Retirement planning for people age 50+
Retirement Planning
Retirement is not one decision. It is a series of connected choices about income, taxes, investments, Social Security, healthcare and the life you want after work. A clear plan helps you see how those choices fit together.
The initial process is designed to help you and Fairchild Capital determine whether working together may be a good fit.
A plan for decisions—not just investments
What should retirement planning actually do?
Retirement planning turns the resources you have accumulated into a practical strategy for the years when a paycheck becomes optional—or disappears altogether.
Before retirement, the central question is often whether you have enough and what needs to happen before you leave work. After retirement, the questions shift: where should income come from, how much can you reasonably spend, how should taxes be managed and how should your portfolio support both today and the years ahead?
These decisions should not be made independently. Claiming Social Security can change how much must come from investments. A large retirement-account withdrawal can affect taxes and Medicare costs. Holding too much investment risk can expose near-term income to market declines, while holding too little can make it harder to keep pace with a long retirement.
The short answer
A useful retirement plan should tell you what appears possible, which assumptions matter most, what decisions need attention now and what could require an adjustment later. It should be understandable enough that you know why each recommendation fits your situation.
Retirement planning is most valuable when the decisions overlap
You may be able to calculate a Social Security estimate, investment return or tax bill separately. The harder—and more useful—work is understanding how one choice affects the others across your household and over time.
The decisions beneath the numbers
Four questions every retirement plan should answer
Can you afford to retire?
Compare expected spending with Social Security, pensions, savings and investment withdrawals across different retirement dates. The result should show both what appears workable and where the plan is sensitive.
How will you replace your paycheck?
Identify which income sources cover essential expenses, which assets provide flexibility and how cash will be available without making every month dependent on current market conditions.
How might taxes affect the plan?
Review the timing and character of income from retirement accounts, taxable investments, pensions and Social Security. Tax planning should consider multiple years—not simply this year’s return.
What could knock you off course?
Test market declines, inflation, healthcare costs, longevity, major purchases and the loss of a spouse. A plan cannot eliminate uncertainty, but it can reveal where more flexibility or protection may be needed.
Have savings, accounts and benefit estimates—but no clear retirement decision?
Fairchild Capital can help organize the moving parts into one understandable plan.
The pieces that need to work together
What comprehensive retirement planning covers
The exact scope should reflect your needs and the advisory service you select. For many households approaching retirement, the following areas are closely connected.
Retirement income
Coordinate Social Security, pensions, retirement accounts, taxable investments and cash so you understand where spending money may come from throughout retirement.
Tax planning
Evaluate withdrawal order, realized gains, charitable giving, Roth conversions and other decisions for their potential multi-year tax effects. Implementation should be coordinated with a qualified tax professional.
Investment management
Align diversification, liquidity and investment risk with the income the portfolio may need to provide. The investment strategy should serve the plan rather than exist separately from it.
Social Security
Compare claiming ages in the context of life expectancy, employment, household cash flow and possible spousal or survivor benefits. Delaying can increase a future benefit but requires other resources in the meantime.
Healthcare and Medicare
Plan for coverage before Medicare, enrollment decisions and ongoing healthcare costs. Income decisions can also affect income-related Medicare premiums, so healthcare and tax planning should communicate.
Estate coordination
Review beneficiary designations, account ownership, legacy priorities and whether legal documents still reflect your wishes. Estate documents and legal advice should come from an appropriate attorney.
Contingency planning
Consider long-term care, insurance, emergency reserves, concentrated assets and what happens financially if one spouse dies first or circumstances change unexpectedly.
A Roth conversion may reduce future tax-deferred balances but create taxable income now. Delaying Social Security may increase a future monthly benefit but require portfolio withdrawals first. Reducing investment risk may limit losses but also reduce growth potential. Good planning explains both sides before a decision is made.
Planning should change with you
What to focus on at each stage of retirement
Retirement planning is not finished when you select a date. Different decisions become more important as you move from earning and saving to withdrawing and adapting.
Test the destination
Estimate spending, compare retirement dates, strengthen savings, review debt and determine whether the portfolio is positioned for the transition ahead.
Prepare the transition
Confirm benefit estimates, healthcare coverage, Social Security choices, cash reserves, employer benefits and the first source of retirement income.
Build the new paycheck
Coordinate withdrawals, taxes and investments while actual spending patterns become clearer. Revisit the plan if markets, health or family priorities change.
Maintain and simplify
Manage required distributions, beneficiary and estate changes, healthcare needs, charitable goals and the practical financial needs of a surviving spouse.
Retirement rules and government benefits change. Use current information from the Social Security Administration, Medicare, the IRS and your qualified professionals before implementing a strategy.
Your retirement plan should remain useful after your final day of work.
Build a framework that can be reviewed as markets, laws, spending and your life change.
The Retirement Destination Roadmap™
How Fairchild Capital begins the planning relationship
Fairchild Capital uses a three-step process to understand your situation, examine the central retirement questions and help both sides make an informed decision about working together.
Initial phone meeting
Discuss your goals, concerns and financial circumstances. This conversation helps determine whether Fairchild’s retirement focus and relationship may fit what you need.
Detailed planning conversation
Meet virtually or in person to clarify where you want to go, what resources you have and which retirement decisions require closer analysis.
Plain-English assessment
Review Fairchild’s findings, ask questions and decide whether you want to engage the firm for financial planning, investment management or a comprehensive relationship.
Who may be a fit?
A conversation may be useful if you…
- Are age 50 or older and approaching retirement
- Recently retired and need a coordinated income plan
- Want help connecting investments with taxes and spending
- Prefer plain-English explanations and individualized guidance
- Value an ongoing planning relationship
It may not be the right fit if you…
- Only want a stock tip or product recommendation
- Expect guaranteed returns or retirement outcomes
- Only need a quick answer with no broader analysis
- Do not want to share the information required for planning
Fairchild Capital’s current Form CRS describes standalone financial planning and a comprehensive service combining financial planning with portfolio management. The firm’s compensation comes from advisory fees rather than product-sales commissions. It reports no minimum account size or investment amount, although minimum fees may apply to the comprehensive service. Review the current Form CRS for important information about services, fees, costs and conflicts.
Related retirement-planning resources
Explore retirement planning for Portland-area residents, people in Bend and Central Oregon, and Oregon PERS members.
Common questions
Retirement planning: frequently asked questions
What is retirement planning?
Retirement planning is the process of evaluating whether your income, savings, benefits and investments can support your expected spending and goals after work. It commonly includes retirement income, taxes, Social Security, Medicare, investment risk, estate coordination and contingency planning.
When should I start planning for retirement?
Starting several years before retirement can provide more time to adjust savings, taxes, investments, debt and benefit decisions. Planning can still be valuable immediately before retirement or after retirement when income needs, markets, health or family circumstances change.
How do I know whether I can afford to retire?
Compare expected spending and taxes with Social Security, pensions, savings and potential investment withdrawals across a range of scenarios. The analysis should account for inflation, longevity, market risk, healthcare and irregular expenses. A projection is not a guarantee, but it can show what appears sustainable and which assumptions matter most.
How much money do I need to retire?
There is no single number that works for everyone. The amount depends on spending, retirement age, guaranteed income, taxes, healthcare, longevity, investment risk and legacy goals. A household-specific cash-flow analysis is more useful than a universal savings multiple.
Does retirement planning include investment management?
It can, but the services vary by adviser and engagement. Fairchild Capital’s current Form CRS describes standalone financial planning as well as a comprehensive service combining financial planning and portfolio management. Ask which service, monitoring and fees apply to your situation.
Does retirement planning include tax advice?
Retirement planning can evaluate how withdrawals, conversions, gains and income sources may affect taxes. Individualized tax advice and tax-return preparation should be coordinated with a qualified tax professional. Tax laws can change and depend on individual circumstances.
Should I claim Social Security as soon as I retire?
Not necessarily. Your retirement date and Social Security claiming date do not have to be the same. Claiming decisions can depend on age, health, employment, household cash flow, life expectancy and possible spousal or survivor benefits. Delaying may increase a future benefit but requires other income in the meantime.
How often should a retirement plan be updated?
Review the plan regularly and whenever a material change occurs, such as retirement, a move, a market decline, a tax-law change, a death, a health event or a significant change in spending. The appropriate frequency depends on the complexity of the household and advisory relationship.
How should I choose a retirement planner?
Ask about the planner’s retirement experience, services, compensation, fees, conflicts, credentials and communication process. Review Form CRS and Form ADV, and verify the firm or professional through Investor.gov before hiring anyone.
What happens during Fairchild Capital’s first call?
The initial phone meeting is an opportunity to discuss your goals, concerns and financial circumstances. It helps you and Fairchild Capital decide whether continuing through the Retirement Destination Roadmap™ process makes sense.
Take the next step
Get clearer about when you can retire—and how retirement may work.
An initial conversation can help identify the questions that deserve closer analysis and whether Fairchild Capital may be the right planning relationship for you.
