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Senior Retirement Planning Assistance

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Retirement Planning and help for Seniors

Retirement planning involves financial planning, which is a broad category which encompasses many aspects of our lives. It’s important to make careful financial planning decisions so that you don’t find yourself making decisions you’ll regret.

Here is a list of things to consider when you begin:

  • Cash Flow Planning (Budgeting),
  • Insurance (Life, Health, Auto, Final Expense),
  • Retirement & Investments,
  • Tax Strategies,
  • Life Goals (Travel, Experiences),
  • Legacy & Gifting and
  • Estate

Cash Flow Planning

Many seniors have to account for multiple sources of income, like social security, pensions, annuities, and investments, which can make cash flow planning complicated. Utilizing software to help track income and expenses can be helpful in this situation. The information gained from these applications will assist you in forecasting the future.

Some of the best budgeting applications are:

  • Intuit Mint,
  • Quicken,
  • You Need a Budget (YNAB),
  • Personal Capital,
  • PocketGuard and
  • Goodbudget.

Additionally, Dave Ramsay investment calculator is a great option. Be sure to consider income and expenses that don’t occur on a regular basis.

Call us today or fill out the form at the top of the page if you would like to hear from a retirement planning specialist.


Insurance can be a tricky subject to tackle, but because this is something seniors are familiar with, it’s something we can jump right into. There are a lot of insurance policies that are offered throughout the United States, such as disability insurance, hospital insurance and more. However, one of the most important insurance policies to consider is final expense insurance.

A final expense policy is a varying lump sum that can be used to cover burial expenses along with debts that may remain, like medical bills or car loans. The other is a “Pre-Need” plan that is usually made with a funeral home that will cover funeral and burial expenses. This can be a good option, as it locks in pricing for these items. If you have everything else covered but still have a monthly mortgage payment, it can be a good idea to price a term or whole-life policy to pay off this balance. Although it’s impossible to purchase or afford a large life insurance policy to cover all expenses for a surviving spouse, obtaining a smaller policy equal to your home loan balance can be reasonably priced.

Retirement & Investments

Income for seniors can flow from a variety of sources, so it’s important to find the best retirement investments for you. A quality financial planner can help you understand and maximize your returns.

It isn’t unusual for a retiree to have multiple 401(K), 403(B) or SEP IRA investments scattered around from years of employment. Each has its own instructions that were set by the employee years earlier on where to invest the funds. These can be consolidated and invested in options that better meet your current needs.

Annuities can be a terrific source for predictable returns with a safe investment. Some regard these as great retirement investment resources because you don’t have to worry about how they will perform and if they will lose value.

One type of investment often overlooked is the value of your home. You might consider unlocking that value to help with current expenses (reverse mortgage) or to place in better investments (annuities or mutual funds).

Tax Strategies

A CPA can offer ideas to maximize income by reducing taxes. For example, a reverse mortgage is cash you can spend that isn’t taxable. You may also find that certain types of employment, like being a 1099 contractor instead of a W2 employee, may have different tax implications.

Life Goals

We work hard so we can enjoy the many experiences the world has to offer. It’s important avoid getting caught up in insurance and health care to the point where we fail to pursue our retirement goals. If you’re interested in moving upon retirement, researching the best states to retire. Write goals down, put a dollar amount next to them and (if needed) have a financial planner strategize on finding the funds to make it happen. You deserve this.

Legacy and Giving

Sometimes we get so caught up with our current circumstances we forget about life’s bigger issues. Do you want to support a cause or ministry beyond your living years? How about a fund to help your grandchildren go to college? All are important questions to ask. You may consider setting aside funds or a defined benefit plan if you have them, or at least purchasing an insurance policy payable to a non-profit or trust. An insurance agent and/or estate attorney can help with this planning.


Our heirs will be left to deal with our estate when we pass on. This may include dividing assets, selling real estate or other property, and dealing with probates, taxes, and bills. Taking time with an estate planning specialist will minimize the stress our loved ones will encounter. Don’t hesitate to contact us to connect with a qualified real estate planner.