It’s never too early (or too late) to start planning for a financially secure future. Whether you’re just starting your career or already envisioning your dream retirement, Sterling Adams Wealth Management is here to help you build a solid path to financial independence and peace of mind.
Overview of Retirement Planning
Retirement planning is about creating a long-term financial strategy that ensures you can enjoy life after work without financial worries. This planning goes beyond saving, it’s about shaping a future where your hard work pays off, allowing you to maintain the lifestyle you want, pursue your interests, and feel confident in your financial security.
In the United States, most people retire around age 64, but studies show that nearly half of them feel unprepared for retirement. Even with Social Security benefits, which average about $1,800 per month, many find it challenging to cover their needs and maintain their desired lifestyle without additional savings. In fact, nearly 40% of Americans risk outliving their retirement savings, which can lead to financial stress and difficult decisions later in life.
That’s where early and thoughtful planning can make a life-changing difference. By setting clear goals, strategically saving and investing, and adapting your plan as life changes, you can ensure that your retirement years are everything you envision. Starting early allows you to leverage the power of compound growth, giving your money more time to accumulate and work for you. And even if you’re starting later, focused, strategic planning can still make a substantial impact on your financial future.
Why Retirement Planning Matters
Retirement planning is more than just saving money, it’s about securing the life you want long after your working years. A well-structured retirement plan offers meaningful benefits that can transform your future:
Financial Security
A strong retirement plan provides the peace of knowing that, even as you transition out of your career, your income will continue to support you. This planning helps you avoid future financial stress by setting aside what’s necessary to cover daily living expenses, healthcare, travel, and anything else you’ve envisioned for this chapter of life.
Freedom of Choice
Imagine being able to retire on your terms—whether that means traveling the world, diving into new hobbies, or simply spending quality time with loved ones. Retirement planning gives you the power to shape this future. You won’t be limited by financial constraints, and you’ll have the freedom to choose how you spend your time based on your vision, not your budget.
Tax Savings
Retirement planning can also offer major tax advantages. With a strategic approach, you can minimize your tax burden by taking advantage of tax-advantaged accounts, such as 401(k)s, and IRAs;, as well as various tax breaks. This allows you to keep more of your money and stretch your savings even further.
The Advantage of Starting Early
The earlier you start planning for retirement, the more flexibility and freedom you’ll gain. When you begin saving and investing early, you’re harnessing the power of compound growth, giving your money more time to increase in value. This can make a significant difference in helping you reach your goals, even if you start with small monthly contributions.
Speaking of early retirement, Sterling Adams Wealth Management offers a dedicated Early Retirement Planning Service designed to help you reach financial independence sooner. We work closely with clients who aspire to retire before the traditional retirement age, crafting tailored strategies to maximize savings, manage investments, and ensure a sustainable income for decades to come. Our early retirement plans focus on strategic wealth-building, minimizing tax impact, and providing a roadmap for early financial freedom.
Our Approach to Retirement Planning
Our approach to retirement planning is personalized and holistic. We know that no two people have the same retirement dreams or financial situations, so we start with understanding what matters most to you.
- Goal Assessment: We begin by talking about your vision for retirement. Do you want to travel, downsize, start a business, or enjoy family time? Together, we’ll establish goals and prioritize them to shape your plan.
- Financial Analysis: Next, we assess your current financial landscape—income, assets, debts, and expenses—giving you a realistic picture of where you are now and what adjustments may be needed to achieve your goals.
- Investment Strategy: Your investments should work as hard as you do! We’ll tailor an investment strategy that balances growth with risk, building a portfolio that’s designed to withstand market changes and align with your goals.
- Risk Management: Life is unpredictable, and we’ll help you prepare for the unexpected with insurance, healthcare planning, and emergency savings. Together, we can make sure you and your loved ones are protected.
- Income Planning: We’ll create a plan to ensure you have a steady, reliable income throughout your retirement years. This includes exploring Social Security, pensions, retirement accounts, rental real estate, and other income sources.
Who We Help
We offer flexible retirement planning services designed to meet the needs of:
- Early Retirees: Looking to retire years or even decades before the norm? We specialize in Financial Independence/ Retire Early (FI/RE) planning.
- Real Estate Investors: Real estate is considered a “passive” investment, but we real estate investors know it’s anything but passive. We help real estate investors nearing retirement make their rentals less of a headache by exploring options such as triple net (NNN) properties, DSTs, or even managing the properties for them through our subsidiary, Realty Management Advisors (currently available in the Hilton Head, SC region).
- Young Professionals: Get a head start on retirement with smart strategies to build wealth early in your career.
- Mid-Career Planners: Make the most of your peak earning years with strategies for growth and catch-up contributions.
- Near-Retirees: For those within 5–10 years of retirement, we’ll fine-tune your plan to maximize income, minimize taxes, and solidify your timeline.
- Business Owners and High-Net-Worth Individuals: We offer specialized planning to address unique tax strategies, business succession, and high-net-worth goals.
Why Choose Us for Your Retirement Planning?
At Sterling Adams Financial Planning, we’re here to help you build a retirement plan that gives you confidence, freedom, and financial security for the years ahead. Whether you’re looking to start saving, optimize existing investments, or create a custom retirement strategy, our team is ready to provide the guidance and expertise you need.
We pride ourselves on our client-first fiduciary approach—taking the time to understand your unique goals, values, and financial circumstances to create a retirement plan that’s truly personalized. With Sterling Adams, you’re not just getting financial advice; you’re gaining a trusted partner committed to helping you achieve lifelong financial success. Call us at 862-261-5195 to explore how we can help.
Frequently Asked Questions
What if I don’t know my retirement goals yet?
That’s perfectly okay! We’ll help you explore your vision, even if it’s just a rough idea. Goals change over time, and we can adjust your plan as you gain clarity.
How much does your service cost?
Our fees vary based on the complexity of your plan. We offer a transparent, no-obligation consultation where we’ll discuss costs based on your specific needs.
Can I still work with you if I already have some retirement savings?
Absolutely. We can help you refine your existing plan, analyze your portfolio, or even help you catch up if you feel behind.
When should I start planning for retirement?
There’s no “wrong” time to start, but the earlier, the better! Compound interest and early investments make it easier to reach your goals, even with smaller monthly contributions.
Contact Us
Get In Touch
862-261-5195
155 Pompton Ave, Suite 203-1, Verona, NJ 07044
angelo@sterlingadams-wm.com