Join Deanne Rosso, CEO of Elevate Wealth Advisory, as she dives into the crucial topic of Legacy Planning in retirement. This episode features wealth adviser Clarke Holt, who shares invaluable insights on the most critical action to take in estate planning: ensuring your accounts and assets are correctly titled with up-to-date beneficiary designations. Learn why aligning your will with your policy beneficiaries is vital for a smooth transfer to your heirs and how it can significantly speed up the process. Clarke emphasizes the importance of updating your plans after life changes like marriage, divorce, or the passing of a beneficiary. For personalized advice on integrating legacy planning into your wealth management strategy, visit our Website below, and click the Let’s Talk button! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: https://www.facebook.com/elevatewealthadvisory 🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/ Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #WealthAdviceForYourBestLife #election #politics #financialmarkets #financialplanning

Join Deanne Rosso, CEO of Elevate Wealth Advisory, as she dives into the crucial topic of Legacy Planning in retirement. This episode features wealth adviser Clarke Holt, who shares invaluable insights on the most critical action to take in estate planning: ensuring your accounts and assets are correctly titled with up-to-date beneficiary designations. Learn why aligning your will with your policy beneficiaries is vital for a smooth transfer to your heirs and how it can significantly speed up the process. Clarke emphasizes the importance of updating your plans after life changes like marriage, divorce, or the passing of a beneficiary. For personalized advice on integrating legacy planning into your wealth management strategy, visit our Website below, and click the Let’s Talk button! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: https://www.facebook.com/elevatewealthadvisory 🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/ Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!

#AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #WealthAdviceForYourBestLife #election #politics #financialmarkets #financialplanning

Join Clarke Holt, this week's host at Elevate Wealth, as he explores the distribution phase of retirement with Deanne Rosso, President and CEO of Elevate Wealth Advisory. In this episode, they discuss the critical "spend-down" period—when retirees start their required minimum distributions at age 73 or 75 and transition through different stages of activity in retirement. Deanne shares essential advice on maintaining a sustainable withdrawal rate, understanding the impact of portfolio management, and the importance of tax strategies during these years. Learn how to manage your retirement savings effectively to ensure your assets last throughout your retirement years. If you need help creating a personalized retirement spend-down plan, we’re here for you! Schedule a free consultation. Just visit our Website below, and click the Let’s Talk button! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: https://www.facebook.com/elevatewealthadvisory 🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/ Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!

FULL TRANSCRIPT:

Hey! I'm Clarke Holt, and I'm your host this week for Elevate Wealth. Recently, I've been chatting with clients about the different stages of retirement, and this week we want to focus on the distribution phase, or the spend-down phase. I'm very pleased to have our president and CEO Deanne Rosso with me Hey, Clarke! Welcome, Deanne! Thank you. So, Deanne, what would be your number-one piece of advice to give clients during this phase? Yeah, so thanks for having me, Clarke. You know, for this phase, we're talking about from the time that you start your required minimum distributions, which is age 73 or 75, until you pass away. So it's the evolution from your go-go years to your slow-go years and then finally your no-go years, where you may be homebound or need care. And financially, what that looks like, is a dome shape or the top of an egg, where at first your assets are are gaining while you're taking withdrawals, but then you'll crest and kind of towards that spend-down phase you'll start to spend down those assets naturally, because due to inflation, price increases, what you need in income, your assets will start to decline in value. So, you know, the most important thing to do during this phase is to make sure that you maintain a sustainable withdrawal rate. And a sustainable withdrawal rate and basically what I mean by that is, don't take too much money out of your accounts. A sustainable withdrawal rate is going to vary based on your personal situation, based on how your portfolio is invested, a number of factors. But a rule of thumb is generally 4 to 6 percent of your portfolio that would be a sustainable withdrawal rate. That's really great advice, Deanne. Is there anything else you might add? You know I think the most important thing obviously other than just a sustainable withdrawal rate is making sure you have a plan for that, and remember that you don't have to go It alone. That's something that the pros at Elevate Wealth are here to do, so navigate over to elevate-wealth.com and click "Let's Talk" if it's something that we can help with. Well, thanks for joining me. I appreciate it. And if you're watching and listening click subscribe and we'll see you next time! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #WealthAdviceForYourBestLife #election #politics #financialmarkets #financialplanningSubscribe to our channel for more insights on financial planning and securing your financial future in retirement.