Is Your Retirement Plan As Unique As You Are?

By George P. Jackson, MBA, CPA, CFA, CFP®, CMT, CLU, ChFC

When most people think about retirement planning, they picture an investment account, a target balance, and perhaps a Social Security estimate. But retirement planning is so much more than simply saving a lump sum. Effective retirement planning is about creating a strategy that matches your specific needs, values, and goals.

Unfortunately, many retirement plans are built using broad assumptions and generic models. While these can provide a starting point, they often overlook the critical elements that make a plan uniquely yours. There are five particular areas that deserve careful attention: distribution planning, longevity risk assessment, income tax planning, estate settlement, and estate tax planning.

1. Distribution Planning: Turning Assets Into a Reliable Paycheck

Accumulating wealth is only part of the retirement planning process. Figuring out how to spend it efficiently is the key to making your plan a reality. Distribution planning addresses:

• Which accounts to draw from first (taxable, tax-deferred, or Roth)
• How to coordinate withdrawals to maintain steady income while minimizing taxes
• Adjustments for market conditions so your plan can withstand downturns

A well-crafted distribution strategy helps ensure your retirement income is consistent, flexible, and sustainable for decades.

2. Longevity Risk Assessment: Planning for the “What if I Live Longer?” Scenario

Today’s retirees are living longer than ever, with many spending 25-35 years in retirement. While longevity is a blessing, it also increases:

• The risk of outliving your assets
• The need for inflation-adjusted income
• Exposure to long-term healthcare costs

Consider how many years those assets will need to work for you. Build conservative, long-term projections to create a safety net for your future self. 

3. Income Tax Planning: Keeping More of What You’ve Saved

Your retirement withdrawals could be taxed at different rates depending on the source of funds and your income level. Without proper planning, unnecessary taxes can erode your nest egg faster than market volatility.

Strategic tax planning includes:

• Coordinating withdrawals with Social Security and pension income
• Timing Roth conversions for maximum advantage
• Managing required minimum distributions (RMDs) efficiently

The goal is to minimize lifetime taxes, not just this year’s tax bill.

4. Estate Settlement: Making Life Easier for Your Loved Ones

Retirement planning should also include preparing for the smooth transfer of your assets upon your passing. Without a clear estate settlement plan, your family may face:

• Delays in probate
• Confusion about your intentions
• Disputes among beneficiaries

A thoughtful estate plan uses wills, trusts, and beneficiary designations to carry out your wishes with minimal stress for your loved ones.

5. Estate Tax Planning: Preserving Wealth for Future Generations

For higher-net-worth households, federal or state estate taxes can take a significant bite out of what you leave behind. Strategic planning can include:

• Lifetime gifting strategies
• Use of irrevocable trusts
• Charitable giving to reduce taxable estates

Even if your estate is not currently taxable, laws and exemption amounts can change; planning ahead provides flexibility.

The Overlooked Truth

Many people spend decades focused solely on saving but overlook the equally important question of spending wisely and transferring wealth effectively. A retirement plan that’s truly unique to you will coordinate all these elements into a comprehensive strategy—one that adapts over time and is built around your life, not generic formulas.

Your retirement is not a one-size-fits-all journey. Make sure your plan reflects that.

About Us

At Jackson Wealth Management, LLC, we work to cultivate trust intentionally through our actions, clear communication, and follow-through. That’s because we see building trust not just as a value, but as the foundation of every client relationship we’re honored to serve.

Ready to work with a financial partner you can trust through every market turn? Let’s start building that relationship today. Schedule a consultation today with our team by calling (407) 585-0235, emailing gj@jacksonwm.com, or booking online. Your future deserves a foundation of trust.

About George

George P. Jackson is the CEO and CIO of Jackson Wealth Management, LLC, based in Lake Mary, Florida. With over 33 years of experience in the financial services industry, George is passionate about making a meaningful difference in his clients’ lives through comprehensive, integrated wealth management. He specializes in helping clients make confident financial decisions by serving as their trusted “one-stop shop” for anything money related, from investments and retirement planning to taxes and estate strategies.

George obtained his Bachelor of Business Administration as well as his Master of Business Administration (with an emphasis in quantitative analysis) from University of Cincinnati. His designations include Certified Public Accountant (CPA), Chartered Financial Analyst®, CERTIFIED FINANCIAL PLANNER®, Chartered Market Technician®, Chartered Life Underwriter®, and Chartered Financial Consultant®. Outside the office, he enjoys tennis, flying airplanes, traveling, spending time with his adult children, Christina and Matthew, and anything to do with the ocean. To learn more about George, connect with him on LinkedIn.