Consultant Hours
  • Mon - Fri: 5:00 AM - 9:00 PM PT
  • Sat - Sun: 5:00 AM - 5:30 PM PT

Tampa Retirement Planning

Your retirement should be a time to relax but if you haven’t planned properly you might find yourself overwhelmed by complicated decisions and wondering how to manage your finances now that you aren’t working. You aren’t alone, in fact, according to a survey conducted by Transamerica on 4,550 workers only about half were confident that they could retire comfortably but many admitted to not being sure what goes into retirement planning. To avoid the frustration of planning everything on your own, consider a retirement planner and the resources available here in Tampa to help you out.

Key Issues In Retirement Planning

Retirement planning can be a little complicated and there are a few key issues that you want to keep in mind as you start. Estate planning, long-term care options, health care costs, and post-retirement income are the main areas that the Certified Financial Planner Board of Standards suggests focusing on.

The first thing you want to consider is your income once you retire because this is what’s going to help you cover some of your day to day costs. Most seniors are going to rely on Social Security benefits to kick in once they reach age 66. Here is something most seniors don’t know, at age 66 you can get 100% of your monthly benefits but if you delay collection of your Social Security, that number increases. By age 67 you could get 108% and if you can hold off until age 70, the longest you can wait, you could be getting 132%.

If you have various accounts for your money, like savings accounts or retirement accounts, this is another way you can end up getting more money over time. If you withdraw money from these accounts in a certain order, your tax payment could be lowered. This is where a retirement planner is a huge benefit because they can look at all your accounts and tell you when is the best time to use them to save money.

Finally, you want to think about when you’re actually going to retire and this is different for every senior. You could retire right away at 65 or you could delay it a few years. Some people even choose to keep working part-time after they retire from their full-time jobs. Here in Florida, about 5.7% of the total workforce are 65 or older.

Looking For Financial Planners In Tampa

You should talk with your coworkers and trusted friends to see if they have any suggestions for planners in your area. Your boss or company might also have some suggestions or even have their own planning group that you can use. Certified Financial Planners are located all over Tampa and you can use these tools to find one that is right for you.

The National Association of Financial Planners has a search tool that allows you to look for any type of planner in your city. You can refine your search to just retirement planners as well as change the distance to find planners that are near your home.

The Certified Financial Planner Board of Standards also has a search function and you can refine it once you enter in your location.

Check the BBB of West Florida so you can not only find retirement planners but read their business reports and find user reviews so you pick the best planners in your neighborhood.

More Retirement Information

You can learn more about retirement through the state of Florida’s retirement guides. This website is through the Florida Department of Management Services and you can find online guides for things such as:

Deferred retirement plans

What to do when you’re ready to retire

Disability and survivor benefits

FRS member handbook

You can also find forms and links to other resources that can help you with your retirement planning. You can call the department at 850-488-2786 for more information.

Learn more about Tampa Retirement Planning here:

How Much Does It Cost to Retire in Tampa, FL?

What's the Cost of Living in Tampa, FL?

Tampa Financial Advisors

Tampa Elder Law Attorneys

Tampa Senior Realtors

Tampa Senior Movers and Downsizers

Tampa Neighborhood Guide

Live Like a Local in Tampa

Tampa Demographics and Lifestyle

Find assisted living in Tampa near you.