Don’t Start that Retirement Party Yet

Happy retirementHere are some steps to take that will help you maximize your retirement benefits and automate tax payments so that you can enjoy the happy retirement you’ve earned.

If you are among the folks who are planning to retire either in springtime or early summer, be warned that before you begin planning your retirement party, there are critical things you’ll need to do first.

Make sure to get the match. Your employer may “match” and/or offer “profit-sharing” contributions to your 401(k) or another retirement plan. You typically must be actively employed on the date of payment in order to receive these funds, so be sure that you understand the terms before setting your final work date.

You may want to up your personal contribution percentage to help you reach your annual maximum. Employers frequently limit the amount you can contribute to your plan from each paycheck, so you may need to increase your contribution percentage long before you retire to max out.

Review Your Risk Profile. Retirement is a major change in your life. It’s a transition from saver to the spender, where you’ll start spending your retirement nest egg. Rebalancing your investments is critical to keep things in balance when you retire.

Don’t keep too much of your portfolio in riskier assets like stocks, or you’ll be vulnerable to a potential market downturn.

Don’t Underpay Your Taxes. When you retire, by default, taxes aren’t withheld on your retirement income. You have to opt in to have taxes withheld from your Social Security benefits, pension benefits, and IRA or 401(k) distributions.

If you don’t have taxes withheld, you’ll need to pay estimated taxes.

Reference: Kiplinger (May 2017) “4 Actions to Take If You’re Retiring in 2017”


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We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
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Thank you, Walt and the Zaremba Team

Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.