Retirement Planning Strategies That Actually Work

For most people, “retirement” doesn’t mean sitting on a beach sipping umbrella drinks. It means freedom. The freedom to choose what your days look like, where you spend your time, and who you spend it with. But getting to that point takes more than just saving into a 401(k) and hoping the market cooperates.

Let’s talk about the real retirement planning strategies that can help you get there—and stay there—with confidence.

The Myth of “One-Size-Fits-All”

There’s a lot of generic advice floating around out there. “Save 15% of your income.” “You’ll need 80% of your pre-retirement income to live comfortably.” “Just invest in index funds and let it ride.”

Sure, those can be good starting points. But what if you're self-employed? What if your expenses won’t go down in retirement (looking at you, healthcare)? What if you don’t want to scale back your lifestyle?

The truth is, effective retirement planning isn’t a formula. It’s a strategy. One that accounts for your goals, your lifestyle, your assets, and your unknowns.

The Big Three: Income, Expenses, and Longevity

Let’s break it down.

1. Income:

You need to know where your money will come from when you stop working. That could include Social Security, pensions, rental income, investment portfolios, or part-time work. The key is understanding how to make these income sources work together, in a tax-efficient way, to support your lifestyle.

2. Expenses:

This is where things can get fuzzy. People often underestimate healthcare costs or forget about inflation. And sometimes, they forget to budget for fun—travel, hobbies, spoiling the grandkids. A good plan builds in flexibility and cushions for the unexpected.

3. Longevity:

Here’s the tricky part—no one knows how long they’ll live. But planning as if you’ll live to 85 and running out of money at 83? Not a great outcome. We typically plan for longer-than-average lifespans to help make sure your money lasts as long as you do.

Tax Planning Isn’t Optional

One of the most overlooked aspects of retirement is taxes. People assume their tax bill will drop once they stop working—but that’s not always the case. Required minimum distributions (RMDs) from tax-deferred accounts, Social Security taxation, and capital gains can all sneak up on you.

Proactive tax planning can help reduce how much Uncle Sam takes. That might mean Roth conversions, smart withdrawal sequencing, or coordinating income with Medicare premium brackets. The goal isn’t to pay zero taxes—it’s to keep more of your money working for you.

Don’t Just Plan to Retire—Plan to Stay Retired

Retirement isn’t a finish line. It’s the start of a new chapter that could last 30+ years. That’s a long time to go without a paycheck. It’s also a long time for your investments to work in your favor—or not.

That’s why portfolio design matters. It’s not just about growth anymore—it’s about income, stability, and risk management. You need a plan that evolves with the markets and with you.

So, Where Do You Start?

Retirement planning doesn’t have to be overwhelming. It just has to be tailored—to you, your goals, your assets, your values.

That’s what we do at Halter Ferguson Financial. We don’t believe in cookie-cutter strategies. We build custom financial plans designed to help you retire with clarity and confidence—and stay retired with peace of mind.

Final Thoughts

Whether you’re five years from retirement or already in it, it’s never too late to make smart moves. A plan you can trust changes everything.

Ready to talk about your retirement strategy?

We’d love to help you build a future that fits you—not just the generic version everyone else is selling.