Retirement Planning

Retirement Planning Built for Busy Professionals and Business Owners

Retirement is one of the biggest transitions you will ever make, and for many families it is also one of the most complex. Years of work at a large company, a medical practice, or a business you built yourself can leave you with multiple retirement accounts, stock plans, deferred compensation, a pension, and a home that has appreciated significantly. The question is not just whether you have saved enough. It is how to turn everything you have built into income that lasts.

At JTL Wealth Partners, retirement planning is the heart of what we do. Our tagline, Retirement, Simplified., reflects our approach: take a complicated picture, organize it, and give you a clear plan you can follow with confidence. Since 1994, our team has helped high-income earners and business owners prepare for, transition into, and enjoy retirement. Today we work with clients across Texas and in 25 other states, from our Plano headquarters and by video and phone.

When Can You Retire? Start With a Clear Answer

Most people we meet have a target date in mind but are not sure whether the numbers support it. We build a retirement projection that looks at your current savings, expected spending, Social Security, pensions, and other income sources, and then stress-tests it against different market conditions, inflation assumptions, and life expectancies. The result is not a guarantee, but it is a realistic view of your options: retire on schedule, retire early, work part-time, or adjust spending to give yourself more flexibility.

Our Retirement Planning Process

• Discover: We learn about your goals, family, career, and what you want retirement to look like.
• Organize: We gather statements, benefits information, and tax returns to build a complete picture of your finances.
• Analyze: We model cash flow, retirement income, taxes, and risk under several scenarios.
• Recommend: You receive a written plan with prioritized, specific action steps.
• Implement and monitor: We help put the plan into action and review it regularly as your life, the markets, and tax laws change.

Turning Savings Into a Retirement Paycheck

The shift from saving to spending is where many retirees feel the most uncertainty. We design a retirement income strategy that coordinates withdrawals from taxable accounts, tax-deferred accounts like 401(k)s and IRAs, and Roth accounts. The goal is to provide dependable monthly income while managing taxes over your lifetime, not just this year. We also help you decide how much to keep in cash reserves so a market downturn does not force you to sell investments at the wrong time.

Social Security, Pensions, and Medicare Decisions

When you claim Social Security can meaningfully affect your lifetime benefits, especially for married couples coordinating spousal and survivor benefits. We model claiming ages side by side so you can see the trade-offs. If you have a pension, we help evaluate lump-sum versus annuity options. For those retiring before 65, we plan for health insurance until Medicare eligibility, and for those enrolling in Medicare, we account for how higher income can increase premiums through IRMAA surcharges.

Taxes in Retirement: Federal Rules, State Differences

Federal taxes apply to IRA and 401(k) withdrawals wherever you live, and required minimum distributions (RMDs) can push retirees into higher brackets later in life. Under current law, RMDs generally begin at age 73 (75 for those born in 1960 or later). We look for opportunities such as partial Roth conversions in lower-income years between retirement and RMD age, thoughtful withdrawal sequencing, and charitable strategies like qualified charitable distributions. State rules differ: Texas has no state income tax, while many other states tax some or all retirement income, so we build your state’s rules into your plan. For Texas homeowners, we also factor in property taxes, homestead exemptions, and the over-65 school tax ceiling.

Note: JTL Wealth Partners and LPL Financial do not provide tax advice; we coordinate with your CPA.

Why Families Work With JTL Wealth Partners

Our firm has been helping families plan for retirement since 1994, with our headquarters in Plano, Texas. Our team is led by Chris Mankoff, CFP®, and we act as investment fiduciaries in advisory relationships . As an independent firm offering securities and advisory services through LPL Financial, we can recommend strategies based on your needs instead of a product lineup. We align your investment strategy with your retirement income plan so every piece works together.

Frequently Asked Questions

How much do I need to retire?

It depends on your spending, lifestyle, other income sources, and when you plan to retire. Rather than relying on a rule of thumb, we build a projection based on your actual numbers and goals.

When should I start retirement planning?

Ideally 5 to 10 years before you plan to retire, though it is never too late. Starting early gives you more options for saving, tax planning, and adjusting your timeline.

Does Texas tax retirement income?

No. Texas has no state income tax, so Social Security, pensions, and IRA withdrawals are not taxed by the state. Federal income taxes still apply, and property taxes remain a significant expense to plan for. If you live in another state, we factor that state’s rules into your plan.

Do I need to live in Texas to work with you?

No. We serve clients across Texas and in 25 other states, and many clients meet with us entirely by video or phone.

Should I convert part of my IRA to a Roth?

It can make sense in some situations, especially in lower-income years after retirement and before RMDs begin. We model the trade-offs and coordinate with your CPA before recommending a conversion.

Can you help if I retire before 65?

Yes. Early retirement requires planning for health insurance, accessing retirement accounts before 59½, and making savings last longer. We model those scenarios as part of your plan.

Wondering whether your retirement date is realistic? Book a complimentary discovery meeting by video, by phone, or at our Plano headquarters, or call 855-949-4400.