Retirement planning involves establishing specific goals and objectives and prioritizing them in the order of importance.  You’ll need to determine the feasibility of reaching your goals and ultimately setup a plan to hit your targets.  

Your plan will need to navigate the intricate set of traps the IRS has set up and seek out the favorable distribution methods available.  Closely held business owners may have the option of selecting a plan out of the many flavors now available.  No plan fits everyone so you’ll want to rely on an experienced planner.  

Your plan will be based on the following data: 

• Estimated living expenses during retirement
• Estimated income from retirement benefits, Social Security and part-time employment after retirement
• Current value of retirement plan assets and nature of plan terms and limitations
• When you want to retire
• Current value of other invested assets
• Current amount being saved toward retirement
• Life expectancy
• Expected inflation rate during remaining life expectancy
• Anticipated investment rate of return
• Anticipated income tax rate