Retirement Planning

North Shore Asset Management provides retirement planning services designed to educate clients about their options to help meet current financial needs, achieve long-term financial goals, avoid common retirement-planning mistakes, and enjoy life more confidently.

Our goal is to teach clients how to enjoy reliable portfolio growth. This growth is achieved through more conservative investment options designed to help generate income through interest and dividends, regardless of market conditions. This is income that can be spent, or reinvested for dependable “organic” portfolio growth.

Required Minimum Distribution

Our team will help you with the required minimum distribution for your specific retirement account(s) each year. These retirement accounts include traditional IRAs, Rollover IRAs, Simple IRAs, 401(k)s, and more. This withdrawal now begins when you reach age 72. We help ensure our clients understand and meet the necessary requirements for their required minimum distribution. This includes calculating the required minimum amount for withdrawal and when the beginning dates for withdrawal will take place.

Tools for Your Estate and Tax Planning Needs

Our clients have many diverse estate and tax issues they may wish to address through estate planning. Some clients want to maximize the wealth they have built for their families, while others want to donate the bulk of their estates to charitable organizations. Many clients have built large IRA and 401(k) plans and do not want to pass up to 75% in potential taxes of those assets to their families. No matter what your individual planning needs are, we can help you accomplish your goals for the future. An important goal for us is helping you significantly reduce taxes incurred when you pass on your financial legacy.

Health Insurance

Part of preserving your financial future involves making sure you have adequate health insurance. Our network of insurance agents are specially trained in health and Medicare supplement insurance. This includes the selection of appropriate coverage of long term health care. Our firm is contracted with several insurance companies and is positioned to help find you the appropriate rate and coverage for your unique needs. You will rest assured that you have suitable coverage and a great, affordable rate.

Legacy and Wealth Preservation

You have worked a lifetime to build your family’s legacy and wealth. Preserving that wealth is a very important goal we can help you achieve. We want to help you make certain your family’s financial future is better protected by helping you leave a greater legacy. It is our goal to help you pass on your estate to the rightful parties you designate through a sound plan that safeguards you and your family while potentially minimizing taxes. We can also prevent the erosion of  wealth due to the expense of long term care.  Our clients can enjoy wealth preservation and legacy enhancement through our sound and professional advice. You will be able to enjoy a simple, time-saving, and effortless experience working with our firm.

Annuities and Life Insurance

Choosing between an annuity and life insurance can be a daunting task for those not well-versed in their differences and benefits.

The main goal of an annuity is to plan for longevity. They are basically a way to help ensure that you have enough income for the rest of your life.

Life insurance policies are the exact opposite of annuities. Life insurance policies provide safety to your loved ones in the unfortunate event of your passing. These policies will help protect your loved ones’ financial future. There are a variety of different life insurance options, which can cause a great deal of confusion when attempting to choose the right policy for your specific needs.

Whether you need an annuity or a life insurance policy, there may be costs that limit the amount of returns you receive. Our team’s main goal is to help ensure you earn the most from your annuity or life insurance policy. We will work with you to develop a solid financial plan for you and your family for retirement and passing.

Investment Strategies

There are numerous investment strategies available to you. This makes it difficult to decide which strategies will help you earn the highest return on your investment. You must consider the amount you plan to invest, the level of risk you are comfortable taking, and what mix of investment strategies will serve you the best. At North Shore Asset Management, our team will listen to your desires for investments and explain the best options for your specific financial situation. Together, we will develop and execute a comprehensive investment strategy.

Tax Planning for Income

The goal of income tax planning is to help minimize your federal income tax liability. You can achieve this in different ways. Typically, though, you’d look at ways to help reduce your taxable income, perhaps by deferring your income or shifting income to family members. You should also consider deduction planning, investment tax planning, and year-end planning strategies to lower your overall income tax burden.

By deferring (postponing) income to a later year, you may be able to help minimize your current income tax liability and invest the money that you’d otherwise use to pay income taxes. When you receive the income, you may be in a lower income tax bracket.

Certain retirement plans can help you postpone the payment of taxes on your earned income. With a 401(k) plan, for example, you contribute part of your salary to the plan, paying income tax only when you withdraw money from the plan (withdrawals before age 59½ may be subject to a 10 percent penalty). This allows you to postpone the taxation of part of your salary and take advantage of the tax-deferred growth in your investment earnings.

There are many other ways to postpone your taxable income. For instance, you can contribute to a traditional IRA, buy permanent life insurance (the cash value part grows tax deferred), or invest in certain savings bonds. You may want to speak with a tax professional about your tax-planning options.


  • Shift income to your family members to lower the overall family tax burden
  • Deduction planning involves proper timing and control over your income
  • Investment tax planning uses timing strategies and focuses on your after-tax return
  • Year-end planning focuses on your marginal income tax bracket


Our company does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials.

The information in these materials may change at any time and without notice. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary; therefore, the information should be relied upon when coordinated with individual professional advice. Past performance is no guarantee of future results.

Diversification does not ensure against loss.