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Services

Tax Planning

Tax planning is one of the most overlooked yet powerful resources available to retirees. Without a thoughtful tax strategy, taxes can quickly erode your retirement savings and limit your financial flexibility. By proactively managing your tax situation, you can preserve more of your hard-earned money, extend the life of your savings, and create a retirement that truly supports your goals and lifestyle. Our tax planning process is designed to provide significant value and can dramatically change the trajectory of your retirement.
Here’s what our comprehensive tax planning service includes:

  • Annual tax return analysis
  • Roth conversion strategies
  • Timing and coordination of income streams
  • Guidance on when to take Social Security
  • Navigating Medicare and its tax implications
  • Tax harvesting strategies to minimize investment taxes

Effective tax planning isn’t just about reducing your tax bill today—it’s about ensuring your retirement income lasts longer and supports the lifestyle you envision

Investment Management

One of the greatest risks facing retirees is experiencing a significant market downturn just before or in the early years of retirement—a phenomenon known as sequence of returns risk. Research from Fidelity highlights that negative returns during this “retirement red zone” can have a lasting impact, making it much harder for your savings to recover and increasing the risk of outliving your assets. That’s why a thoughtful investment strategy is essential as you transition into retirement.

Our investment management approach focuses on three key principles to help protect and grow your wealth:

  • Keeping investment costs low to help your savings go further.
  • Maximizing tax efficiency by selecting investments and strategies designed to reduce the impact of taxes on your returns.
  • Owning the right mix of assets tailored to your goals, risk tolerance, and retirement timeline.

As fiduciaries, we are committed to always acting in your best interest. We continuously monitor and adjust your portfolio to ensure your investments remain aligned with your retirement objectives, providing you with confidence and clarity every step of the way.

Retirement Income

Most advisors are skilled at helping clients grow their assets—climbing the mountain—but far fewer specialize in the arguably more critical challenge of generating reliable retirement income, or safely guiding clients down the mountain. They often rely on simple rules of thumb like the 4% rule or suggest living off the interest and never touching your principal. But there are far more sophisticated and effective ways to create reliable retirement income.

At Harriman Hall Wealth, we help our clients implement the retirement income guardrails strategy, inspired by the research of Jonathan Guyton and William Klinger. This approach goes beyond static withdrawal rules, offering a dynamic way to adjust your income as markets and personal circumstances change. Instead of sticking to a fixed percentage, guardrails set upper and lower boundaries for withdrawals. If your portfolio grows, you can increase your income; if markets decline, you make prudent adjustments to stay on track.

Imagine your retirement journey as a long road trip. The guardrails are there to keep you safely on course—if you drift too close to the edge, the guardrail nudges you back, helping you avoid a financial mishap while still allowing you to enjoy the ride. For example, one client was able to take a dream vacation when markets performed well, but when the market dipped, we made a small, temporary adjustment to their withdrawals, ensuring their long-term security without sacrificing their lifestyle.

This flexible, research-backed approach provides confidence and clarity, helping you spend with peace of mind and adapt to whatever retirement brings

Healthcare Planning

Healthcare is one of the largest—and most unpredictable—expenses in retirement. According to Fidelity’s 2024 Retiree Health Care Cost Estimate, a 65-year-old retiring this year can expect to spend an average of $165,000 on healthcare and medical expenses throughout retirement. This figure continues to rise, reflecting both increasing longevity and healthcare inflation

How We Help You Navigate Healthcare in Retirement

We guide our clients through every step of healthcare planning, ensuring you make informed decisions and are prepared for all phases of retirement:

  • Medicare Guidance:
    • Part A: Hospital insurance (inpatient care, skilled nursing, hospice)
    • Part B: Medical insurance (doctor visits, outpatient care, preventive services)
    • Part C (Medicare Advantage): All-in-one plans that may offer additional benefits
    • Part D: Prescription drug coverage
  • Long-Term Care Planning:
    If you or a loved one needs extended care, we help you evaluate and plan for:
    • In-home care services
    • Assisted living communities
    • Nursing homes
    • Memory care facilities

Our goal is to help you anticipate and manage these costs, so you can focus on enjoying retirement with confidence and peace of mind.

Estate Planning

Without a well-crafted estate plan, your assets may be subject to probate—a lengthy, costly, and public legal process that can delay the transfer of your wealth to loved ones. Probate expenses can significantly reduce the value of your estate, while the lack of clear instructions often leads to uncertainty, family stress, and unintended outcomes. Relying solely on a will, or having no plan at all, means your wishes may not be honored, and your heirs could face unnecessary legal hurdles and delays.

We guide our clients through an efficient and comprehensive estate planning process designed to protect your legacy and provide peace of mind. Our approach includes:

  • Revocable living trusts to help avoid probate and ensure the smooth, private transfer of assets
  • Advanced directives to clearly communicate your healthcare wishes
  • Powers of attorney for financial and medical decisions if you become unable to act for yourself
  • Last will and testament to specify your intentions for any remaining assets
  • Charitable giving strategies to support causes you care about while maximizing tax benefits

Our goal is to help you safeguard your assets, minimize costs and delays, and ensure your legacy is passed on according to your wishes.