What to do when you're forced into early retirement
In a minute everything can change. From 10 years to retirement to having the when to retire decision taken from you. It can feel overwhelming, and that’s why we put together a system specifically designed to navigate this transition. Our system creates a personal plan to stabilize the next 12 months, bridge the gap to full retirement, and manage retirement from beginning to end.
We’ve helped thousands of people, advising over $175 million on how to plan for and navigate retirement.
Everything is changing. We’ve seen more people forced into early retirement over the last 2 years than over the first 20 years in business. It’s unlike any time in history. Because this time the jobs are not coming back. Millions of us are being pushed into early retirement with no advance notice. We all need to rethink our retirement strategy, even those who think retiremen is 30 years away.
Navigating Forced Early Retirement
We break down this complex and stressful change of plans into a clear system for decision making and manageable steps from stabilizing your next 12 months, to the bridge to full retirement age, through retirement.
Phase 1, Stabilization
Phase 1, Stabilization
The most important first step is to create stability in income and expenses over the next 12 months.
This process includes a deep dive on all of your inputs (income sources and assets) and outputs (expenses including new expenses such as healthcare)
We also do a deep dive on:
- Navigating severance packages and unemployment benefits
- Optimizing healthcare transitions
- Leveraging the Age Specific Rules for 401(k) access
- Creating an emergency budget and cash flow plan
- Reducing unnecessary expenses for the next 12 months while we work on the bridge plan to full retirement
Phase 2, The Bridge
Phase 2, The Bridge
Once we have the next 12 months on autopilot it’s time to review the bridge plan to retirement.
This phase includes:
- An in depth review of all of your assets, including penalties for early withdrawals
- Social Security Options and Optimizations - including for Spouses
- Healthcare Transition Planning - including Maximizing Health Savings Accounts
- Tax Efficient Withdrawal Strategies such as Pre-Retirement Roth Conversions, and Tax Bracket Management Strategies
Your Personalized 3 Bucket Retirement Plan
Your Personalized 3 Bucket Retirement Plan
If you decide to work with us the first step is putting together your personalized 12 month stabilization, bridge and full 3 bucket retirement plan. This process includes a deep dive into your current and projected income by source (such as Social Security, 401K or Pensions), and expenses based on where you live including healthcare costs, taxes, and inflation based cost of living adjustments.
Step 2 is a deep dive on the impact your geographic plans will have on cost of living increases from inflation, increased taxes, or insurance.
The final step is putting together your 3 Bucket Plan. The 3 bucket plan has 3 simple but key complimentary puzzle pieces, each with what if scenario models built into the budgets:
- Bucket 1 (Years 1 - 7) stability of income
- Bucket 2 (Years 8 - 15) higher return to refill bucket 1
- Bucket 3 (Years 16+) asset growth to refill bucket 2
Talk with Us
Elizabeth Evanisko, CRC
Wealth Manager, Founding Partner
About Elizabeth
Since 2007, Elizabeth has been bringing her compassionate, honest approach to client relationships along with her extensive professional experience. As a Wealth Manager, she has a deep commitment to helping people and enjoys the opportunity to work one-on-one with clients and help them identify their most important goals and dreams. Clear, direct advice geared toward each individual is a hallmark of Elizabeth’s style. She appreciates the hard work that went into earning and saving the money that is being entrusted to her care as a significant responsibility. Growing up - my dad owned an auto repair shop that my grandfather started. He worked with generations of people who trusted my family. Crawling under a car never enticed me, but the relationships he built on trust lasted for generations. This career allows me to have those things too.
Education and Licenses
SUNY Fredonia graduate with a double major in economics and political science.
Series 6, 26, 63 and 65 registrations.
Life, Accident & Health Insurance license.
Jeff Gelormini
Wealth Manager, Founding Partner
About Jeff
Throughout his career, Jeff has maintained his focus on helping people by making a difference in their lives. As a Wealth Manager since 2011, he thrives on helping clients make important financial decisions that allow them to achieve their long-term goals. Jeff works with clients from all walks of life, primarily professionals who seek long-term financial solutions but gets the greatest satisfaction from constructing retirement income plans that create predictable, sustainable income. Before becoming a Wealth Manager early in his career, Jeff was the Tight Ends Coach, Assistant Offensive Line Coach, and Assistant Recruiting Coordinator at Albright College, giving him coaching skills that he still applies today. Jeff believes strongly in the importance of providing financial education for his clients to empower them to make sound and informed decisions.
Education and Licenses
Ashland University educated with a major in Sport Management and Communications and a minor in Business Administration.
Series 6 and 63 registrations.
Life Insurance licensed.
Brett Komm, CSSCS, CRC
Wealth Manager
About Brett
Brett comes from a family that has dedicated their lives to serving people in their community. He grew up seeing the trials and tribulations of a family-owned business and knew that he wanted to do something that had a positive impact on people’s lives. Math and problem-solving were skills that he had always excelled at, and the Financial Services Industry was a perfect match. Brett takes the time to get to know his client’s needs and wants financially. He walks them through past experiences and maps out their financial future in different time frames. Helping them manage expectations and set achievable goals that they can work towards. There are a lot of talented people in our industry, and with advances in technology, people can find a lot of information that may be able to help them with their financial goals. When I sit down with new clients, I tell them we are entering into a relationship. I could be the smartest person in finance, but if they don’t know that I truly care about their lives/goals, then my impact won’t be felt. I believe the time I take to understand my clients and guide them to make decisions is the only way to build a strong relationship.