Oak Partners offers advanced retirement planning at a local level

Oak Partners offers advanced retirement planning at a local level

As you begin to navigate your adult life in your early 20s, retirement is likely not at the forefront of your mind. While Oak Partners’ core target audience ranges from 35-55 year-olds, Managing Partner and Wealth Advisor Jason Urbaniak believes it is never too early or too late to begin planning for retirement.

By asking critical questions about your future and setting aside retirement savings early, you build a financial foundation that can be tweaked as time goes on and your needs change. Whether you are in your 20s or 80s, the first step to establishing a foundation for your retirement is saving. 

“In your 20s, 30s, and 40s, it's about putting your pedal to the medal and saving some money,” Urbaniak said. “It's about saving, compounding, watching taxes, and keeping the money deferred in your IRA or a retirement plan. In your mid-50s is when you may start getting a little bit fancier because retirement is getting closer, so you start talking about income, taxes, and what your future retirement plans are.”

Once you reach 59.5, you can also take money out of your retirement portfolio without a penalty, and once you reach 72, the government will have you take your required minimum distributions. Another significant change to your retirement portfolio is when you begin taking money from your social security.

“Every case is different. If I meet a 57-year-old who wants to retire in eight years and hasn't saved enough, then the game plan might be finding more money to put away. If a client has a family trust they're going to inherit, then maybe we put a different plan,” Urbaniak said. “Every single person we see is a different story. They have different goals and different dreams, so you have to build their portfolio and build out their allocation accordingly.”

At any age and stage, Urbaniak recommends saving money and tax-deferred, putting as much money into a 401K as possible, creating a budget, and working with Oak Partners. With its advanced offerings at a local level, he believes Oak Partners is the perfect midpoint between a national firm and a mom-and-pop firm.

“Next year we're going to celebrate our 30th year of servicing clients across NWI,” Urbaniak said. “With us, you get a big firm, but you still get the personalized service you deserve. We are fiduciaries of advisory services. We’re not just buying things and saying, ‘We hope to see you again. ‘We’re making changes to your portfolio quarterly and keep our clients educated and informed.  At Oak Partners, you get an advanced firm that is still local, which is rare.”

Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

For more information about Oak Partners and how to start planning your retirement, visit oakpartners.com