4 Steps to an Early Retirement

At Willamette Wealth Partners, we understand that early retirement is a reality for many, often due to unforeseen circumstances like health issues, caregiving responsibilities, attractive retirement packages, or job changes. Preparing for this phase requires careful planning and strategic decision-making.

Step 1: Evaluate Your Retirement Package

Understanding the structure and implications of your retirement package is crucial. This includes grasping the payout structure, tax consequences, and pension options. A comprehensive analysis by a financial planner ensures you make informed decisions that align with your long-term goals.

Step 2: Align Retirement Package with Income Plan

Integrating your retirement package with your overall financial plan is essential. Consider the timing of significant windfalls and tax implications, especially when selling high-value assets. Coordinate monthly pension amounts with Social Security benefits and other income sources for optimal financial balance.

Step 3: Diversify Your Tax Landscape

For high income earners, the longevity of retirement savings is linked to effective tax mitigation. Assess the distribution of pre-tax, after-tax, and tax-free investments in your portfolio. A tax-efficient withdrawal strategy, crafted with the help of a financial planner, can enhance the durability of your retirement assets.

Step 4: Employer Stock Options

For those with employer stock options, deciding between Net Unrealized Appreciation (NUA) or a rollover is a pivotal choice. This decision can lead to significant tax savings. It’s important to navigate this process with informed advice to seek optimal financial outcomes.

Willamette Wealth Partners is dedicated to assisting clients through the complexities of early retirement planning. Our expertise helps ensure a smooth transition into this new chapter of life, safeguarding financial stability and success.

Contact us today to explore how we can support you in achieving a retirement filled with joy, security, and fulfillment—whether that’s next year or in the next decade.

 

By Adam Coughlin written in collaboration with Lexicon Advisor Marketing

Heather Dopp

Operations Manager

Heather grew up in Sun Valley Idaho and moved to Eugene in 2001. She has a bachelor’s degree in business administration from the Lundquist College of Business at the University of Oregon. Before joining the Willamette Wealth Partners team, Heather worked as an office manager. In her past role, her biggest accomplishment was assisting her company in becoming the second business in Lane County to achieve Voluntary Protection Program status from Oregon OSHA.

Heather and her husband Josh have a daughter named Leila. Heather’s biggest passion is spending time with her family and traveling to new places. She loves rafting, fishing and exploring Oregon rivers with her friends and family during the summer months. Heather also enjoys cooking and trying all kinds of cuisines from around the world.

Adam R Coughlin

Certified Financial Planner™

Adam began his career in financial planning in 2019 in Rochester, Illinois, working for an investment advisor and retirement education company before moving to Oregon to work at Willamette Wealth Partners. Prior to his career change, Adam worked in information technology and insurance.

Adam graduated from Illinois State University with a B.S. in Finance as well as a minor in Financial Planning and was chosen by faculty as ISU’s Outstanding Senior in Finance and Outstanding Financial Planning Student for his graduating class. In 2021, he placed Top 5 in the Financial Planning Association’s Case Study Competition. He is a CERTIFIED FINANCIAL PLANNER™.

Outside of work, Adam enjoys fishing, going to the gym, playing with his two Siberian Forest Cats, and exploring new restaurants with his amazing wife Kelsey.

Locke Bielefeldt

Certified Financial Planner™

Locke grew up in the Willamette Valley, where he watched his father, Doug, build a thriving financial planning business. After witnessing the impact, a financial planner can have on client’s lives, Locke became inspired to seek a BBA in finance at The University of Portland.

Before returning to his hometown of Eugene, Locke worked in leadership and consultant roles focused on small business and startup finance. He now assists clients in pursuing their financial goals through independent and collaborative advice, customized investment strategies, and financial planning.

Outside of work, Locke enjoys traveling, cooking all kinds of foods, reading science fiction, and spending time with his wife, Amelia.

Locke has been listed in Forbes’ “Top Next-Gen Wealth Advisors Best-in-State” for 2023 as well as Forbes’ “Best in State Wealth Advisors” for 2024.

The Forbes Best-in-State Wealth advisor ranking, developed by SHOOK Research, is based on in person and telephone due diligence meetings and a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK Research receives a fee in exchange for rankings.