Garcia & Cuadra P.A.

Independent Accountants and Tax Advisors

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Retirement Planning | Tampa

retirement planning 108107024It is easy to get lost in dreaming of retirement while forgetting that retirement planning plays a significant role in how our latter years will be spent in Tampa. At Garcia and Cuadra, we understand that a practical plan takes thought and action. There are many questions to answer and plenty of budgeting to do, and we are here to help you visualize a sensible path and help you stay on it.

Where Do I Start With Retirement Planning?

Knowledge is empowering, and the more you understand about retirement planning goals in general, the more powerful you will be when it comes to creating a path for your future. Dreams may seem impossible to achieve when they are vague, but once you look at them, calculate them, and plan to achieve them, they become attainable because you can finally begin to turn them into a reality.

Understand What Your Employer Offers

Most companies in Tampa have a variety of benefit options for you to choose from, and knowing what each means for you will allow you to choose what is right for your future. Take a look at your benefits and see if your company offers 401(k)s or traditional pension plans and take the time to learn more about them. If you have questions about what will be the best choice for you, we can help you understand how each option will benefit you, both in the short-term and the long-term.

Understand Your Needs, Requirements, and Dreams

Take time to visualize the latter part of your life: where do you plan to live, and what kinds of expenses are connected with the lifestyle you intend to have in Tampa? Having a good understanding of the bare minimum you must have to live your intended lifestyle is the first step.

Next, throw in your dreams. Do you want to travel, build, or create? No matter what your ideal lifestyle looks like, try to put a realistic price tag on it so that you can start your retirement planning with your dreams in mind. As with all budgetary matters, it is better to overestimate than it is to underestimate.

Begin the Budgeting Process

Having a strong vision in mind is an important step when starting the budgeting process. Saving for the sake of saving is difficult for most people, while putting money away for something concrete and highly desirable gives us the necessary motivation to actually stash those dollars away. We can then use our retirement planning goals to consider how we are spending money in Tampa today and have good reasons to make wise decisions so we can enjoy the fruits of our labors in the future.

How Do I Draft an Actual Plan?

Once you understand all of the benefits that your employer offers, have a good idea of how much you will need in the future, and have started thinking about your budget, you are in a good place to draft your plan of action. A draft should include:

1.       A timeline that includes when you want to retire and how much money you would like to have by that time.

2.       Your current budget, including your expenses and what you have to put away.

3.       Your investment strategy that defines how much you can invest, where to invest, and what programs are best for you.

Your tax advisors at Garcia and Cuadra are here to help you with your retirement planning needs in Tampa. We understand that the language, the programs, and all of the different options can be confusing. We are here to help detangle the complexities and create a strategy you can follow and track with ease.

Let Garcia and Cuadra, P.A. Help You Get Your Future in Order


Sure, retirement planning does not mean unexpected circumstances will not throw things off, but it does mean that you will be confidently walking towards your future dreams in Tampa. We can help you understand the major factors involved and explain the options available to you so that you can make informed choices that you will not later regret. Give our personal tax team at Garcia and Cuadra a call at 813-415-2431 to start drafting your strategy today.