Retirement Planning
As retirement nears, the questions get sharper. Will your savings be enough? How do healthcare costs fit in? What if inflation erodes your purchasing power? A well-structured plan replaces guesswork with informed decisions — so you can maintain your lifestyle and prepare for what’s ahead.
Schedule a CallWhat is retirement planning?
Retirement planning is organizing your finances to support how you want to live after your working years. It’s more than saving money — it’s a strategy to turn those savings into reliable income, account for taxes, prepare for medical costs, and make your assets last. At its core, it’s about aligning your money with your life.
Income strategy
Planning how and when to draw from each source — Social Security, pensions, and your portfolio — so they work together as one reliable paycheck.
Tax management
Identifying opportunities to manage the tax liability on withdrawals and distributions, from Roth conversions to bracket management and charitable giving.
Healthcare considerations
Factoring in Medicare, supplemental insurance, and potential long-term care needs, so a health surprise never derails the plan.
Investment allocation
Adjusting your portfolio to reflect your time horizon and comfort with risk — growth where you have time, stability where you need income soon.
Rethinking risk
As retirement approaches, protecting what you’ve saved matters more than chasing returns. We help you adjust your mix and build reserves thoughtfully.
Legacy & family goals
Downsizing, travel, helping kids and grandkids, charitable giving — we quantify what’s possible so the plan reflects the life you actually want.
Why planning matters now
Waiting to plan can limit your options. Without a clear direction, it’s easy to miss opportunities — claiming Social Security too early, overpaying taxes, or investing too conservatively or too aggressively. Even small missteps compound over a long retirement.
Starting earlier buys flexibility: assessing when a downsize or relocation could work, knowing how much discretionary income is available for travel or supporting adult children, or structuring a legacy for grandchildren and causes you care about.
For couples in their 50s, this is the key window — projecting income needs, aligning on when each partner retires, and fitting Social Security and pension benefits together while there’s still time to adjust course.
How a financial advisor helps
A good advisor doesn’t hand you a one-time report — they become a long-term resource, revisiting the plan as your health, spending, and tax laws change, and acting in your best interest throughout. In practice, that looks like:
- Coordinating retirement income sources so Social Security, investments, and other streams work together efficiently.
- Shifting investments gradually as retirement nears, so your portfolio reflects your timeline and priorities.
- Reviewing tax strategies, such as Roth conversions and tax-efficient withdrawal sequencing.
- Planning for healthcare costs in a way that doesn’t disrupt your lifestyle or deplete your savings too quickly.
Your first meeting: questions worth asking
The first conversation is about learning, not committing. Come with questions — they open the door to a meaningful planning experience:
What income will I have in retirement — and will it be enough?
How can I reduce taxes on my withdrawals?
What role will my investments play once I stop working?
Are we prepared for healthcare costs or long-term care?
Whether you arrive with detailed spreadsheets or are just starting to think about retirement, we break things down clearly, avoid jargon, and work at your pace.
Turning savings into a paycheck is its own discipline
Once the plan is built, the next question is how to draw from it — safely, tax-efficiently, and without selling at the wrong time. That’s our retirement income planning work.
Schedule a CallHow it works
Share a little about yourself
Our process starts with getting to know each other. Share a bit about your situation on a short intake form so we can see if there's a potential fit before anyone invests a lot of time.
An introductory conversation
Next up is a relaxed phone call—no pressure, no pitch deck—just a conversation to hear what's on your mind, answer your questions, and make sure we're pointed in the same direction.
If we're both a yes
When it makes sense to keep going, we'll walk through what working together looks like—how we'd organize your financial life, stay proactive, and help you feel confident about the decisions ahead.
Where we work
We serve clients in person and virtually. If you're nearby, we'd love to meet in person at your home or at our office. Many of our clients are located in Naperville, Lisle, Geneva, Chicago, Wheaton, West Chicago, St. Charles, Glen Ellyn, and Winfield.
Frequently asked questions
Heritage Wealth has been serving clients for over 30 years, providing comprehensive financial planning, investment management, and tax services to families approaching and in retirement.
We charge a flat percentage of the assets we manage only on the first $2M invested. Anything above that, and your fee is capped. Tax planning, preparation, and filing are included in our fee. We believe this is extremely fair to our clients.
Your accounts are held at a third-party custodian, not with Heritage Wealth directly. This provides an additional layer of security and transparency for your investments.
We schedule regular check-ins throughout the year to review your plan, discuss any changes in your life, and make adjustments as needed. Most clients meet with us quarterly, but we're always available when you need us.
Yes! Tax planning, preparation, and filing are included in our fee. Our in-house CPA and Enrolled Agents will prepare and file your return. If you already love your accountant, we'll collaborate with them and discount your Heritage fee accordingly.
Yes, Heritage Wealth is a registered investment adviser and we operate as a fiduciary. This means we are legally required to act in your best interest at all times.