Preparing for Retirement: Key Decisions for Nonprofit and Association Leaders

Are you ready for retirement? The final 5 to 10 working years before retirement are when decisions stack up and start driving each other. For example, when you retire shapes when to claim Social Security, which shapes your tax bracket, which shapes which accounts to draw from first to reduce your overall tax impact. The cost of treating them as separate decisions usually shows up later, in a higher lifetime tax bill or a portfolio that runs short.

During this session, Juliana Salamone, CFP®, and Dennis Gogarty, CFP®, of Raffa Investment Advisers discussed the most common planning challenges nonprofit and association leaders face as retirement approaches, including retirement timing uncertainty, uncoordinated assets, deferred compensation complexity, inefficient withdrawal planning, and tax exposure that often does not show up until retirement gets closer.