Create Your Own ‘Retirement Symphony’
A successful retirement plan surprisingly has quite a bit in common with a symphony orchestra. Get your own plan in harmony with these three tips.


For lovers of classical music, there is nothing like the sound of a great symphony orchestra. It’s amazing to see a finely tuned group of musicians bring together the many different tools of their craft, including brass, woodwinds, strings and percussion, for the purpose of creating music that moves and inspires. Playing each instrument on its own may be nice, but, when brought together to work in concert with each other, the sounds can be amazing!
You can make YOUR retirement AMAZING by thinking about your plan in the exact same way. Over the years, you may have created your wealth by being a diligent saver and deferring many of life’s pleasures. You may have accomplished this by using a wide array of investment and insurance tools, such as company 401(k)s, IRAs, brokerage accounts, real estate, life insurance, annuities, CDs, etc. Over time, you probably watched your net worth grow as the values of these tools individually each increased. However, as you prepare to cross that bridge into the retirement phase of life, you will be left to figure out how each of these “financial instruments” should be played together, to create your own “Retirement Symphony.”
Here are three steps I encourage you to take to get your concert started:

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
1. Get in tune with a ‘Retirement Mindset’
This can be one of the most important foundational things you can do as you prepare for this journey. Understand that if you created significant wealth throughout your career, you probably did so with an “Accumulation” mindset, focusing the majority of your efforts on being a regular saver and strategic investor using a wide array of tools and products.
When you cross that bridge into retirement, however, your mindset should change from one of “Accumulation” to one focused more on the “Preservation and Distribution” of that wealth. Investment growth is still a part of the equation, given that retirement could last over 30 years. However, you should expand your thoughts beyond just investment strategies to thoughts about strategies to address a combination of things, such as:
- Creating monthly income.
- Preserving wealth that can last your lifetime.
- Preparing for the high costs of care as you age.
- Customizing your legacy.
- And preparing for the possibility of higher tax rates in the future.
2. Get to know your ‘Instruments’
It’s important to understand the capabilities of ALL your financial instruments and how you can maximize the positive things they were designed to do. For example, ask yourself what you want from each of your investment accounts going forward. Is your goal to just get a specific rate of return each year because it looks good in traditional retirement planning simulations, OR is the growth you seek for a specific purpose? Those purposes could be for such things as immersing yourself in all your recreational “bucket list” adventures you’ve been dreaming of or just growing a portion of your wealth enough to reach your legacy goals.
What about some of the insurance tools that you own? Do you understand how to maximize the capabilities of all the various annuities and life insurance policies you purchased over the years? Some examples for using these tools may include creating a lifetime stream of monthly income or having money that can be distributed tax free. In addition, these tools could also be an unknown way to pay for the cost of long-term care or provide the opportunity to leave a significant legacy to loved ones.
Whatever your desires are, understand how to maximize your financial instruments to create those sweet sounds.
3. Work with the right ‘Conductor’
With any award-winning symphony orchestra, the right conductor will certainly be the centerpiece to bring all these sounds together. Without them, perfection cannot be achieved. The same can apply to having the right person to be the “conductor” of your retirement symphony.
If you have never worked with a financial adviser, the first thing you will need to determine is “when” and “if” you will relinquish the responsibility of your retirement plan design and oversight to someone else. For those who have grown their wealth on their own, this can be a difficult decision. However, ask yourself if you have the desire AND capacity to take on this responsibility as you get older. You may have enjoyed investing money and watching the market over the years, but are you ready to oversee the “Preservation and Distribution” phase of life?
Once you have decided to hire a financial adviser, finding the right one is next. Because the financial services industry is filled with thousands of advisers, here are a few things to consider:
- Are they a fiduciary?
- Does the adviser/firm specialize in retirement-specific planning?
- Is the relationship planning-focused or product-focused?
- How are they compensated for their services?
These are just a few of the many things to consider when determining who will be your conductor … too many to list here!
Use these steps to begin creating your own sweet music and “Retirement Symphony.”
Investment Advisory Services offered through Trek Financial, LLC, (Trek) an SEC Registered Investment Adviser. Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed, and past performance is no guarantee of future results. For specific tax advice on any strategy, consult with a qualified tax professional before implementing any strategy discussed herein.
Approval Number Trek 2243
Investment Advisory Services offered through Trek Financial, LLC, (Trek) an SEC Registered Investment Adviser. Information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed, and past performance is no guarantee of future results. For specific tax advice on any strategy, consult with a qualified tax professional before implementing any strategy discussed herein. Trek 21-115.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Nicholas Toman, CFP®, is a lead retirement planner and investment adviser with Empowered Financial Management, a firm that specializes in retirement planning for those individuals within five to seven years of retirement or who have recently retired and no longer wish to serve as their own financial adviser. Nicholas is a graduate of the University of Wisconsin-Whitewater with a BBA in accounting and has been a Certified Financial Planner since 2014.
-
Value vs Growth: Decoding These Two Ways to Invest Isn't So Simple
The difference between growth and value stocks isn't black and white.
-
How the Stock Market Performed in the First 6 Months of Trump's Second Term
Six months after President Donald Trump's inauguration, take a look at how the stock market has performed.
-
A Financial Planner's Prescription for the Headache of Multiple Retirement Accounts
Having a bunch of retirement accounts can cause unnecessary complications. Consolidation can make it easier to manage your savings and potentially improve investment outcomes.
-
Overpaying for Financial Advice? A Financial Planner's Guide to Fees
Take five minutes to review how much you're paying for financial advice. If you're overpaying, you could be better off with an adviser who charges a flat fee.
-
The Big Red Bucket Theory: A Financial Adviser's Simple Way to Visualize Your Retirement Plan
When you think about retirement, picture a big red bucket brimming with all the money you've saved. It's everything you've got, and it has to last you.
-
Are You a Doormat at Work? The Hidden Cost of Excessive People-Pleasing
I talked to the author of the upcoming book 'Fawning,' and she explains how the 'fawn' response can lead to blurred boundaries, difficulty asserting needs and a loss of self, with serious emotional consequences like anxiety and PTSD.
-
A Guide to Personalizing Your Retirement Plan for Maximum Impact
This strategy challenges conventional retirement rules of thumb by combining traditional savings, home equity and annuities to provide higher income and liquid savings and help cover long-term care costs.
-
How Advisers Can Rev Up Sales With Medicare
Help boost your revenue stream by integrating Medicare solutions into your financial practice for long-term client value and profits.
-
Take It From a Tax Attorney: This Is a Magic Multimillion-Dollar Tax-Saving Strategy
The qualified small business 1202 stock exemption is a $10 million exclusion that seems too good to be true and is often overlooked.
-
What Would You Like to Leave Behind? A Financial Planner's Guide to Family Wealth Discussions
Communicating about your assets and plans for passing them on increases clarity while preventing surprises and family disputes.