How Our Advisors help Women Retire with Confidence and Ease

I will never forget the day my second son was born.  

It had been a long autumn day, and as I settled into my warm bed and began to doze, I felt my wife shaking my arm. I rose groggily, grabbing the duffel bag we’d packed for the hospital. 

As I shook off my sleep, my wits were still dim- But it occurred to me that labor was already in very high gear. 

Despite my encouragement to get in the car, my wife went to the bathroom to lie down. It was obvious things were moving very quickly, but I was surprised when she said we wouldn’t make it to the hospital. Suddenly, it dawned on my sleepy brain that we would deliver our son, on our own, ready or not.     

Retirement is a big transition with its own challenges. Anyone thrust into managing their finances on their own when retiring faces an even bigger ordeal, ready or not.  

Women face a unique set of challenges when they reach the end of their working years. Unfortunately, the people around them don’t really understand. 

Today we’ll take a deeper look at these challenges and how they affect a single woman’s money.  We’ll also look at how single women can successfully navigate these changes and seek to secure their financial future with confidence and clarity. 

Who We Serve

Imagine a woman nearing retirement who, since the passing of her father, feels lost in the world of financial decisions. Perhaps her father was her trusted advisor for everything from investments to managing her home, and now, as she approaches retirement, she feels the weight of financial uncertainty. This scenario is not uncommon. Our ideal clients are often women who find themselves at a crossroads, transitioning from relying on family members or outdated financial strategies to seeking professional guidance.

We do our best work with these women—those who need support in understanding and managing their finances as they move into retirement. They come to us with a variety of financial resources, including outdated IRAs, long-standing 401(k)s, brokerage accounts, and Social Security benefits. Their primary concerns are managing these assets effectively and gaining the confidence to make informed financial decisions on their own.

How We Help

1. Building Confident Retirement Income

The transition from earning a regular paycheck to managing retirement income can be daunting. The comfort of regular full-time employment and paychecks is replaced by the challenge of ensuring a steady stream of income that aligns with your expenses. This shift can cause anxiety and uneasiness, as people worry about maintaining their lifestyle on the dreaded “fixed income.” 

We address this concern by creating a structured approach to retirement income, answering questions like: 

• Where should I withdraw my money from? 
• How much money do I need from my retirement accounts each month? Each year? 
• When do I draw on my various retirement accounts? Should I take from my 401(k) or Roth IRA first? 
• What age should I take Social Security? 

Answering those questions–and ultimately, building a retirement income structure you can feel confident in–is rooted in a strong financial plan, one that incorporates your hopes and goals for retirement. By understanding your regular, one-time, and long-term expenses, along with multiple other financial factors, we can model the various scenarios for spending in your retirement years. That helps us understand just how much you’ll need from your income and educates how we approach getting that income from what you currently have. 

There will likely be multiple scenarios to consider, whether it’s trimming back expenses to get more mileage from your money or determining multiple routes to reach the same goal. This in-depth planning ensures that your lifestyle is adequately funded and supported throughout your retirement years.

2. Creating Smart Financial Decisions

Financial decisions in retirement extend beyond simply managing income. They encompass a broad range of considerations including investments, taxes, and overall financial strategy. Making these decisions can be overwhelming, especially when navigating complex financial landscapes.

Our goal is to simplify this process. We assist our clients in making smart financial decisions by focusing on several key areas:

• Low-Cost Investments: We recommend lower-cost ETF funds and other investment vehicles that optimize returns while minimizing expenses.
• Tax Strategies: We employ effective tax strategies such as tax-loss harvesting and Roth conversions to enhance financial efficiency.
• Strategic Planning: We craft tailored financial strategies that align with our clients’ goals and resources, ensuring that their financial path is clear and purposeful.

By taking on the burden of these decisions, we enable our clients to focus on enjoying their retirement rather than worrying about financial details.

3. Uncovering Internal Financial Freedom

True financial freedom goes beyond external stability; it also involves internal peace and satisfaction. Financial well-being isn’t solely about numbers.  It’s about how people feel about their money and the role it plays

External Financial Freedom refers to achieving financial stability and security through prudent management of finances. However, Internal Financial Freedom involves a deeper sense of peace and satisfaction. It’s about feeling connected and at ease with one’s financial situation, regardless of the amount of money one possesses.

We help our clients achieve this alignment by:

• Addressing Emotional and Psychological Pain points: We guide clients in finding joy and purpose through their financial resources. This includes avoiding pitfalls like financial anxiety, blurry boundaries, and susceptibility to fraud.
• Creating a Sense of Purpose: We ensure that clients’ financial decisions support their personal values and happiness, rather than simply focusing on numbers.

Our ultimate goal is to provide relief and clarity, enabling clients to experience true joy in their retirement. By aligning their internal and external financial freedom, we help them live a fulfilling and satisfying life.

Wrapping Up

Our team of financial advisors and support staff is dedicated to empowering women in retirement by providing a foundation of financial planning, upon which they can make a solid transition. From building strong retirement income strategies to helping clients make smart financial decisions, we can help uncover internal financial freedom. 

If you’re navigating the complexities of retirement and are seeking external help, I’d encourage you to reach out to us to schedule a no-cost consultation. We’re here to support you in making you feel good about your money.

About the Author

Clinton Miller, CFP®, is an investment advisor & financial planner with an educational background in mathematics.  He enjoys making tax planning relevant for clients so they can make confident money decisions. 

He and his wife Aubrey are based in Canton, OH & have two sons.  In his spare time, he enjoys fishing, chainsaw repair, & mucking around in the woods.