Spend Down Strategy

There’s more to planning for retirement than simply saving enough to fund your lifestyle. When you stop accumulating wealth, the financial skills and planning you need are different and often more complicated. We work with families to develop a customized Spend Down Strategy that begins even before you retire and increase the odds of having enough money in retirement. This detailed planning can achieve significant savings for you, your family and your legacy plans.

At Lumia Wealth, we can help you develop a Spend-Down Strategy to increase your odds of having enough money by decreasing your tax costs in retirement. We help clients shift from the traditional view of taxes to seeing the bigger picture: It’s not about paying the least amount of taxes in any given year; it’s about losing the least amount of wealth to taxes over your lifetime. Spend-Down Plans aren’t only about taxes. They include strategies to optimize Social Security and update estate documents — leaving you more money to maintain your lifestyle, to pass on to future generations and to support the causes most important to you.