Do I have enough money to retire? Will I run out of money in retirement? When can I retire? Almost every retiree that walks through our doors ask the same questions. The answers, however can be very different for each client because each and every one of us has a unique situation and circumstances. You will not find “blanket recommendations” at Murphy Wealth Management. As you shift from the accumulation phase (building wealth) to the distribution phase (withdrawing from assets for retirement income), your strategy must transition as well.
Not choosing the right Medicare plan, incorrectly calculating when to elect Social Security, and withdrawing money from the wrong accounts for income can quickly turn into increased Medicare premiums, taxation of your Social Security and running out of money in retirement. Comprehensive retirement planning is vital for this phase of life. Our allegiance is to your path, and our job is to show you the options that can help you reach your goals. As fiduciaries, your interest is always placed above our own.