A Change in Our Brand and Planning in Early Phases of Retirement

In advance of our second client story, I wanted to announce a small change to our brand.

In addition to the great ideas I get from our fantastic team, I get several from my wonderful wife. Wendy Helen indicated that she liked the name Gary Alpert & Associates, but that the name made it hard to tell how we help people.

Over the next couple of months, you will notice our name changed to Gary Alpert Financial Strategies. Other than our brand presentation and a small adjustment to our logo, nothing will change about our firm. Our services will continue to expand as we try to find more ways to help you make excellent financial decisions.

Our second client profile is about a couple in the early phases of retirement.

One spouse is no longer working, while the other is earning a good income while working part-time.

They are both currently drawing on Social Security.

The challenge is that up to 85% of Social Security benefits can be taxable if a couple’s combined income is high enough.

Our suggested solutions included the following:

  • Have the working spouse contribute almost half of her W2 income to a traditional 401K for as long as she continues working. In doing so, the couple was not only reducing the amount of their income subject to taxes, but they were simultaneously reducing the amount of their Social Security subject to taxes. The tax savings should be significant.
  • When the working spouse retires, we have constructed a plan by which they would withdraw only what is required by the IRS from their retirement accounts with the rest coming from their non-retirement accounts. We constructed their investment portfolio to allow for this mix of distributions.
  • As a result, they swapped a significant tax obligation in the present for a much lower one in the future.

Our motto is “we can help you with that.” We will collaborate with you on any financial decision you make, engaging other subject matter experts when necessary.

We encourage you to reach out to us for assistance making important financial decisions and we always appreciate you recommending us to others.

Gary Alpert

  • Any examples given are for illustrative purposes only and not meant to provide specific advice or recommendations for any individual. We strongly recommend you consult a qualified professional regarding your specific situation.

LPL Financial and Gary Alpert Financial Strategies do not offer tax advice or services.