Retirement Planning for Purdue Faculty & Staff

Your Purdue benefits are only one part of your retirement plan.

As you get closer to retirement, there are a lot of decisions that start happening at once. What should you do with your Purdue retirement accounts? When should you start Social Security? How much can you safely spend? And how can you keep taxes from taking a bigger bite than necessary?

We help bring those decisions together into one retirement plan.

Start with a Retirement Review

Local to Lafayette • Fiduciary Advice • No Commissions

Questions that often come up before retiring from Purdue:

  • When can I comfortably retire?
  • What should I do with my Purdue retirement accounts?
  • How do taxes change once my paycheck stops?
  • When should I claim Social Security?
  • How should all of my accounts work together?

Retirement from Purdue comes with a lot of moving pieces.

Your Purdue retirement accounts are important, but they’re only one part of the picture.

The decisions you make with your investments, taxes, Social Security, and retirement income can all affect one another.

Can I retire when I want to?

Having enough saved is important, but your account balance doesn’t tell the whole story. We also need to consider your spending, taxes, healthcare, Social Security, and how your investments will support you after the paycheck stops.

Which account should I spend from first?

You may retire with money spread across Purdue retirement plans, IRAs, Roth accounts, and other investments. The order you use them can make a meaningful difference in how much tax you pay over retirement.

How should my portfolio change?

Retirement doesn’t automatically mean your portfolio should become conservative. The bigger question is whether your investments are structured to support your spending, taxes, and long-term retirement plan.

Good retirement decisions rarely happen one at a time.

It’s easy to look at each decision separately: choose what to do with the 403(b), decide when to take Social Security, pick an investment mix, and figure out taxes later.

The problem is that one decision can change the others.

That’s why our work goes beyond simply managing investments. We help you look at your entire retirement so the decisions work together.

✓ Purdue retirement accounts, including 403(b), 401(a), 457(b), PERF 

✓ Social Security claiming decisions

✓ Roth conversions and lifetime tax planning

✓ Medicare / health insurance before 65

✓ Retirement income and withdrawal strategy

✓ Outside IRAs, brokerage accounts and investments

Purdue Retirement Resources

Our resources cover some of the big financial decisions Purdue faculty and staff often face as retirement gets closer, including taxes, healthcare, retirement income, and other Purdue-specific options.

Purdue Retirement Tax Planning

How retirement can create opportunities to manage taxes, withdrawals, Social Security, and future RMDs.

Coming Soon

Retiring From Purdue Before 65

How retirement income, Marketplace coverage, and tax decisions can interact before Medicare begins.

Coming Soon

Purdue’s VPR Program

Financial questions to consider when deciding whether Purdue’s Voluntary Partial Retirement program fits into your plan.

Coming Soon

Meet Your Advisor

Cody Lachner, CFP®, EA
Founder & Financial Advisor | Next Adventure Financial

I’m a Lafayette resident and Purdue alum who specializes in working with folks aged 50+ who want help making sense of the decisions around retirement, investments, taxes, and the transition away from a paycheck.

For Purdue employees, that often means coordinating decisions around your workplace retirement accounts, Social Security, taxes, and the timing of retirement.

CFP® Professional • IRS Enrolled Agent • Independent & Fiduciary • Based in Lafayette, Indiana

Want a second set of eyes on your retirement plan?

Our complimentary Retirement Review gives us a chance to look at where you stand today, answer some of your biggest retirement questions, and help you identify areas that may be worth improving before you retire.

STEP 1

Introductory Call

A short conversation to go over your big questions and learn more about your retirement plans.

STEP 2

Discuss the Big Decisions

We’ll talk through the specifics of your current plan to get organized and better understand your financial picture.

STEP 3

Leave With Clarity

We’ll review what we believe deserves attention now, what can wait, and whether working together makes sense.

Start With a Retirement Review

Not quite ready to talk?

You may find our newsletter useful as you prepare for/navigate retirement.

It includes topics around retirement, taxes, investments and other decisions that come up as you approach retirement.

© 2022 Next Adventure Financial. All Rights Reserved. | Website Designed by Cobalt & Sapphire