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1. Know Where You Stand:
Now is the time to take stock. Fraser encourages individuals to either start or reassess their retirement plan annually. From evaluating future income sources to stress-testing portfolios, Allport emphasizes the value of personalized planning over generic online calculators.
2. Maximize Savings Opportunities:
Catch-up contributions are crucial. Fraser outlines the importance of maximizing contributions to retirement accounts like 401(k)s, IRAs, and HSAs—especially for those aged 50 and above. The 2025 contribution limits allow for robust savings during the final working years.
3. Optimize Your Social Security Strategy:
Understanding the nuances of Social Security can make a significant difference. Fraser Allport advocates for starting benefits asap to increase monthly income.
4. Use Tax-Smart Strategies:
Diversifying across tax-deferred, Roth, and taxable accounts can help reduce risk in retirement. Fraser assists clients in navigating Roth conversions, understanding tax brackets, and managing withdrawals to help minimize tax burdens.
5. Prepare for Healthcare and Long-Term Care:
Healthcare costs can be a major retirement expense. Fraser advises clients on Medicare planning, HSAs, and long-term care strategies. He helps individuals estimate their health expenses and understand Medicare and long-term care insurance.
6. Build a Reliable Retirement Income Plan:
Transitioning from saving to drawing down funds is one of retirement’s biggest shifts. Fraser assists with building income strategies that align with clients’ spending, lifestyle, and legacy goals—focusing on safety of principal and guaranteed lifetime income.
With Fraser Allport, clients receive an integrated and holistic approach to retirement that incorporates financial, tax, health, estate, and legacy planning. For anyone within 10 years of retirement, these six steps can provide a proactive and practical path forward.
About the Author
Fraser Allport is the Owner of The Total Advisor, LLC, based in Daytona Beach, FL. Fraser is also an Accredited Investment Fiduciary®, Certified Estate Planner™, and National Social Security Advisor®, with 43 years of experience. He provides Retirement, Estate, Medicare, Social Security and Tax Planning services throughout Florida, and across the U.S. Fraser offers in-person, phone, or Zoom consultations, as well as pro-bono on-site educational workshops for schools, corporations, and community organizations. Fraser empowers his clients to retire with confidence.
FRASER ALLPORT
The Total Advisor, LLC
+1 386-882-6256
email us here
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