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Later Retirement & Legacy

In the legacy years of retirement, maintaining your health and independence become key priorities, all while you look to preserve retirement income and thoughtfully de-accumulate assets over the rest of your life.

Later Retirement & Legacy

Planning for Your Legacy

After the mid-70s and beyond, retirees tend to focus on protecting retirement income, managing healthcare & long-term care expenses and updating their estate plan.
A spotlight on health and longevity may mean less energy spent on the financial aspects of life and more time on maintaining the lifestyle.

While you may not be as physically active as in earlier stages of retirement, many still experience a productive period of reflection, a joyful downsizing of assets, and aspirational planning of their legacy.

70's & 80's

Retirement Milestones

In the later years of retirement, it may be essential to ensure enough retirement income to cover living expenses and potential healthcare & long-term care costs. Retirement wealth management at this stage can involve reviewing and adjusting sources of income, such as by making RMDs or drawing down investments.

A happy retired grandparent playing with his grandchildren in a kitchen
A happy retired couple sitting at the dinner table together


Claiming Maximum Social Security Benefits

Increased Benefits after Full Retirement Age

If you delay claiming SSI benefits until age 70, you can receive the maximum amount based on your earning history.



Qualified Charitable Distributions

Minimize Taxes after RMD age with Gifting

Reduce your taxable income and the size of your taxable estate with QCDs, while making a difference for a nonprofit organization.

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Required Minimum Distributions Age

Withdrawals from Retirement Accounts

Start drawing down income from the traditional IRAs and 401(k)s you’ve accumulated and avoid penalties.

Our Services

Later Retirement Planning

In the later years of retirement, tax planning, comprehensive wealth planning and investment management trend toward thoughtful de-accumulation, which is a different than earlier retirement stages.

Here is just a sample of what you can expect when working with a retirement wealth advisor:

Tax Planning

Review tax exposure for different sources of retirement income (SSI, pension income, investment income) and coordinate the timing of RMDs and other withdrawals from retirement funds.

Investment Management

Preserving wealth for the next generation is the goal, including reducing risk in the portfolio by allocating more assets to less volatile investments such as bonds or cash.

Comprehensive Financial Planning

Review the longevity of income and adjust distributions from assets. Maximize benefits from government programs like Social Security and Medicare. Manage your healthcare and long-term care risks.

How Can We Help?

Talk to a financial advisor about what the later retirement stage or legacy years may look like for you. Get the tools & expertise you need to retire with confidence.

Our Approach

How We Work


Spend some time with us to discuss your current situation and retirement goals. If we agree that we are a good fit for each other, we will progress to the next step.


We will gather relevant information from you, construct a blueprint and review it with you to discuss how we can work together. We then review our service offering and agree on a path to move forward.


Time to start working together. We will deliver your Retirement Policy Statement, open accounts, transfer assets (as appropriate) and set up our technology infrastructure. Your retirement blueprint is put into action.


We begin our ongoing planning and investment management. We will establish our communication plans and schedule of activities with you, so you know what to expect going forward. We will also establish a regular schedule to review and monitor your finances, check your progress toward your goals and make any necessary adjustments along the way.

Ready to Work Together?

A retired grandpa playing in the pool with his granddaughter
Additional Services

Retirement Management

Explore the comprehensive spectrum of our retirement services tailored to meet your unique needs. Whether you are approaching retirement and seeking to initiate a thoughtful plan or navigating the optimization phase in your 60s and 70s, we have specialized offerings designed just for you.

Retirement Planning
50s & 60s

For individuals approaching retirement or in the early stages of their retirement journey, initiating a plan involves embracing a new lifestyle. This could involve reconsidering aspects such as careers, housing, travel, and education. It’s essential to allocate time for thoughtful contemplation, reflecting on the profound implications of this imminent, life-altering transition.

Retirement Implementation
60s & 70s

In this phase of retirement, individuals often prioritize optimization. This includes maximizing opportunities for bucket-list travel, enriching life experiences, maintaining health and fitness, and, naturally, securing and managing wealth. Retirees dedicate this period to organizing their financial affairs, addressing significant milestones as they arise.


Download our free checklist of 32 important issues you should really think about before you retire.


Download our free checklist of 32 important issues you should really think about before you retire.

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Life is full of financial milestones. We pay for college, we get married, we start businesses. But the most important financial decision we will ever make is when and how to retire. Milestone Money helps you map success to and through retirement.