At Reed Financial Planning Services, we offer independent, fee-based planning services to Connecticut public school teachers and their families. With a complex pension system, unique retirement accounts, and their own retiree health insurance options, it's important that teachers work with a financial planning firm that understands these details and the impact they have on a teacher's retirement. We have been helping teachers and their families for over 15 years and have a systematic approach to outlining their retirement.
One of the most common questions I get from teachers is, "When can I retire?" The question sounds simple, but the answer is rather complex! This is especially true for Connecticut public school teachers because of the Connecticut Teachers' Retirement Board Pension.
If you are a teacher who is asking yourself, "When can I retire?" look at the long list of questions below. In order to better understand if you can retire, you first need to answer many of these questions:
- How much will you need when you retire to cover your base expenses?
- What are the health insurance options for you as a retired teacher and your family?What are the costs?
- How do you maximize your Connecticut Teachers' Retirement Board Pension (CTRB or TRB)?
- Will you retire under proratable, vested-deferred, early, or normal retirement?
- Should you consider taking Plan N, C, or D?
- What is the retirement process and what are the deadlines?
- Now that the Social Security Fairness Act has passed, what is your social security claiming strategy and how does this impact your pension claiming decisions?
- How much might you need to withdraw from your investments each year?
- Which investment should you draw from first and why?
- How should your various accounts be invested?
- What happens if you or your spouse needs care as you age?Is your CTRB pension protected?
- Are your estate plans in order and have you coordinated your investment registration and beneficiaries to complement your estate planning documents?
If you need help answering any of these questions, we’re here to help.We’ve been working with teachers like you for the past two decades and would welcome the opportunity to meet with you and answer your questions.You can even hire us on a consultation basis, so we don’t need to take over the management of your assets to provide advice!
If you would like to schedule a time to talk about your situation, feel free to click on the link below where you can view our availability and schedule a complimentary phone consultation.
Click here to schedule your phone consultation
*The firm's asset minimum for new client's is $1,000,000 of investable household assets. Please feel free read about why we have minimums here.