For most people, preparing for retirement can feel both exciting and intimidating. After all, the possibilities are virtually endless, and the questions are many. The experienced team at Jones & Roth is here to offer tailored guidance and solutions to help you navigate key questions and decisions as you prepare for this next phase of life.

• How can I protect my retirement funds against market fluctuations?

  Diversification is one key strategy that can help protect your retirement savings. Balancing higher-risk investments with more stable options, and adjusting your portfolio as life changes, can help shield you from market volatility. As your fiduciary, we’ll create a plan tailored to your financial situation.

• Do I need a strategy for withdrawing money from my retirement accounts?
  The ideal withdrawal strategy depends on your goals, tax bracket, and account types. But, many people start with taxable accounts, followed by tax-deferred accounts, and finish with tax-free accounts. Your approach should help minimize taxes and ensure a sustainable income stream throughout retirement.
• When should I start claiming my Social Security benefits?

  This answer depends on a number of factors, such as your financial needs, goals, and even your health. Taking benefits early at age 62 will result in a lower monthly income. If you have a longer life expectancy and can afford to wait, delaying could help you maximize your lifetime benefits.

• Is it better to pay off my mortgage before I retire?

  Paying off your mortgage before retirement can help you reduce monthly expenses, freeing up more of your income for other uses. However, it’s important to evaluate your overall financial picture. If paying off the mortgage first could negatively impact your ideal timeline or other investment opportunities, you might find that other goals take precedence.