Part of your plan is how you spend your money – now and when you retire. Talk about it.
Building Your Plan
Retirement Planning
We help you evaluate your income sources, anticipate expenses, and build a strategy designed to support you through every stage of retirement. With ongoing guidance and regular reviews, we help you stay on track and adapt as your needs evolve over time.
It starts with a plan...
One built to provide structure, clarity, and confidence in the decisions ahead. Our planning process serves as the foundation for your retirement strategy, by helping you make key decisions such as:
- When and how you can retire with confidence?
- How to help your savings last throughout retirement?
- Where will your income come from?
- How to prepare for and respond to changes over time?
- How and when to incorporate your legacy goals?
- Will the money in your investment accounts last through retirement?
7 Common Retirement Planning Moves
Here are some steps that go beyond the basics of using tax-advantaged funds and making regular contributions.
1. Review Your Portfolio
Regularly check up on your investments both independently and with us to ensure they remain aligned with your goals.
2. Maintain Emergency Savings
Maintain a dedicated reserve for unexpected expenses, helping provide stability during periods of uncertainty.
(Wells Fargo Advisors continues to recommend 3–6 months of expenses in a liquid account.)
3. Set an Appropriate Asset Allocation
Investments are always changing. Markets fluctuate, and different assets carry different levels of risk. Adjust your portfolio to align with your goals, time horizon, and tolerance for risk.
4. Itemize Your Income Plan
Understand where your retirement income will come from. Think through each source—Social Security, pensions, and investments—and how it will support you over time.
5. Streamline Your Accounts
Take a step back and simplify where you can. Bringing accounts together can reduce paperwork, simplify your financial picture, and make it easier to monitor your overall strategy.
We’ll help you walk through your options and determine what makes the most sense for your situation.
Before taking any action, we recommend consulting with your retirement plan administrator and tax professional.
6. Sell Assets Strategically
The timing and approach to selling investments can have a meaningful impact on your overall plan. We help you think through when and how to make changes, considering market conditions, your goals, and potential tax implications.
We’ll walk you through your options so you can understand the trade-offs and make decisions with confidence.
7. Talk With Family
Open communication can help ensure everyone is aligned and prepared. Having these conversations early can bring clarity and reduce uncertainty later.
Key areas to review may include:
- Current assets
- Savings levels
- Account structure
- Asset locations
- Spending and budgeting
A well-designed plan reflects not just how you invest—but how you live, both now and in retirement.
A thoughtful retirement plan considers potential risks such as inflation, market changes, healthcare needs, withdrawal strategies, and longevity.
Understanding these factors—and planning for them—can help you stay on course over time.
Getting started doesn’t have to be complicated.
These simple steps can help bring clarity and direction to your retirement plan:
- Define what you want your retirement to look like.
- Outline your expected income sources and expenses.
- Review of your current investments and overall allocation.
- Connect with us to begin building your personalized retirement strategy.
Wells Fargo Advisors does not provide tax or legal advice.
Investing involves risk including the possible loss of principal. Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. Diversification does not guarantee profit or protect against loss in declining markets. Stocks offer long-term growth potential, but may fluctuate more and provide less current income than other investments. An investment in the stock market should be made with an understanding of the risks associated with common stocks, including market fluctuations. Dividends are not guaranteed and are subject to change or elimination.
Investing involves risk including the possible loss of principal. Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. Diversification does not guarantee profit or protect against loss in declining markets. Stocks offer long-term growth potential, but may fluctuate more and provide less current income than other investments. An investment in the stock market should be made with an understanding of the risks associated with common stocks, including market fluctuations. Dividends are not guaranteed and are subject to change or elimination.