Retirement Planning Services

Retirement Planning Services in North and South Carolina

There’s nothing quite like knowing your finances are in check regarding retirement. Nowadays, it’s hard to live off of social security alone when the monthly payouts average $1,200 per month. There are many ways to ensure financial stability when you retire, and it’s good to start early to get ahead of the game so you can work towards retirement, and financial security for your future. Below you’ll find a list of services you should consider when planning for retirement.

What are Retirement Planning Services

TruNorth offers various resources and services to help you determine the right plan for you to achieve your financial goals. Our retirement advisors are dedicated to helping you understand your current financial status and can help you create a plan to maximize your finances and ensure you’re on the right track for retirement.

Income Planning

As you plan for retirement, it’s wise to plan on having other sources of income streams because you will no longer be able to rely on your job for income. During this planning stage, your financial advisor can work with you to plan different strategies to start investing in other sources outside your current job income that can help grow your money over time. Investment sources like social security, fixed annuities, and pensions are a few examples of how you can use your money to invest in your future.

Investment Management

Investment management has everything to do with developing your financial plan, evaluating your goals, and discovering how comfortable you are with risk. Once you understand your plan and your needs, it’s important to stay on track and start working towards completing each milestone. You’ll start by looking at your finances and discovering where you have extra money and how to save that money to then invest in your retirement plan to have that money grow. Managing your finances means you have a road map to your future set, and you’re working towards making smart investment decisions, helping you achieve your retirement plans.

Legacy Planning

Legacy planning is all about transferring your assets to your loved ones or whomever you want your assets to go to after your death. Without a plan, transferring your assets can get legally messy. Without a planned-out beneficiary of your choice, the courts will assign an administrator to handle your finances and divvy out who gets what. This can then become a huge burden on your loved ones, and your assets may not be passed down to the people you want them to go to.

Risk Management

TruNorth can help you understand the risks when it comes to planning for retirement. Below are a few tips about what qualifies as risk and how you can plan for it.

  • Through a third-party organization, a complete audit of insurance will be conducted. The third party can then work with us to discover how much risk you have with your investments like auto, home, and liabilities. What is risk? Risk is uncertainty about your investments that has the potential to impact your financial status in a negative way.
  • Long-term care analysis. This analysis is a service provided to meet a person’s overall health and personal care needs for an extended period of time. Everyone ages, and with age, it gets harder and harder to perform daily activities. Planning for your long-term care is important to make sure you are taken care of as you get older.
  • Life insurance benefits. This can replace your income for years of lost job salary and can also assist you in paying off your home mortgage and debt.
  • Medicare needs. Medicare is federal health insurance that most people can qualify for at the age of 65 years old.


Tax Planning

Understanding how taxes works, in general, is a good way to invest your time, but it can be crucial when you’re setting up and beginning your retirement planning journey. If you aren’t careful, you could hurt a large part of your income and savings. Our financial advisors can help you understand how retirement tax works and determine tax-saving strategies that can lower the amount of taxes you pay. Here are a few examples:


  • If your employer has a 401k option, contributing a set amount of money towards this can lower your income tax.
  • A Roth IRA is an incredible resource that can save you money tax-free.
  • Delay withdrawing from your 401k because you can be penalized for withdrawing early.
  • Make catch-up contributions. Catch-up contributions are applicable to those who are starting their retirement plan later at the age of 50+.

Why Should I Plan for Retirement?

The future is a long way away, and many people tend to think that they’ll have plenty of time to think about retirement later. What some don’t realize is that retirement creeps up on you, and if you haven’t taken the necessary actions to plan for retirement, you’ll start to scramble and can stress about not being prepared and financially secure to quit your job and retire. Social security is typically not enough to live off of, and you likely don’t want to work until you die. What’s going to cover your mortgage, food, clothes, and lifestyle you’ve developed over the years? Social security typically does not cover even half of those costs. Planning for the future now and starting your retirement journey can give you more peace of mind as you continue living your life.

Benefits of Retirement Planning Services

Many benefits come with starting your retirement plan. Mentally you can be in a better place, knowing that your financial future is more secure. It can allow you to live a more frugal life and take those vacations you want to take because you know you’re already saving and your money is growing on its own. You can have a higher sense of freedom, and it can help you prepare for unexpected circumstances.

When Should I Start Planning for Retirement?

Now. Typically the longer you wait, the less money you’ll make, and the sooner you start, the more money you’ll grow, securing a better future. Start now and meet with one of our financial specialists to create a custom retirement strategy for you.

Retirement Planner in North and South Carolina

Meet with TruNorth Advisors today! We’ll help you create your road map to retirement and evaluate your current financial status to determine what retirement plan is right for you. Contact us now.