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Fidelity Retirement For Wealthy – PillarWM

Most investors already have some plan in mind for their retirement. Some would like to settle in a quiet town, while others want to explore the world and see what it has to offer. According to Fidelity, retirement saving is a marathon, not a sprint. You can learn about some retirement saving strategies for portfolios with $5 million or more in liquid investment assets by requesting a free copy of our book 7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning For Families With Liquid Investable Portfolios Between $5 Million and $500 Million.

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7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning

The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.

Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.

Table of Contents
The Importance of Retirement Planning
Fidelity Retirement Advice for Investors
How Much Do You Need to Retire?
401K Savings
What Should My Target Retirement Income Be?
How Wealth Management Services Can Help You With Your Retirement
Choosing a Wealth Management Firm
Why Choose Pillar Wealth Management?

The Importance of Retirement Planning

Retirement is the finish line that most investors look forward to. It is the life stage during which they can explore their hobbies. Others would like to simply kick back and enjoy spending time with their loved ones. However, it can be difficult to achieve the retirement you envisioned without planning ahead. Please talk with our wealth managers to learn about the retirement planning services we offer.

Some of the challenges you may encounter when you retire include:

Funding Your Retirement Lifestyle

One of the main challenges of retirement is funding your post-retirement lifestyle. You can spend a lot of  time building up savings. However, these savings will eventually deplete over time. If you are used to a high-expense lifestyle, you may need to downgrade and live a more modest one.

It is possible to get around this problem by setting up income sources for your retirement. In some cases, investors may be able to fund their lifestyle from their portfolio earnings. You can learn about improving your portfolio performance by reading our special guide.

Paying Medical Bills

Health problems can become a major concern for investors as they approach retirement age. Developing a chronic health problem or undergoing emergency surgery can cost you greatly. If your insurance does not cover these expenses, you may need to draw from your retirement savings to pay hospital bills. This will leave you with fewer savings than you initially envisioned.

High Taxes

If you have a high net worth or an ultra-high net worth, you may be paying some of the highest taxes in the country. Unfortunately, this means you may continue to pay high taxes following your retirement. This can be a problem when you are relying on profits from your assets to fund your post-retirement lifestyle.

You may be able to work around this problem by making your portfolio more tax-efficient. We discuss some portfolio growth strategies in our special guide.

Fidelity Retirement

Fidelity Retirement Advice for Investors

Investment management firm Fidelity offers retirement services and investment advice for investors.They offer a range of retirement advisory options. Another option available to you is to engage a firm such as Pillar Wealth Management, which works with families and individuals who possess between $5 million and $500 million in liquid assets.

This can be quite beneficial to existing Fidelity account holders because at Pillar Wealth Management, we utilize Fidelity to custody our clients’ money. For Fidelity customers, their accounts, including the links to their credit cards and bank accounts, do not change. The money remains accessible, and all your historical data is unchanged. We are simply granted access to your portfolio, which remains within the Fidelity platform.

With this arrangement, even if you decide to engage a new wealth management firm, you can avoid ACAT and IRA to IRA transfers. To talk to a wealth advisor with over 30 years of experience, schedule a free call with one of our co-founders, Hutch Ashoo or Chris Snyder.

Fidelity recommends different retirement saving strategies depending on your age.

Advice for Individuals in their 20s and 30s

Fidelity recommends saving an amount equal to your salary by the age of 30. This isn’t a necessity, as you are still many decades away from retiring. However, it will help towards building up a significant quantity of savings.

Advice for Individuals in their 40s and 50s

For individuals approaching the age of 40, Fidelity recommends accruing savings equivalent to three times your salary. For people approaching 50, this amount should be six times their salary.

Advice for Individuals Less than 15 Years from Retirement

For individuals that are less than 15 years from retirement, Fidelity recommends increasing the percentage of income devoted to savings. This is vital as retirement is right around the corner.

Advice for Retired Individuals

For retired individuals, Fidelity recommends maximizing your social security benefit. In addition to this, you should focus on investments that generate income for your retirement. Such investments include:

• Annuities: Insurance contracts that offer payments in the present or the future.

• Bonds and Certificates of Deposits: These generate regular income during your retirement.

• Mutual Funds: These generate income and also have the potential to grow in the long run.

How Much Do You Need to Retire?

You may be wondering how much you need to retire. Fidelity recommends accruing retirement savings that are multiple times your annual salary. As mentioned above, you should have six times your annual salary in savings by the time you turn 50. This figure should be much higher by the time you actually hit retirement. However, such savings may not be possible for everyone.

If you are close to retirement with only two or three years’ salary worth of savings, you may need to rely on other retirement income strategies.

401K Savings

Your 401(k) offers a great method for you to save for your retirement. You may be wondering how much you need in your 401(k) to retire. There are no set criteria for how much you need by the time you retire. However, the average 401(k) balance for people in their 60s is $182,100.

What Should My Target Retirement Income Be?

You may be wondering,“What is a good monthly retirement income?” The definition of “good” will vary depending on who you ask. However, many experts suggest aiming for a monthly retirement income that is 80% of your pre-retirement income.

This figure is high enough to cover your expenses and should allow you to live a comfortable life without making significant sacrifices. However, you may still need to make preparations for any health problems or unforeseen expenses. Please talk with our wealth managers to learn how their retirement planning services can help you in these areas.

How Wealth Management Services Can Help You With Your Retirement

As you can see, there are plenty of challenges to overcome in retirement. Overcoming such hurdles requires plenty of preparation beforehand. We have already discussed how much you need to save to achieve a comfortable retirement. However, you may require some assistance with learning how to go about doing this. 

Wealth management refers to a collection of financial services for investors. These services include retirement planning in addition to other ones such as portfolio analysis, asset management, insurance planning, and tax planning.

Some of the ways wealth management services can help you with retirement include:

Improving Your Portfolio Performance

As mentioned earlier, you may need to rely on your portfolio earnings for retirement income. This means you should strive to boost your portfolio performance as much as possible. A wealth manager can offer portfolio analysis services and study your portfolio carefully. They can identify any inefficiencies present and then suggest strategies to improve your overall portfolio performance.

Managing Your Assets

Working towards your retirement goals can be an ongoing process. However, the more time you spend on this, the less time you will have to devote to other wealth-building activities.

A wealth manager can help manage some of your assets for you. They can conduct different trading activities to help you achieve your investment goals. They can also offer periodic updates to let you know how your assets are doing. The earnings from these assets will help you build your savings for retirement. Please talk with our wealth managers to learn more about asset management.

Saving on Taxes

A wealth manager may also be able to help you save on your taxes. The truth is that there are many ways for investors to reduce the amount of taxes they legally owe. A wealth manager can study your portfolio and recommend strategies to make it more tax efficient.

Choosing a Wealth Management Firm

If you haven’t used wealth management services before, you may be wondering how to choose between wealth management firms. There are many wealth management firms nationwide, so selecting the right one can be tricky. Some of the key things to check for when hiring a wealth management firm include:


Few things are more valuable for a wealth manager than experience. These professionals learn a significant percentage of what they know through helping their clients. They get to witness the various retirement or wealth-building hurdles they face. They also assist their clients during times of crisis, such as market crashes.

All this experience adds to their bank of knowledge and allows them to offer better advice with each passing year.


The right wealth manager will be knowledgeable in a variety of areas. This is a must, as they offer many different services depending on your exact needs. This means they need to understand how your portfolio goals align with your retirement planning goals. As mentioned above, much of this knowledge comes from experience. You can learn about some of our investment strategies by requesting a free copy of our book 7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning For Families With Liquid Investable Portfolios Between $5 Million and $500 Million.

When speaking with a wealth manager for the first time, you should ask them about their services. You can also test their knowledge by asking them some of the questions we included in our guide to choosing a financial advisor.


A wealth manager offers vital services for investors. In some situations, you might have to contact them on short notice. For example, you may require quick advice on making an important financial decision that could impact your wealth. In this scenario, you must ensure the wealth manager is easy to reach.

Any wealth manager that is difficult to reach or fails to make time for you should be avoided. However, this can be difficult to deduce just by speaking with the manager. You should look up reviews for the wealth manager online and see if there are any complaints regarding their reachability.

Fee Transparency

Wealth managers typically charge their clients a fixed annual fee. This is based on a percentage of your asset value. Before hiring a wealth management firm, you must ensure that their fee structure is transparent. After all, no one likes paying for hidden extra charges each time they go for a consultation.

Personalized Services

Another important aspect to look out for when choosing a wealth manager is personalized services. A great wealth manager will spend some time studying your portfolio and understanding your unique needs before offering advice or services to help you. This is vital, as each investor has a unique background and goals.

For example, you may wish to follow advanced investment or retirement planning strategies while possessing limited knowledge in these areas. A wealth manager can create a personalized plan that takes your limited knowledge into account.

Why Choose Pillar Wealth Management?

You can search through various wealth management firms across the nation. However, few can match the quality of personalized services we offer at Pillar Wealth Management. We serve clients from a variety of backgrounds. They trust us due to our six decades of experience and our vast bank of wealth management knowledge. Please set up a complimentary introductory meeting with us to get started with better retirement planning.


To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

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