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Retirement Planning

Planning For Your Future

As we progress through our working years, retirement often seems like a distant dream. However, it is important to start planning and saving for retirement as early as possible. Retirement planning involves making long-term financial decisions that can affect our quality of life in the future. At Rowhouse Financial Partners, we understand the importance of retirement planning and are dedicated to helping our clients pursue their retirement goals. We strive to be your neighborhood resource for all money matters, providing expert advice and guidance every step of the way. Whether you are just starting to think about retirement or are already in the midst of your retirement planning journey, our team is here to offer personalized solutions that meet your unique needs.

Retirement Income

As we grow older, the need for a reliable source of income becomes more important. Our team can work with you to set aside a portion of your income today, so you can have enough money to live on when you retire. There are various savings vehicles available that can help to work toward your savings goals, such as investments, annuities, 401(k)s, and pension plans. 

Asset Protection

 Our team can help you protect your financial stability by planning for unexpected health expenses. We'll explore options such as long-term care insurance or Medicaid, and plan for who will provide care. Home modifications can make aging in place easier, and we'll help you plan for the emotional and social aspects of long-term care.

Supplemental Income

Retirement can be an exciting milestone, but it can also bring financial uncertainty. Our team can help you prepare for retirement by reviewing supplemental income options such as life insurance, allowing you to enjoy your golden years with peace of mind. Life insurance can not only act as a safety net for loved ones but also as a source of supplemental income during retirement.


Healthcare costs remain one of the most significant expenses many will face in retirement. Our team can help you determine when to stop working, take Social Security, and generate cash flow in retirement to prepare for these expenses. Strategies to bridge the healthcare savings gap include raising contributions to tax-advantaged accounts, particularly HSAs, which allow for tax-free spending on healthcare during retirement.

Social Security

Social Security benefits can provide you with a steady stream of income and help support a comfortable lifestyle in retirement. Our team can help you navigate the complex rules and regulations surrounding Social Security, so you can plan ahead and make informed decisions. By taking the time to understand the benefits and options available, you can maximize your Social Security benefits and work towards a more secure retirement.

Legacy Planning

While many people believe that estate planning is only for the wealthy, everyone can benefit from having a plan in place. By creating an estate plan, you can ensure that your assets go to the people and causes you care about and that your loved ones are taken care of after you're gone. Our team can work to help you minimize estate taxes, review beneficiaries, and prepare your loved ones with the information they need should the worst happen.

Retirement Planning Checklist

Retirement is a phase of life that requires careful planning and preparation. A retirement planning checklist can help you stay organized and on track as you approach your golden years. Here are some important items to consider as you plan for retirement:

  • Determine your retirement goals. Before you can start planning for retirement, you need to know what you want to achieve in retirement. Do you want to travel the world, start a new hobby, or spend time with family? Once you have identified your goals, you can begin to plan accordingly.
  • Assess your financial situation. Review your income, expenses, and debts to determine how much you will need to save for retirement. Consider factors such as inflation, healthcare costs, and unexpected expenses.
  • Create a retirement savings plan. Develop a plan for saving and investing your money to achieve your retirement goals. This may include contributing to a 401(k), IRA, or other retirement accounts.
  • Evaluate your insurance needs. Review your insurance policies to ensure that you have adequate coverage for healthcare, disability, and long-term care.
  • Develop an estate/legacy plan. Create a plan for how your assets will be distributed after your death. This may include creating a will or trust, designating beneficiaries, establishing powers of attorney, and donating to causes you care about.
  • Consider your housing options. Decide where you want to live in retirement and determine whether you will need to downsize, renovate, or move to a new location.
  • Plan for healthcare. Consider how you will pay for healthcare and long-term care expenses in retirement. This may include purchasing long-term care insurance or setting up a healthcare savings account.
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