8 Things to Think About as You Approach Retirement
For many individuals, retirement isn’t simply about stepping away from work; it’s about stepping into a new chapter with intention. You’ve spent decades building your wealth, creating security for your family, and shaping a lifestyle you value. Now, as you begin to look toward the horizon of retirement, the questions shift from “How do I earn more?” to “How do I make this next phase everything I’ve worked for?” At Seaside Wealth Management, we know that approaching retirement is about much more than a portfolio review—it’s about aligning every financial, personal, and legacy decision so you can retire with purpose and peace of mind.
1. Defining Your Ideal Retirement Lifestyle
Before you crunch numbers or decide when to claim benefits, it’s important to define what retirement looks like to you. For some, it means scaling back to part-time consulting or pursuing passion projects. For others, it might involve travel, philanthropy, or spending more time with family. Understanding what you want your days and years to look like helps guide every other financial decision you make. The team at Seaside Wealth Management encourages clients to take a holistic view, incorporating lifestyle goals into their financial plan. With this approach, your money supports the experiences and freedoms that matter most to you.
2. Timing Your Retirement for Maximum Impact
When you retire can be just as important as how much you’ve saved. The timing of your retirement affects everything from when you start drawing income to how your investments are structured. Leaving the workforce a few years earlier or later can have major implications for tax strategy, Social Security, and even healthcare planning. In this short video from Seaside Wealth Management, our advisors break down key considerations for retirement timing and how to approach this decision with strategy and confidence. Rather than letting the calendar dictate your next step, it’s worth analyzing how your retirement date aligns with your financial readiness, market conditions, and long-term goals.
3. Reviewing and Refining Your Investment Strategy
As you approach retirement, your investment portfolio should evolve. This doesn’t necessarily mean becoming ultra-conservative, but rather shifting focus from accumulation to preservation and distribution. You want your assets to work efficiently for you without exposing your nest egg to unnecessary risk. At Seaside Wealth Management, we help clients create dynamic portfolios that balance growth potential with stability, often using diversified income strategies and tax-efficient withdrawals. This stage of life is about precision and ensuring your assets are positioned to provide steady income while maintaining flexibility to adapt to changing markets or personal needs.
4. Coordinating Your Social Security and Income Streams
Social Security may not be the centerpiece of your income, but timing it correctly still matters. The decision to claim early, wait until full retirement age, or delay until 70 can influence your overall retirement income and tax situation. When paired with other income sources like investment accounts, real estate, or business interests, the goal is to create a cohesive withdrawal plan that minimizes taxes and maximizes longevity of your wealth. A well-coordinated strategy can help you maintain a comfortable lifestyle while optimizing your legacy goals.
5. Planning for Healthcare and Medical Coverage
Healthcare is one of the largest considerations in retirement, even for those with significant assets. As you transition out of employer-sponsored insurance, you’ll need to evaluate Medicare coverage options, supplemental policies, and potential long-term care needs. Medical costs can fluctuate unpredictably, so it’s wise to include healthcare planning as part of your broader retirement strategy. Our advisors often collaborate with insurance specialists to ensure clients have comprehensive protection that supports their well-being without compromising financial flexibility.
6. Structuring Your Estate and Legacy Plan
Estate planning is about far more than distributing assets. It’s about ensuring your family, values, and charitable goals are protected and carried out according to your wishes. As retirement nears, it’s a good time to review your estate documents, including wills, trusts, and powers of attorney, and make sure they align with your current intentions. Strategic estate planning can also minimize taxes and provide clarity for future generations. At Seaside Wealth Management, we integrate estate planning guidance into your overall financial picture, coordinating with attorneys and tax professionals to ensure your legacy is thoughtfully designed and seamlessly executed.
7. Staying Tax-Efficient Through Retirement
Taxes don’t stop when your paycheck does. In fact, the transition into retirement can create new tax challenges and opportunities. The timing of withdrawals, the sequence of income streams, and the types of accounts you draw from all play a role in how much you ultimately keep. Converting traditional IRAs to Roth accounts, harvesting gains strategically, or managing charitable giving can all help preserve wealth. Seaside Wealth Management takes a proactive approach, offering in-house tax planning support to help clients make smart, integrated decisions year after year.
8. Preparing Emotionally and Socially for Retirement
Beyond financial readiness, retirement represents a profound life transition. Many people underestimate the emotional shift that comes with leaving a long-held professional identity. It can be an exciting time of renewal, but also one that calls for intentional planning around purpose and connection. Whether it’s mentoring younger professionals, joining boards, or spending more time with family, defining your sense of fulfillment is key to a happy retirement.
Our advisors often help clients explore how financial security can support emotional well-being and personal growth in this new phase of life.
Approaching retirement is one of life’s most significant transitions, but it doesn’t have to be overwhelming. At Seaside Wealth Management, we help clients like you create retirement strategies that reflect not just financial success, but a life well-lived. If you’re ready to discuss your retirement timing, estate plan, or tax-efficient income strategy in Carlsbad, CA, we invite you to schedule a consultation today. Let’s make your retirement everything you’ve envisioned and more.
This commentary reflects the personal opinions, viewpoints and analyses of the Seaside Wealth Management, Inc. employees providing such comments, and should not be regarded as a description of advisory services provided by Seaside Wealth Management, Inc. or performance returns of any Seaside Wealth Management, Inc. client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Seaside Wealth Management, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.