How to Plan for Retirement

The EP Wealth Difference

Our role is not to predict the future or eliminate uncertainty. It is to provide objective advice, a clear perspective and a steady partnership so you can make confident decisions, even in uncertain times.

Advanced Tax Planning for Retirement

Retirement tax planning isn’t about finding a single “tax-efficient” move; it’s about managing a series of decisions where each choice affects the next. Withdrawals, conversions, Social Security timing, charitable strategies, and estate planning are all interconnected, and when they’re handled in isolation, the long-term cost is often higher than expected.

At EP Wealth, we approach retirement tax planning the way a CFP® practitioner does: by focusing on sequencing, timing, and trade-offs over decades, not just minimizing this year’s tax bill. We work closely with your CPA and, when appropriate, our in-house tax team to model scenarios, pressure-test assumptions and evaluate how today’s decisions shape future flexibility.

Here are a few planning areas we commonly address with clients:

• Coordinated withdrawals – Evaluating how and when to draw from Roth, traditional, and taxable accounts to help manage taxable income across retirement phases.
• Required minimum distributions (RMDs) – Planning ahead for RMDs at age 73 and beyond to support liquidity needs and reduce the potential for unintentional tax burdens.
• Roth conversion strategies – Assessing when conversions may align with your income profile, charitable giving goals, or long-term wealth transfer plans.
  • Roth conversions can create meaningful long-term tax savings, but only when evaluated in the context of your full financial picture. At EP Wealth, we show clients the potential dollars saved over time while also providing clear guidance on when conversions may be less effective or introduce additional risk.
  • We assess Roth conversions alongside retirement spending needs, expected income, charitable goals, and legacy priorities. In some cases, converting today can lower future tax exposure and increase flexibility through tax-free withdrawals later in retirement. In others, the trade-offs matter more than the headline tax savings.
  • For example, aggressive conversions may require pulling additional funds from investment accounts to pay the tax, which can increase sequencing risk early in retirement. When retirement income is expected to remain relatively low, conversions may be unnecessary if future withdrawals already fall into lower tax brackets. For clients with legacy goals, Roth conversions may make sense due to the long-term value of tax-free withdrawals, while others may be better served by preserving pre-tax assets or coordinating with charitable strategies.
  • Rather than offering a single recommendation, we present multiple scenarios and quantify the impact of each. By comparing potential tax savings, cash flow implications, and long-term outcomes side by side, clients gain the clarity needed to decide whether a Roth conversion truly fits their plan.

• Charitable planning and gifting strategies – Including qualified charitable distributions (QCDs), donor-advised funds, or annual gifting as part of a tax-aware retirement and estate plan.
  • For many families, charitable giving is about more than tax deductions; it’s about impact, values, and legacy. At EP Wealth, we help clients integrate charitable giving into their broader financial and tax plan rather than treating it as a one-off decision made at year-end.
  • The reality is that how and when you give can matter just as much as how much. Tools like qualified charitable distributions (QCDs) and donor-advised funds (DAFs) can be powerful, but their true value comes from aligning them with income planning, retirement cash flow, and long-term goals — especially as tax laws continue to evolve.
  • Recent changes in tax rules highlight why this coordination matters. For example, an increase in the AGI threshold for certain itemized deductions has made “bunching” charitable contributions more attractive for some clients. In these cases, contributing multiple years’ worth of giving to a donor-advised fund in a single year may help maximize deductions while preserving the flexibility to support charities over time.
  • We also pay attention to smaller but meaningful planning opportunities. With the expanded SALT deduction cap under the OBBBA, some clients may benefit from paying property taxes in full by December 31 rather than spreading payments across two years, though income limits and phase-outs still apply. These decisions are evaluated in the context of your full financial picture to potentially minimize unintended consequences.
  • Rather than prescribing a single solution, we walk clients through multiple scenarios, outlining the pros and cons of each approach. This might include comparing annual giving versus DAF bunching, using QCDs to satisfy required minimum distributions, or timing deductions around high-income years. By seeing the trade-offs side by side, clients can make informed decisions that align generosity with informed, forward-looking planning.

Tax planning is not one-size-fits-all. Our team supports clients in evaluating how these strategies fit within their broader retirement planning services and financial goals.

Relocation and State-Specific Retirement Planning

Relocating in retirement can offer new opportunities—but it can also introduce new financial considerations. At EP Wealth, we help clients assess how a change in residency may affect their income strategy, tax exposure, estate planning, and overall retirement outlook.

Whether you're moving for lifestyle reasons, to be closer to family, or to take advantage of a state tax situation, we incorporate relocation planning as part of our broader financial planning services.

Our team supports clients in evaluating:

• State income tax impact – Some states have no income tax, while others treat retirement income differently. We help assess how your income sources—from Social Security to investment withdrawals—may be taxed in different states.
• Dual-state residency dynamics – If you plan to split time between locations, we help clarify the financial and legal implications of establishing and maintaining residency.
• Real estate and ownership structure – Owning property in multiple states can introduce estate planning and probate complexities. We work with clients to coordinate these decisions with their long-term goals.
• Estate and inheritance tax exposure – State-level estate and inheritance tax laws vary widely. Relocation can play a role in how your assets may be treated now and in the future.

At EP Wealth, our goal is to help you align your new location with your retirement priorities—before, during, and after the transition.

Healthcare Planning in Retirement

Healthcare costs can become one of the most significant—and often underestimated—expenses in retirement. From Medicare decisions to long-term care planning, healthcare costs can significantly shape your financial outlook. At EP Wealth, we take a proactive approach by integrating health-related expenses into your broader financial strategy—helping you prepare for both anticipated and unexpected needs as your plan evolves.

Through our retirement planning services, we help clients evaluate:

• Medicare timing and coverage options – We guide clients through enrollment windows, coverage choices, and potential out-of-pocket expenses to support more informed Medicare decisions.
• Long-term care planning – We help assess funding strategies for long-term care, including self-funding, long-term care insurance, or hybrid solutions, as part of your retirement income plan.
• Health Savings Account (HSA) integration – For clients with HSA balances, we evaluate how these accounts may support qualified medical expenses in retirement and how they fit into broader tax and withdrawal strategies.
• Medical cost forecasting – We account for projected healthcare spending—including premiums, supplemental coverage, and personal health considerations—as part of long-term cash flow and expense planning.
• Coverage transitions – For those moving from employer-sponsored coverage to Medicare or private insurance, we help coordinate the financial aspects of that transition.

Our team helps ensure that healthcare costs aren’t an afterthought, but an integrated part of how we deliver retirement planning and wealth management services that reflect your full financial picture.

Legacy Planning and Multi-Generational Retirement Strategies

Retirement planning isn’t just about one generation—it’s about setting a course that reflects your goals today while also supporting those who may benefit from your planning tomorrow.

For clients with $1M+ in assets, long-term retirement strategies often include provisions for heirs, charitable organizations, or trusts that reflect specific wishes.

Our retirement and legacy planning services may include:

• Aligning your plan with legacy goals – Incorporating philanthropy, inheritance planning, or support for loved ones into your retirement income strategy.
• Coordinating gifting strategies – Evaluating how annual gifts or trust funding may align with lifetime income needs.
• Preparing heirs – Introducing family members to your advisory team and encouraging financial education for future stewards of your wealth.
• Structuring distributions – Using trusts or structured withdrawal plans to support tax-aware transfers to beneficiaries.

Legacy planning is a personal process. We work closely with clients to help structure retirement strategies that support both near-term needs and long-term impact.

Milestones That May Signal It’s Time to Revisit Your Plan

Even the most well-built retirement plan needs occasional review. Life changes, economic conditions, and new regulations can shift the context around your goals and income needs. If any of the following apply to you, it may be time to take another look.

Common reasons to reassess your retirement plan:

• Approaching age-based planning windows – Such as 59½ (penalty-free withdrawals), 65 (Medicare eligibility), or 73 (RMDs).
• Career changes or retirement – A shift in income or employment status often requires updating income, savings, and distribution strategies.
• Life transitions – Marriage, divorce, downsizing, or relocating can all affect spending, healthcare, and tax planning needs.
• Moving from accumulation to distribution – The transition from saving for retirement to using those savings is a major milestone that may require adjustments in strategy.

Whether your goals have changed—or your circumstances have—it’s helpful to work with a team that can support coordinated updates across your full financial life.

OUR HOLISTIC APPROACH TO WEALTH PLANNING

How EP Wealth Helps You Build the Future You Envision

With EP Wealth Advisors, you get much more than investment management. You get a personalized financial plan that clarifies your goals and guides your financial decisions as you build the future you envision.

Your customized financial roadmap includes a financial health assessment to see where you are now and how to get to where you want to go. That assessment includes an investment portfolio analysis and tax planning services for a totally holistic approach. EP Wealth can work with a CPA in developing a tax plan. We can also advise about your insurance needs to protect your loved ones.

Life changes, and your retirement plan needs to stay flexible. We meet with you regularly for a retirement plan review and to make any adjustments for the surprises that life throws your way.

FINANCIAL ADVISORS FOR RETIREMENT PLANNING

Stop dreaming, start planning, and talk to an EP Wealth Advisor today about creating your own retirement plan!