Worried that your financial strategy is Missing Something?

At Meridian Retirement Solutions we always start with a PLAN. The old adage “failing to plan is a plan to fail” rings true. Many advisors walk around with a solution looking for a problem. In many cases this leads to investors making uninformed decisions, and buying investments and products based on biased recommendations. This is why the Meridian team takes the time to develop a plan for each and every one of our new and existing clients. Rather than get the cart before the horse and start buying “stuff”, we design a financial plan that brings direction and clarity to the investments and products we choose. This avoids the infamous “financial junk drawer”. The financial junk drawer is chock full of life insurance policies, annuities, IRA and Roth IRA accounts, college education investments, REITS and so on. These are all investments you’ve accumulated along the way, because you wanted to be a good steward with your money and protect your loved ones. Now that you have all this “stuff” how do you coordinate it and make sure it’s working together to bring success?  That is why a financial plan is so vital. Discovering what exactly it is that you have, how it works, and how it affects you is where we start.

How Much Do I Need to Retire?

With pensions dwindling, cuts to Social Security, and skyrocketing costs of living, the question on the minds of many older adults is “How much do I need to retire?”

The answer depends on several factors, including the number of dependents for which you are responsible, the standard of living you would like to maintain, the cost of living in a particular region, and many more. At Meridian Retirement Solutions, we guide you through these complex factors to develop a personalized retirement income planning strategy that works for your long term goals.

We Build Relationships, as Well as Financial Portfolios

Led by the renowned expertise of Larry Goldstein, our Boca Raton retirement planning firm develops one-on-one relationships with each client, while offering the same high-quality services as corporate giants. We encourage all residents in the Boca Raton area to visit our office and discuss retirement planning, wealth management, Social Security, and any other questions they may have related to their long-term retirement plan.

After securing your retirement income, our experts at Meridian Retirement Solutions will help you maximize the money market portion of your portfolio. This allows you to continue building wealth without taking risks that could compromise the security of your future. The earlier you begin planning for retirement and developing an investment portfolio, the less you will have to worry about your future financial needs.

Our Strategy is Simple:

  • Ensure your retirement income on a monthly schedule.

  • Manage the remainder of your assets to support aggressive growth.

  • Enjoy a carefree retirement without financial worries.

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Social Security Maximization

When you apply for Social Security retirement benefits for the first time, you may not give much thought to the precise monthly amount you’ll begin receiving. However, the decision to claim Social Security benefits at 62 instead of 67 or 70 (or vice versa) can mean leaving thousands of dollars on the table, depending on your personal circumstances. These factors include your non-Social Security income, your net worth, your family history and longevity, and how your current salary stacks up against past years’ earnings.

For example, someone who waits until 70 to claim these benefits and passes away at 72 will wind up receiving only a fraction of the benefits they would have received if they had claimed these benefits at 62. Someone who claims their benefits at a relatively young age and then lives for another several decades might have realized more benefits by waiting a few years to receive the higher amount. Asking the question, “How much Social Security will I get?” before you decide to make a claim — and fitting the answer into your budget and retirement spending plan — will ensure you never feel the financial squeeze in retirement.

Although knowing the average Social Security benefit by age can be useful as a ballpark estimate, determining “How much does Social Security pay?” in a specific situation will depend on your earning history. You can get a fairly accurate read on your future Social Security payments by looking at your last Social Security benefits statement or using an online Social Security estimator. These tools can help you answer the question with confidence, while Meridian Retirement Solutions can work with you on maximizing Social Security.

Retirement Income Planning

Our approach is simple but unique:

  • Develop a lifetime income plan that each of our clients can use as a foundation or a stepping stone that has reliable, sustainable income for life.
  • Look at all strategies for Social Security maximization, including a complimentary report in partnership with Dr. Laurence Kotlikoff, America’s foremost expert on Social Security.
  • Manage the remainder of your portfolio to support growth, while incorporating stop-loss strategies to try removing emotion from your investment decisions.
Efficient Tax Planning

Most advisors and accountants are not focused on minimizing your tax obligations throughout your lifetime. Most people who’ve accumulated a good portion of their wealth in IRAs or 401(k)s become partners for life with the IRS, and not by choice! Unfortunately, many people are not given proper long-term tax advice. We are keenly focused on tax efficiencies, since it’s not about what you’ve accumulated in wealth — it’s about what you keep throughout your life. We explore ROTH IRA option conversions with all our clients.

Long-Term Care Planning

With the cost of a semi-private or private room in a nursing home topping $8,821 per month in 20201, being able to protect against increasing costs has become more important than ever. Whether you saved diligently during your working life or were still playing catch-up at retirement, paying out-of-pocket for nursing or assisted living care for yourself and/or your spouse in retirement can spend down even the healthiest of nest eggs.

When planning for retirement, it’s easy to overlook long-term care insurance. After all, no one wants to imagine a day when they may not be able to care for themselves. But purchasing long-term care insurance, or LTC, is a key component in a comprehensive financial plan; people are living longer than ever, the cost of care is increasing, and Medicare doesn’t cover the costs of long-term care. It just makes sense to protect yourself — and your estate — by planning ahead for what can be a significant cost.

Thinking about LTC insurance now can save you a lot later. Investing in the right policy will protect you in the future by providing benefits when you might need care. And even if you don’t use those benefits, your estate will receive the policy value, tax-free. Now is the time to plan ahead and mitigate future risk.

1 Genworth. 2020. Cost of Care Survey. https://www.genworth.com/aging-and-you/finances/cost-of-care.html. Accessed June 1, 2021.

Wealth Management

We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. In uncertain times, asset and wealth management strategies are imperative. These are, by any standard, uncertain times, and planning for the future is difficult. 

Financial concerns of high-wealth families and individuals require specialized services and focused attention on the changing climate of investment opportunities and strategies. Savvy investors, particularly those who are currently looking toward a stable retirement, want to preserve and protect existing assets. At the same time, most want to offset inflationary trends, grow an investment portfolio, develop means to grow income during retirement, and deal with a volatile investment market.

Advice offered by various wealth management companies can be contradictory and confusing. Wealth investment advisors sometimes offer “cookie cutter” solutions that do not address the specific needs of high-net-worth investors. Wealth management is complex and must be individualized. It requires a deep understanding of all the forces at work in the economy, and must weigh the effects of local, state and national monetary policy and tax legislation against global economic practices and forecasts. 

Asset wealth management requires extensive knowledge, deep understanding and a commitment to serving the distinctive needs of clients. Meridian Retirement Solutions, with Larry Goldstein at the helm, combines local knowledge and expertise with the insights and resources of a global financial leader to effectively serve the needs of the discerning high-wealth investors in the Boca Raton, Florida area.

Investing

Larry and the team at Meridian will help and empower you to build a sound investment portfolio, so when you retire, you can stay retired. All investment advice is approached from a risk management, asset preservation perspective. The most important question to ask yourself is: “What is most important to me over the next few years: Outperforming the stock market or meeting my family’s income needs over the next 10, 20, 30+ years?”

Ready to Take The Next Step?

For more information about any of our products and services, schedule a meeting today or register to attend a seminar.

Or give us a call at 561.820.4890.