Basics of Wealth Management: A Guide for Those Nearing Retirement

by | Jun 17, 2025 | Our Blogs

Does Wealth Management Help Me Move Towards Retirement?

As retirement approaches, your financial decisions carry more weight than ever. There’s less time to recover from missteps, and more riding on getting things right.

That’s where wealth management can make a meaningful difference.

Whether you’ve been saving for years or are trying to make a strong final push, we’ll help you understand how wealth management supports long-term financial security during the transition to retirement.

Table of Contents

What Does Wealth Management Mean?

Wealth management is a comprehensive approach to financial planning that goes far beyond picking stocks or managing a 401(k). A skilled wealth advisor helps you organize and optimize your entire financial life—including investments, taxes, estate planning, insurance, and legacy goals.

It’s often assumed that this service is only for the high-net-worth, ultra-wealthy folks. In reality, many people nearing retirement can benefit from this kind of holistic strategy, especially when there’s more complexity to manage and less room for error.

 If you’re approaching retirement and want to feel more confident about your future, working with a skilled advisor may be worth exploring.

Why Does Wealth Management Matter Near Retirement For Me?

According to recent studies, 77% of Americans are worried about their financial situation.

And this anxiety isn’t just limited to those with modest incomes.

Even people with significant assets may worry about how long their money will last, how to protect their investments, or how to pass wealth to the next generation.

That’s where retirement planning fits into the picture. Wealth advisors can help you build a strategy that considers:

  • Plan how much you’ll need annually

  • Prepare for required minimum distributions (RMDs)

  • Minimize tax surprises

  • Factor in rising healthcare costs and inflation

  • Create a legacy or charitable giving plan

Your future financial independence will grow by tackling these topics before you retire.

How Does Wealth Management Support My Financial Security?

A strong financial plan doesn’t just focus on income. It looks at how all the pieces work together.

That includes investment portfolios, retirement accounts, insurance, real estate, and other assets. A wealth management approach ties everything together to support long-term financial security.

  • For example, as part of your plan, a wealth advisor might help you:
  • Rebalance your investment portfolio to reduce risk as you age
  • Build a withdrawal strategy that keeps income flowing without depleting resources too early
  • Coordinate with your tax professional or attorney to make thoughtful decisions around gifting or estate transfers
  • Plan for long-term care or unexpected expenses

This kind of thorough approach becomes more important as you approach retirement—and when done well, it can make a big difference in how confident you feel moving forward.

What Should My Retirement Plan Include?

Retirement planning is not one-size-fits-all. Some people want to travel and explore new hobbies, while others focus on staying close to family and preserving their legacy.

Whatever your goals may be, a thoughtful strategy can help you make the most of your savings and income sources. It’s also a good time to think about how you want to use your assets over time.

For example will you:

  1. Rely mostly on Social Security?
  2. Draw income from multiple sources?
  3. Work part-time for a few years, or stop working entirely?

A strong plan considers not only your numbers, but also your lifestyle goals, priorities, and personal values.

How Do I Get Started With Wealth Management?

You don’t have to have everything figured out before you meet with a financial advisor.

In fact, many people start the wealth management process because they have questions or want a second opinion on their plan.

At Concenture Wealth Management, we work with clients nearing retirement to build strategies that support financial security and peace of mind. We help bring together all the moving parts—investments, taxes, income planning, and more to create a plan that works for your unique life.

Is a Retirement Strategy Worth Building Now?

Absolutely. The sooner you begin organizing your finances and building a strategy, the more options you have later.

Whether you’re years away from retirement or right around the corner, it’s never too early—or too late—to create a plan that works for your life.

If you’re thinking seriously about your future, we’re here to help.

Schedule a consultation with Concenture Wealth Management and let’s design a retirement strategy you can feel good about.

About The Author

Robert G. Gilliland, CRPC™ CEPA®Managing Director and Senior Wealth Advisor

Robert’s professional journey seamlessly blends individual excellence with exceptional team-building skills. While earning his Bachelor’s degree in Finance from Stephen F. Austin State University, he financed his education by managing a restaurant franchise — a role that honed his abilities in time management, leadership, and financial oversight. At Merrill Lynch, Robert quickly distinguished himself through […]

Learn more about Robert
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The information contained herein is intended to be used for educational purposes only and is not exhaustive. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but are intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax or financial advice. Please consult a legal, tax or financial professional for information specific to your individual situation. Material provided by Concenture Wealth Management.