Retirement is a dynamic journey that requires thoughtful planning and management. We understand common concerns like outliving savings, managing healthcare costs, navigating Medicare and Social Security, setting up charitable giving, or finding fulfillment in this new chapter.
Mercer Advisors is here to simplify retirement’s complexities and help you confidently embrace this next stage of life.
Living in Retirement: A New Chapter
Retirement is a significant milestone—an opportunity to embrace the rewards of a lifetime of hard work. But it also brings financial (and emotional) challenges.
Navigating Financial Complexity
Retirement introduces intricate financial decisions, from optimizing income sources like Social Security and retirement accounts to managing healthcare costs and tax liabilities. Careful planning and regular adjustments help ensure your savings last while supporting your desired lifestyle. Consulting with a trusted advisor can simplify these complexities and provide clarity.
Embracing a New Lifestyle
Transitioning to retirement involves redefining daily routines and goals, which can bring emotional challenges. Finding fulfillment may include exploring hobbies, fostering social connections, or giving back to the community. Adapting to this new chapter with purpose and proactive planning ensures a balanced and rewarding retirement.
How Mercer Advisors Can Help You Thrive in Retirement
At Mercer Advisors, we focus on helping you confidently navigate retirement through proactive planning and annual reviews to keep you on track.
Key Financial Considerations
- Income Planning: We help ensure your savings last by addressing factors like inflation, life expectancy, Social Security, and unexpected expenses. Your plan is tailored to your unique goals and lifestyle.
- Tax and Legacy Planning: Retirees face taxes on income from distributions and investments. We work to help minimize tax liabilities while maximizing what you leave for heirs.
- Estate Planning: Proactively manage wills, trusts, and powers of attorney to ensure your assets are distributed according to your wishes, protecting your loved ones.1
- Healthcare Planning: Rising healthcare costs and unexpected medical expenses can impact savings. We craft plans designed to optimize available public and private benefits, helping to give you confidence.
Our goal is to help you answer the question, “Am I going to be OK?” with confidence. Together, we’ll ensure your retirement plan evolves as life changes.
1 Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning document preparation and other legal advice is provided through select third parties unaffiliated to Mercer Advisors.
Specialized Services for Living in Retirement
- Creating a sustainable retirement income withdrawal strategy
- Establishing realistic saving and spending plans tailored to your lifestyle
- Optimizing Social Security claiming strategies for maximum benefits
- Navigating Medicare options and healthcare cost planning
- Assessing and adjusting investment portfolios for retirement goals
- Implementing tax-efficient strategies to minimize liabilities
- Planning for long-term care and insurance needs
- Developing a comprehensive estate plan for asset protection and tax efficiency
What You Can Expect from Our Retirement Advisors
Living in retirement brings new opportunities—and new complexities. From managing income and healthcare costs to aligning your lifestyle with evolving priorities, having the right advisor by your side helps you make confident decisions that support a fulfilling and financially secure retirement.
Ongoing income planning that adjusts with you.
Your income needs will shift throughout retirement. We help you create a sustainable withdrawal strategy that evolves alongside market conditions, lifestyle changes, and unexpected expenses—so you can enjoy financial freedom.
Guidance for the decisions that come after the transition.
From Medicare enrollment and required minimum distributions (RMDs) to downsizing or updating your estate plan, our advisors help you navigate the real-life decisions that shape your retirement experience.
A lifestyle-first approach to long-term planning.
Whether you’re spending more time with family, traveling, or volunteering, your retirement plan should support the way you want to live. We help ensure your financial plan reflects your priorities—today and in the decades to come.
Additional Retirement Solutions
Retirement is a journey that evolves with time—and so should your financial plan. Whether you’re preparing for retirement, living it day to day, or considering a move that better suits your next chapter, Mercer Advisors offers specialized guidance for every stage.
Your Post-Retirement Checklist: Steps to Take to Pursue Financial Security
FAQs About Managing Wealth in Retirement
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To help ensure your retirement income lasts, start by creating a sustainable withdrawal strategy. It may be in your best interest to work with a financial advisor who can help you calculate your maximum annual withdrawal rate so that you know you’re living within your means. Remember to adjust for inflation to help preserve your assets over time.
Otherwise, diversify your portfolio to manage market risks while maintaining financial stability. Budget carefully, prioritize essential expenses, and reduce discretionary spending when needed.
And finally: regularly review your plan with a financial advisor to adapt to life changes/market changes to help you stay on track.
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Here are three key tax considerations for retirement:
- Taxable Withdrawals: Distributions from traditional IRAs and 401(k)s are taxable as ordinary income. Plan withdrawals carefully to avoid pushing yourself into a higher tax bracket.
- Social Security Taxation: Depending on your total income, up to 85% of your Social Security benefits may be taxable. Monitor your income sources to manage this impact.
- Roth Conversions: Converting traditional retirement accounts to Roth accounts can provide tax-free withdrawals later. However, the conversion amount is taxable in the year it’s made, so consult with a financial advisor to determine the best timing.
A financial advisor that provides comprehensive oversight of your plan and portfolio can help minimize taxes in retirement.
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To adjust your retirement plan for market volatility, focus on both defensive and opportunistic strategies. Diversify your portfolio across asset classes to reduce exposure to any single market segment, which helps mitigate risk during turbulent times. Consider tax-loss harvesting to offset capital gains and improve tax efficiency. For those with concentrated positions or large gains, strategies like covered call writing can enhance returns while managing risk.
Regularly reassess your asset allocation to ensure it aligns with your risk tolerance and long-term goals. Consulting with a financial advisor can help you navigate these adjustments and identify opportunities to strengthen your retirement plan amidst market fluctuations.
