GOLDEN YEARS, GOLDEN GAINS
A RETIREMENT RICHES ROAD MAP
Once you’ve reached the age where stepping away from your life’s work is feasible, it is essential to explore ways to make your retirement funds last as long as possible — a goal that involves more than just keeping your bills paid in your golden years. Here are three thoughts to help you move toward a comfortable, sustainable, and secure post-work life. Redefine the future. There are several ways to build a reliable retirement plan to ensure financial strength. First, consider whether your anticipated fund withdrawals align with your tax strategies. For example, a Roth IRA conversion could present opportunities to reduce your financial obligations if you anticipate reaching a higher income tax bracket later in life. At the same time, charitable giving could result in similar advantages. Balance benefits with needs. Factoring in your Social Security benefits is another way to determine your post-retirement financial health, but only if you carefully consider when you begin receiving them. Generally, you can begin claiming Social Security benefits between ages 62–70, and the age you choose to receive them determines the amount.
If you decide to begin receiving your benefits as soon as you turn 62, they will remain at the lowest amount available indefinitely. Full benefits kick in once you reach your full retirement age of 67, but delaying them until you’re 70 will add 8% to your annual income. Avoid the risks of restraint. Although patience comes with a payoff, you face a few dangers if you delay your Social Security benefits. For example, putting off receiving them could prevent you from having the funds necessary to address any unexpected medical situation. Additionally, waiting until 70 could have a negative financial impact on your significant other, as spousal benefits are capped when your partner reaches full retirement age under certain conditions.
As no two financial paths are the same, we encourage you to consult a financial advisor and/or estate planner to ensure the most comfortable retirement
and sustainable legacy possible.
MEET OUR NEWEST TEAM MEMBER: Sam Cook, Office Assistant
Since you are an important part of our Field Law Family, we are excited to share that we have a new team member, Sam Cook! Sam will be connecting with clients by phone and in our La Crescenta office on a schedule-only basis, assisting with document creation and providing office support to our team. Prior to joining our team, Sam worked in the food industry and as an assistant coach for the Hoover High School Varsity Girls’ Soccer Team! She also recently graduated from Utah Tech with her bachelor’s degree in psychology and human development. When discussing her studies, she shared, “It wasn’t easy, but it was definitely worth it!” Sam’s true purpose in life is finding new passions that motivate her, bringing happiness and comfort to her community, and making a difference in the world, whether big or small. Her bright mind and attention to detail help her fulfill this purpose as she uses those skills at Field Law. Of our Core Values, Sam resonates most with Freedom. “When I think of freedom, I think of individuality and expression, which have been important to my self-discovery and growth as a person for a long time.” She is eager to help our clients on their journey toward freedom and peace of mind.
dad is incredibly forthright and encouraging. He gives her direct advice, and his belief in her inspires her to grow every day. Her favorite movie is “Good Will Hunting” because “not only is it a great example of self-discovery, but it also shows the ability one has to conquer any challenge regardless of their environment or circumstance.” We are excited to have Sam as a member of our team and look forward to the ways she embodies our mission to empower families to live lives of freedom as she interacts with each of you!
Outside of work, she loves spending time with her parents. Her mom is incredibly supportive, and her love guides Sam through many tough challenges. Meanwhile, her
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