Akron Life November 2022

FINANCIAL PLANNING

by Alexandra Sobczak

Next Chapter Get expert tips on finances after retirement.

costs. They also tweak the plan as time goes on for the different stages of retirement. “From the early retirement to the mid retirement and then to later years, each one of those has a little bit of a nuance to the planning that we do,” Presper says. “We bring confidence to the decisions that they’re making.” “Retirement can be such a great chapter in their life if they make good decisions,” adds Dan Garner, another financial adviser at Presper. “We talk about each one of those, and we help them along the way.”

So much focus is put into saving for retirement, but it’s important to consider your finances after hitting that milestone too. “You need to have a plan, a map, a checklist that you go through to make sure that you have covered all your bases,” says Tom Presper, a financial adviser and founder of Presper Financial Architects in Akron and North Canton. To create that plan, Presper walks retirees through different financial situations that can appear during retirement, such as different forms of income and increased health care

BRING IT IN Retirement is worth celebrating, but it also makes some people nervous. “All these years, they’ve had a paycheck coming in, and then all of a sudden … that paycheck is going to stop,” Garner says. “How are they going to be able to continue to travel and do the things they like to do? … That’s where income

planning comes into the mix.” After retiring, income can take a few different forms, including collecting a pension.

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