Retirement Made Clear

Your Retirement Journey Begins Here

At Clarity Financial Solutions, we specialize in guiding individuals and couples who are nearing or in retirement through a comprehensive financial planning process.

Our philosophy is centered around addressing the unique needs and challenges that arise during this critical life stage. Our goal is to create a roadmap that ensures your financial security, peace of mind, and enjoyment of your retirement years.

Retirement Income Strategies

Our planning focuses on ensuring a stable and sustainable income stream throughout retirement, incorporating Social Security, pensions, and guaranteed lifetime income sources.

Estate Plans

We help you create a comprehensive estate plan that preserves your wealth for future generations and minimizes tax implications.

Required Minimum Distribution (RMD) Strategy

We provide guidance on RMDs, ensuring you take distributions from retirement accounts in the most tax-efficient manner.


Holistic Retirement Planning

Our primary focus is on holistic retirement planning, where we take into account various critical elements to secure your financial future:

Retirement Plans

We work closely with you to develop personalized retirement plans that align with your lifestyle and aspirations.

Social Security Maximization

We analyze your Social Security options to ensure you receive the maximum benefits you're entitled to, enabling a financially comfortable retirement.

Healthcare Cost Management

We help you navigate the complexities of healthcare costs in retirement, ensuring your savings are protected from unexpected medical expenses.

Guaranteed Lifetime Income

We emphasize the importance of guaranteed lifetime income sources to cover your essential expenses, shielding you from market volatility and unexpected financial stress.

Navigating Retirement Plan Distributions

Retirement distribution planning involves deciding when and how much to withdraw from retirement accounts for tax efficiency and covering various expenses. Understanding distribution rules for employer plans and IRAs is crucial for making informed choices and securing your financial future and helps ensure that:

  • Your money will last the rest of your life

  • You’ll have as little income tax as possible

  • You avoid Medicare Premium fees and surcharges

The Required Minimum Distribution (RMD) for retirement accounts is the minimum amount you have to withdraw from your account each year. Different types of accounts may have different minimum withdrawal amounts, but the IRS stipulates that you have to take out a certain amount of money each year. You can draw out more than the minimum if you choose.

To determine the required minimum distribution on your retirement accounts, divide the year-end balance of the account by the Life Expectancy Factor from the IRS Uniform Lifetime Table. However, if you’re married, the amount will change depending on whether your spouse is the primary beneficiary for the account and depending on whether they’re more than 10 years younger than you. An age difference of more than 10 years is the threshold where the RMD changes.

Your Medicare premiums for Part B and Part D are calculated on your annual income. The distributions from your retirement accounts can count as part of your annual income, so if you don’t properly manage the distributions, you could end up bumping yourself up a bracket and paying more per month for the same coverage.

A Roth IRA conversion can be a great way to increase your retirement benefits. For example, if your income taxes go up, either because you’re earning more or because tax rates overall increased, then Roth IRA accounts can help save you money on your taxes over the course of several years.

Although there is no up-front tax deduction for contributions to your Roth IRA, the earnings and interest from the account are tax-free. Once you pay the taxes on the amount that you contribute to the account, then, assuming that you take the RMD later, your money will be tax-free in the future. Determining whether you should convert your 401k to a Roth IRA or if you should open a Roth IRA and contribute to it on your own is an important conversation to have with your financial planner.

Some people may still be working at 65 and may be covered under their employer’s health care plan. If you or your spouse receive coverage for yourselves through an employer-sponsored health plan, then you may not need to enroll in Medicare right when you turn 65. You may be able to wait to sign up until you or your spouse stop working or you lose health insurance coverage, whichever will come first. How you receive your health insurance determines when and if you need to sign up for Medicare right away.

If you’re self-employed or have different health insurance that isn’t available to everyone at your company, then you may need to sign up for Part B when you turn 65 to avoid a late penalty. If you receive COBRA health insurance coverage, then you’ll need to sign up for Medicare when you turn 65 to avoid gaps in your coverage.

While there are no guarantees, smart financial planning and a structured plan for retirement distributions can help ensure that the savings you worked so hard for aren’t eaten up by income taxes or withdrawal penalties. First, have a conversation with your retirement planner about the RMD for each of your accounts. If you have certain health conditions that run in your family, for example, ensuring that you have enough for medical bills is an important consideration.

You may also wish to keep investing your retirement savings so that you’re earning interest and passive income from the investments. Putting off retirement for a few years may also be a consideration.

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