• Stock options
• Rents or royalties from specialty assets such as real estate; farm, forest or timber land; or oil, gas or mineral properties

A key part of your retirement income is likely to be influenced by your savings and investment strategies. Private Client Group investment professionals can review your assets and recommend a portfolio that can help you minimize your risk while maximizing your returns.

When we look at appropriate asset allocation for individuals nearing or in retirement, we examine not only the allocation of assets into investment categories, but also which specific investments are best suited for each of your retirement accounts. Our investment professionals will analyze your entire asset mix and recommend how to work toward optimizing your holdings while minimizing risk and tax liability.¹

We can also provide experienced counsel to help you address risk associated with:

• Concentrated holdings such as company restricted stock or stock options
• Equity in your business or private partnership
• Investment real estate
• Specialty assets such as farm, forest or timber land, or oil, gas and mineral properties

• Traditional IRA — An Individual Retirement Account that contains regular IRA contributions. The funds grow tax deferred until you begin to make withdrawals. Funds distributed to you are taxed at your income tax rate at the time of distribution. The amount contributed may be tax deductible depending on your income level and if you are covered by an employer-sponsored retirement plan. Amounts contributed that are not deductible can still enjoy tax-deferred growth.
  
  
• Rollover IRA — An Individual Retirement Account with funds received from a qualified plan such as a profit sharing, Keogh, 401(k), 403(b) and certain 457 plans. Funds move without penalty from the qualified plan to the IRA and continue to grow tax deferred until a distribution is taken.
  
  
• Roth IRA — An Individual Retirement Account funded with non-deductible contributions. The ability to contribute to a Roth IRA depends on your adjusted gross income for the year. Contributions have the same limits as Traditional IRAs and distributions are not subject to income tax if certain requirements are met.