A Personalized Approach to Planning Your Retirement
Retirement is one of the most important goals you can have.
And there is no one-size-fits-all approach — it depends on your vision for this stage of your life.
Discover, step by step, how your J.P. Morgan Private Client Advisor draws upon the full resources and expertise of J.P. Morgan, to offer you a customized plan and an array of investment strategies that are tailored to your needs, time frame and risk tolerance.
Defining Your Future
The first step in our disciplined approach helps you solidify your retirement objectives. Your vision might include spending more time with family, travel or the pursuit of any number of life passions.
A conversation with a J.P. Morgan Private Client Advisor can help fine-tune your priorities and goals, backed by some of the most comprehensive, well-researched thinking about retirement today.
Planning with a Holistic View
Our approach to your retirement is based on a deep understanding of your financial life. Not only do we take into account other important financial goals you may have in addition to retirement, such as paying for a child's education, or buying a vacation home, we also account for the changing and evolving variables of retirement — some of which you can control and others you may not be able to control, but can prepare for.
Factoring in Retirement Variables
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Savings & Spending
Saving is the single most important factor in planning for retirement. The earlier you start, the better you can benefit from compounding and maximize the amount you save over time. We work with you to review and optimize your savings and spending rates, to help you align with how much you will need in retirement.
Maximizing the benefits of your employer–sponsored plans such as 401(k), 403(b) or 457, and tapping into other tax-advantaged plans such as IRAs and small business retirement plans is one of the best ways to accumulate retirement savings. By undertaking a review of your tax-advantage and your taxable portfolio, we help you allocate your assets in the most effective manner.
Taking a balanced approach to investing helps manage portfolio risk. We review your portfolios annually, which can help account for economic trends, investment performance and change in goals/objectives.
Longevity & Retirement
While no one knows how long they'll live, if you're in good health, have longevity in your family and live a healthy lifestyle, there's an excellent chance that you or your spouse could live to 90 or beyond. Together with a J.P. Morgan Private Client Advisor, we can help you plan for these extra years.
Performance of Financial Markets
Over time, markets have historically built wealth but they have also experienced volatility. While you can't control the performance of the market, we can help you determine an asset allocation strategy that takes into account your comfort level with risk, how long you have until you retire and what your goals for retirement are.
Claiming Social Security
It is important to look at when it may be best to claim your social security benefits. For example, you may receive your greatest benefit if you wait until you are 70. We help you understand which strategies could help maximize your lifetime benefits.
An overly conservative investment approach can hurt you over time if your investments don't keep up with inflation. We can show you how to stay diversified to help overcome the effects of inflation that could erode your purchasing power.
Increasing Healthcare Costs
Although estimates of future healthcare costs continue to change, it is important to include potential medical expenses in your retirement planning on a personalized basis.
Calculating Your Retirement
Use our in-depth Retirement Calculator to evaluate your financial situation and determine if you're on track to meet your retirement goals.
Knowing where you are today is the first step toward planning for the future. Take a few minutes to get started now to see the progress you've made with your current retirement savings and investment approach.RETIREMENT CALCULATOR
Answers from J.P. Morgan
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When Should I Take Social Security?
Taking Social Security as soon as you're eligible, at age 62, may be tempting — but it can result in less retirement income for you in the long run. Waiting may be the best option — but your circumstances are unique. Come in and let us help you consider various scenarios to help you determine the best timing for your situation.
What should I do with my 401(k) upon retirement?
The short answer is, it depends. Depending on your age, you may face penalties, or there may be tax consequences if you cash out of your 401(k). Don't do anything until you talk to a Private Client Advisor who can explain your options and help you develop a strategy to make the best decisions about how and when to take distributions from your qualified plan.
How should health care factor into my retirement plan?
With healthcare costs rising two to three times faster than the cost of inflation, you'll need to consider how they may impact your standard of living in retirement. How much you'll need may depend on when you retire, how long you live, your overall health, and the cost of medical care in your area. Your J.P. Morgan Private Client Advisor can help you evaluate your assumptions and adjust your plan as necessary to account for higher potential expenses in retirement.
As the global economy continues to evolve, J.P. Morgan offers unique insights about the economic and social challenges our clients and the industry are facing now and in the future.
Max Out. Don't Miss Out.
Five strategies for getting the most from your IRA.Read More about Five strategies for getting the most from your IRA.
Generational Perspectives on Money
Boomers & Millennials Meet in the MiddleRead More about Generational Perspectives on Money
Feel confident about your future
Making small adjustments to your plan today may have a substantial impact on tomorrow. Working with your
J.P. Morgan Private Client Advisor, you can make changes as your life and goals evolve.
Prepare for the growing
cost of higher education
How do you balance saving for a child’s education with other current and future goals? Your J.P. Morgan Private Client Advisor can help develop a strategy that makes sense for you.LEARN MORE
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