RETIREMENT PLANNING SERVICES
Retirement planning goes beyond reaching a savings goal. Tenet Wealth Partners helps individuals and families coordinate income, investments, taxes, Social Security, healthcare, and legacy decisions through a personalized retirement strategy.
Fee-Only Fiduciary Guidance | CFP® Professionals | Serving Clients Locally and Nationwide
A Retirement Strategy Designed Around Your Life
Retirement planning is a lot like designing your dream home. Before construction begins, you need a clear vision, a thoughtful design, and an understanding of how all the individual pieces will work together.
Your retirement strategy should begin the same way, with an understanding of the life you want to lead, the resources available to you, and the financial decisions that may shape the years ahead.
Whether you are several years from retirement, preparing to leave your career, or already enjoying retirement, Tenet Wealth Partners works with you to bring the financial decisions surrounding retirement together.
The Questions Your Retirement Plan Should Help Answer
Retirement can introduce a new set of financial decisions. A comprehensive plan can help you evaluate those decisions together rather than addressing each one in isolation.
Am I Financially Prepared to Retire?
Evaluate whether your savings, expected income, anticipated spending, and retirement timeline are aligned with the life you envision.
How Much Can I Comfortably Spend?
Develop a realistic spending plan that considers essential expenses, lifestyle goals, travel, healthcare, inflation, and unexpected costs.
Where Will My Retirement Income Come From?
Coordinate Social Security, pensions, investment accounts, retirement plans, cash reserves, and other potential sources of income.
How Can Taxes Affect My Retirement?
Consider how account withdrawals, Roth conversions, required minimum distributions, charitable giving, and investment decisions may affect your tax picture.
When Should I Claim Social Security or Pension Benefits?
Evaluate benefit elections within the context of your income needs, life expectancy, spouse, taxes, and overall retirement strategy.
How Will My Plan Adapt Over Time?
Monitor your plan as markets, tax laws, healthcare needs, family circumstances, and personal priorities change throughout retirement.
Comprehensive Retirement Planning Services
Tenet’s retirement planning services are designed to coordinate the financial areas that can influence your retirement readiness, income, security, and long-term goals.
Retirement Readiness and Cash-Flow Planning
We evaluate your assets, savings, liabilities, expected income, anticipated expenses, and desired retirement date to help determine whether your financial resources support your goals.
Retirement Income and Withdrawal Planning
We help develop a coordinated approach to generating retirement income from Social Security, pensions, taxable investments, retirement accounts, and other available resources.
Tax-Aware Retirement Strategies
We evaluate opportunities involving Roth IRA conversions, required minimum distributions, withdrawal sequencing, tax-bracket management, charitable giving, and other tax-sensitive decisions. When appropriate, we coordinate with your tax professional to support implementation.
Investment and Risk Management
We align your investment strategy with your income needs, time horizon, risk tolerance, and long-term goals while considering inflation, market volatility, and sequence-of-returns risk.
Social Security, Medicare, and Pension Planning
We help you evaluate the timing and coordination of Social Security, pension elections, Medicare, and anticipated healthcare expenses as part of your broader retirement plan.
Insurance, Long-Term Care, and Legacy Coordination
We incorporate insurance needs, long-term care considerations, beneficiary designations, estate planning priorities, charitable intentions, and family goals into your retirement strategy.
Planning for the Years Before and Throughout Retirement
Retirement planning changes as you move from building your resources to relying on them. We work with individuals and families, including professionals, executives, and business owners, to coordinate the decisions that matter before retirement, during the transition, and throughout the years that follow.
Preparing for Retirement
Several years before retirement, we can help assess your savings progress, future spending needs, investment allocation, debt, insurance, healthcare considerations, and potential retirement date. For business owners, planning may also include the timing of an exit or succession strategy and how business value fits into the retirement plan.
Transitioning Into Retirement
The years surrounding retirement often involve several important decisions at once. We help coordinate Social Security and pension elections, Medicare, cash reserves, withdrawal sequencing, Roth conversions, and tax-bracket management as earned income changes.
Living in Retirement
Your retirement plan should continue to evolve after work ends. We monitor income needs, investments, required minimum distributions, taxes, healthcare costs, legacy priorities, and changes in your family or financial life.
How Our Retirement Planning Process Works
A useful retirement plan should turn complexity into a clear set of coordinated decisions. Our process is designed to help you understand where you stand, evaluate the choices available to you, and identify the actions that support your retirement goals.
01. Understand What Matters Most
We begin with a conversation about the life you want in retirement, your priorities, concerns, family circumstances, and current financial picture.
02. Analyze the Moving Parts
We evaluate your cash flow, savings, investments, taxes, Social Security, healthcare, insurance, estate considerations, and other factors that may affect your retirement plan.
03. Build a Coordinated Strategy
We develop recommendations that connect these financial decisions and help you understand the potential tradeoffs, timing considerations, and actions involved.
04. Monitor and Adapt
Retirement planning does not stop once your plan is in place. As markets, tax laws, spending needs, family circumstances, and personal priorities change, we revisit your strategy with you and make adjustments along the way.
Why Work With Tenet Wealth Partners?
Retirement decisions often cross several areas of your financial life. Tenet combines personal guidance, disciplined planning, and ongoing coordination to help you consider how those decisions fit together.
Our goal is not simply to produce a financial plan, but to help you understand how the individual pieces work together and how your strategy may need to evolve over time.
Fee-Only Fiduciary Guidance
Our fee-only structure is designed to align our advice with your goals and reduce product-related conflicts of interest.
CFP® Professionals on Staff
Our team includes CFP® professionals who bring disciplined planning expertise to the financial decisions surrounding retirement.
One Coordinated Financial Strategy
We consider investments, income, taxes, insurance, healthcare, estate priorities, and family goals as connected parts of one retirement strategy.
Local Relationships, Nationwide Service
Based in Champaign, Illinois, Tenet works with clients locally and nationwide through a combination of in-person and virtual meetings.
Retirement Planning FAQs
Retirement planning often raises questions that do not have one-size-fits-all answers. These are some of the issues we commonly help individuals and families evaluate as part of a coordinated retirement strategy.
What is included in retirement planning services?
Comprehensive retirement planning can include cash-flow analysis, savings and investment planning, retirement-income projections, withdrawal sequencing, Social Security and pension decisions, tax planning, Medicare and healthcare considerations, insurance, long-term care, estate priorities, and ongoing monitoring. The specific areas emphasized will depend on your financial circumstances and goals.
How much money do I need to retire?
The amount needed for retirement depends on factors such as your desired lifestyle, expected spending, retirement age, income sources, investment strategy, taxes, healthcare costs, inflation, and longevity. Rather than relying on a single savings target, retirement planning evaluates these factors together to determine whether your resources are aligned with your goals.
When should I begin working with a retirement advisor?
Retirement planning can be valuable at many stages, but beginning several years before retirement may provide more time to evaluate savings, investment allocation, tax strategies, Social Security, healthcare, and other important decisions. Planning can also be useful during the transition into retirement and throughout retirement itself.
How can taxes affect my retirement income?
Taxes can affect how much of your retirement income is available for spending. Withdrawals from traditional retirement accounts, Roth conversions, required minimum distributions, Social Security benefits, investment income, and charitable giving can all have tax implications. Coordinating these decisions may help you better understand their effect on your overall retirement strategy.
When should I claim Social Security?
The appropriate timing for claiming Social Security depends on your individual circumstances, including your income needs, health, life expectancy, marital status, other retirement assets, and tax situation. Evaluating Social Security within the context of your broader retirement plan can help you understand the tradeoffs associated with different claiming ages.
Can Tenet help if I am already retired?
Yes. Retirement may change the focus of your financial planning, but it does not mean the planning stops. Ongoing planning can include managing retirement income, investment allocation, required minimum distributions, taxes, healthcare costs, charitable giving, estate priorities, and changes in your family or financial circumstances.
Does Tenet work with clients outside Champaign, Illinois?
Yes. Tenet Wealth Partners is based in Champaign, Illinois, and works with clients locally and nationwide. Depending on your location and preferences, meetings may take place in person or virtually.
What does fee-only fiduciary guidance mean?
A fee-only advisory firm is compensated directly by its clients for guidance and services only rather than through commissions for selling financial products. As a fiduciary, Tenet Wealth Partners is required to act in the best interests of its clients when providing investment advice.
Latest Retirement Planning Insights
Explore the latest guidance on retirement readiness, income planning, taxes, Social Security, and other decisions that may shape your retirement.
How Much Money Americans in Their 30s and 40s Have in Their 401(k)s
Kevan Melchiorre, CFP®, Co-Founder of Tenet Wealth Partners, recently shared his perspective with CNBC on the role of 401(k)s in retirement planning, how much workers may consider saving, and why feeling behind doesn’t mean it’s too late to revisit your retirement savings approach.
Can You Collect Social Security Benefits From an Ex-Spouse? Here’s What You Need to Know
If you’re approaching retirement after a divorce, you may have heard that you can collect Social Security benefits based on your former spouse’s work record. It’s a common question, and in many cases, the answer is yes. However, there are several important rules that determine whether you’re eligible and how much you may receive.
Fiduciary Advice and the Value of Trust in Financial Planning
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Ready to Take the Next Step?
Schedule a consultation with Tenet Wealth Partners to discuss your financial goals and how we can help you plan with clarity and confidence.