Retirement Planning Resources & FAQ

Start with a clear picture of your current savings, expected Social Security benefits, and monthly retirement expenses. Florida Retirement Solutions offers a free 30-minute consultation where we help you map out exactly where you stand and what steps to take next.

Income for life means a guaranteed monthly payment that continues no matter how long you live. It is typically structured through annuities or other insurance products. This solves the biggest retirement fear: outliving your money.

A common guideline is 10–12× your annual salary, but Florida's zero state income tax significantly reduces your retirement income need compared to other states. The exact number depends on your lifestyle, healthcare needs, and Social Security benefit. We calculate your specific number in your free consultation.

The Florida Retirement System (FRS) is the state's public employee pension program covering teachers, state workers, county employees, and public school staff. FRS members choose between a traditional Pension Plan (defined benefit) and an Investment Plan (defined contribution). This is one of the most important financial decisions FRS members make — and the choice is often irreversible.

Portfolio restructuring reviews your current investments for hidden fees, excess risk, and misalignment with your retirement timeline. As you approach retirement, your portfolio should shift toward more conservative, protected growth vehicles. Many clients discover they are taking far more risk than they realize — restructuring corrects this before a market downturn can damage their retirement.

Florida has no state income tax, which means your Social Security, pension, IRA distributions, and investment income are only taxed at the federal level. Compared to states like New York or California with 8–13% state income taxes, Florida retirees save thousands per year. There is also no estate tax and no inheritance tax in Florida.

Yes. If you have a 401(k) from a previous employer that you left behind, it still belongs to you. We can help you locate forgotten accounts, verify balances, and roll them into a new retirement vehicle — penalty-free when done correctly.

Look for an independent advisor who is not tied to any one company or product line. Ask how they are compensated — commission-only advisors have incentives to sell certain products. Florida Retirement Solutions is fully independent, comparing options from 88 companies to find what is best for you.

A pension is provided by an employer (like the FRS Pension Plan) and pays a fixed monthly benefit based on years of service and salary. An annuity is an insurance product you purchase with your savings that provides a guaranteed income stream. Both create predictable lifetime income, but they work differently. We explain both clearly and help you determine if an annuity is right for your situation.

Absolutely. We specialize in helping FRS members — including teachers, university faculty, state employees, county workers, and public school staff — navigate their retirement decisions. FRS planning requires specialized knowledge of the pension vs. investment plan choice, DROP program timing, and building income alongside state benefits.

You have several options: leave it with your former employer (if allowed), roll it into an IRA, roll it into a new employer's plan, convert it to an annuity, or take a lump sum distribution (though this typically triggers taxes and penalties). The best choice depends on your tax situation, income needs, and retirement timeline. We help you compare all options.

You can start Social Security as early as 62 or delay until 70. Each year you delay past your full retirement age increases your benefit by 8%. The optimal strategy depends on your health, other income sources, spousal benefits, and how long you plan to work. This is a major retirement decision we analyze in your free consultation.