Retirement decisions often connect income, taxes, investments, Social Security, risk, liquidity, and legacy. Here are straightforward answers to some of the questions pre-retirees and retirees ask most often.
We start by measuring where you are today and understanding what matters most to you. From there, we build a fair comparison between your current plan and the alternatives, using the same assumptions for each. You decide what, if anything, to change. If your current plan measures better, we'll tell you. There is no obligation to move forward after the first meeting.
The Fair Comparison Standard is how we help you evaluate retirement approaches on a consistent basis. We compare your current portfolio, our recommendation, and other proposals using the same market scenarios, inflation assumptions, spending needs, time horizon, and tax calculation method. We explain the assumptions and compare projected after-tax cash flow year by year, so you can understand the differences and trade-offs before deciding. Projections illustrate possible outcomes; they do not guarantee future results.
Income can come from several sources, including Social Security, pensions, annuities, and withdrawals from retirement or taxable accounts. Several sources may reduce the need to sell investments for every expense, but each has different taxes, costs, restrictions, and risks. The right mix depends on your spending needs, flexibility, liquidity, and assets. Talk to an advisor about your situation.
Sources checked September 30, 2026: Social Security Administration — Plan for Retirement; U.S. Securities and Exchange Commission, Investor.gov — Older Investors; Internal Revenue Service — Publication 575, Pension and Annuity Income.Converting some traditional IRA money to a Roth before RMDs begin can lower the IRA balance used to calculate future RMDs, but it is not automatically beneficial. Converted untaxed amounts are generally federally taxable that year. Taxes, cash needs, account mix, and your wider plan all matter. Talk to an advisor about your situation.
Sources checked September 30, 2026: Internal Revenue Service — Retirement Plans FAQs Regarding IRAs; Internal Revenue Service — Required Minimum Distributions guidance.No single level of market risk is right for everyone nearing retirement. Your investment mix should reflect your growth needs, loss tolerance, spending needs, and how soon you may need to sell. Diversification can reduce concentration risk but cannot eliminate losses. Reviewing and rebalancing periodically can help keep risk on track. Talk to an advisor about your situation.
Source checked September 30, 2026: U.S. Securities and Exchange Commission, Investor.gov — Older Investors.There is no set amount of cash or liquid assets every retiree should keep. It depends on near-term spending, emergency reserves, predictable income, taxes, big planned expenses, and how much of your money is in the market. Too little on hand can force untimely sales, while more cash can mean return and inflation tradeoffs. Talk to an advisor about your situation.
Source checked September 30, 2026: U.S. Securities and Exchange Commission, Investor.gov — Older Investors, including retirement withdrawals, asset allocation, diversification, and rebalancing considerations.The best time to start Social Security depends on your circumstances. Benefits can begin as early as 62, and increases from delaying stop at 70. Claiming before full retirement age generally reduces your monthly benefit, and delaying past that age can increase it. Health, work, cash flow, spousal benefits, and life expectancy can matter. Talk to an advisor about your situation.
Sources checked September 30, 2026: Social Security Administration — At What Age Should I Start Receiving My Social Security Retirement Benefits?; Social Security Administration — Plan for Retirement.Annuities can be worth considering for some retirees, but they are not appropriate for everyone. An annuity is an insurance contract that can pay regular income, now or later. Fees, surrender charges, access limits, tax treatment, features, and the insurer's ability to pay can vary widely by contract. Compare it with other income options. Talk to an advisor about your situation.
Sources checked September 30, 2026: U.S. Securities and Exchange Commission, Investor.gov — Annuities; Internal Revenue Service — Publication 575, Pension and Annuity Income.Coordinating which accounts you draw from, income timing, and strategies like Roth conversions can sometimes help manage retirement taxes. Traditional IRA withdrawals and required minimum distributions are generally taxable. Qualified Roth distributions may be tax-free. No single withdrawal order or strategy is best for everyone. Filing status, income sources, and account basis matter. Talk to an advisor about your situation.
Sources checked September 30, 2026: Internal Revenue Service — Publication 590-A; Internal Revenue Service — Publication 590-B; Internal Revenue Service — Social Security Income FAQs.Under current federal law, RMDs generally begin at age 73 or 75, depending on your birth year, and can raise taxable income because most traditional IRA distributions are taxable. Your starting age and first-year deadline depend on the rules for you and your account type. RMDs can also affect other income-based tax calculations. Talk to an advisor about your situation.
Sources checked September 30, 2026: Internal Revenue Service — Required Minimum Distributions guidance; Internal Revenue Bulletin 2026-06, SECURE 2.0 applicable-age rules.Yes, Social Security benefits can be federally taxable, depending on your filing status and other income. The IRS formula counts half your benefits plus other income, including tax-exempt interest. Receiving Social Security does not automatically mean your benefits are taxable. Florida has no personal state income tax. Talk to an advisor about your situation.
Sources checked September 30, 2026: Internal Revenue Service — Social Security Income FAQs; Florida Department of Revenue — Personal Income Tax FAQ.Florida has no personal state income tax, so residents generally pay no Florida income tax on retirement income like IRA withdrawals, pensions, or Social Security. Federal income tax still applies, and another state may have a claim if you have residency, part-year residency, or other tax ties there. Federal treatment depends on the type of income and account. Talk to an advisor about your situation.
Sources checked September 30, 2026: Florida Department of Revenue — Personal Income Tax FAQ; Internal Revenue Service — Publication 590-B; Internal Revenue Service — Social Security Income FAQs.Plan for how long-term care could be paid for and how costs might affect your income, assets, and family decisions. Under federal tax rules, qualified long-term care services and, up to limits, qualified insurance premiums can count as medical expenses. Eligibility, itemization rules, and limits apply, so long-term care costs do not automatically create a tax deduction. Talk to an advisor about your situation.
Source checked September 30, 2026: Internal Revenue Service — Publication 502, Medical and Dental Expenses.What happens to an inherited IRA depends on who inherits it and the account type. Spouses may have options other beneficiaries don't, and many nonspouse designated beneficiaries must follow the federal 10-year rule. Distribution rules can vary with the beneficiary's relationship to the owner and whether an exception applies. Coordinate beneficiary designations with your estate plan. Talk to an advisor about your situation.
Sources checked September 30, 2026: Internal Revenue Service — Retirement Topics: Beneficiary; Internal Revenue Service — Publication 590-B, Distributions from Individual Retirement Arrangements.Usually, yes. Many decisions that affect taxes on a sale, such as how the deal is structured and how proceeds are received, are hard or impossible to change once an agreement is signed. Starting a year or more ahead gives you time to compare approaches with your CPA and attorney. We lay out the options side by side so you can see how each affects taxes, income after the sale, and your estate.
Sometimes. The question is whether your tax rate now is lower than it's likely to be later, for you or for your heirs. Large retirement accounts can create big required distributions, which may push income into higher brackets and raise Medicare premiums. Florida has no state income tax, which can also change the math. We model conversions year by year so you can see the trade-off.
A cash balance plan is a type of pension plan an employer sponsors. For some business owners, it can allow retirement contributions well above 401(k) limits. It tends to suit owners with high, steady income and a small team, because the plan has administration costs and requires contributions for eligible employees. We compare it against simpler options so you can see whether the extra savings justify the cost.
If you already give to charity, the way you give can matter as much as how much. A donor-advised fund lets you contribute in one year and grant over time. Qualified charitable distributions let people 70½ or older give directly from an IRA. Charitable trusts can provide income and a gift later. We compare these against your goals, income, and estate plan.
It means keeping the underlying assumptions consistent wherever possible, so differences in the projections reflect the approaches being compared. For example, we use the same spending needs, inflation assumptions, time horizon, and market scenarios, with a consistent method for calculating taxes. Each approach retains its actual costs, features, and restrictions. Where investments or products behave differently, we explain those differences rather than assume they work the same way.
Yes. Whether a recommendation comes from Paradigm or another financial professional, we can evaluate it alongside your current approach using our Fair Comparison Standard. We’ll need enough information to understand its assumptions, costs, risks, and restrictions. If information is missing, we’ll identify the gap rather than present an incomplete comparison as conclusive. The purpose is to help you understand how each approach supports what matters to you.
A retirement review does not mean you need to change what you’re doing. We start by understanding your goals and evaluating your current approach. If it supports those goals, we’ll explain what is working. If we identify a potential improvement, we’ll walk you through its benefits, costs, risks, and trade-offs. You decide whether a change makes sense for you.
Your review is intended to help you understand where you stand, how your current approach supports your retirement goals, and which questions deserve closer attention. When we prepare a detailed comparison, we explain the assumptions, projected after-tax income, costs, risks, and trade-offs of the approaches evaluated. Before proceeding, we’ll clarify what your review will cover and what information we need from you.
We coordinate with them rather than replace them. Your CPA prepares your returns and your attorney drafts your legal documents. Our role is to build the comparison that connects those pieces, so everyone works from the same assumptions. With your permission, we share our analysis with them and invite their questions before you make any decision.
This information is educational and is not tax or legal advice.
Our Fair Comparison Standard guides your Retirement Review, bringing income, taxes, investments, risk, liquidity, and legacy into one clearer picture. Together, we compare your options under the same conditions so you can see how each could support your goals.