Think of retirement planning like assembling a puzzle.

Think of retirement planning like assembling a puzzle. Each piece matters on its own, but you don’t get the full picture until the pieces connect. These five pillars are the core “puzzle pieces” of a confident retirement blueprint—and when they fit together, you gain clarity, control, and peace of mind.

Puzzle Piece #1: Income Planning — Your Retirement Paycheck When you retire, your paycheck stops, but your expenses don’t. Income planning is about turning the resources you’ve accumulated into a reliable stream of cash flow, without putting unnecessary strain on your long-term plan. This puzzle piece typically coordinates: Social Security timing (claiming early vs. full retirement age vs. delaying) Social Pensions and other guaranteed income sources Annuities (when appropriate) Withdrawals from IRAs/401(k)s/brokerage accounts—with attention to required distribution rules A strong income strategy helps answer the real question: “How do I pay myself—monthly—so my money lasts as long as I do?”

Puzzle Piece #2: Investing — Growth, Preservation, and Risk Management Your investments are the engine of your retirement plan. But as you move closer to retirement, the goal often shifts from pure growth to a balance of growth + income + preservation. A retirement-focused investing approach often includes: Diversification aligned to your time horizon and comfort with risk A plan for market downturns (especially early in retirement) A disciplined process for rebalancing and making changes thoughtfully This puzzle piece exists so your investments aren’t just “doing something,” but working toward your specific retirement goals. Puzzle

Piece #3: Taxes — A Lifetime Expense (Not Just an April Issue) Taxes are one of the most underestimated retirement expenses. Many assume their tax bill will automatically drop in retirement—but without a proactive strategy, withdrawals can trigger unpleasant surprises (including higher brackets, taxable Social Security, and avoidable penalties). Tax planning is about positioning money in different “tax buckets” so you can choose how to take income later—and potentially reduce your lifetime tax burden. It also means staying aware of key rules like RMDs and distribution timing.

Puzzle Piece #4: Healthcare — The Wildcard That Can Reshape the Picture Healthcare costs in retirement are significant and often unpredictable. Medicare helps, but it doesn’t cover everything—and prescription costs, supplemental coverage, and out-of-pocket expenses can add up. For 2026, Medicare-related costs and rules (including drug cost changes) are important planning inputs. A strong plan may also include: An HSA strategy, where available, because HSAs can be a powerful planning tool A realistic approach to long-term care planning, since care costs have continued to rise. This is the “wildcard” puzzle piece—because one health event can impact every other pillar.

Puzzle Piece #5: Estate and Legacy Planning — A Thoughtful Conclusion (and a Gift to Your Family) Estate planning isn’t just for the ultra-wealthy. It’s about ensuring your wishes are carried out and your loved ones are cared for—without unnecessary confusion, delays, or avoidable costs. It may include: A will and/or trust Updated beneficiary designations (which can control assets outside probate) Powers of attorney and healthcare directives A plan to reduce administrative burden on family A thoughtful legacy plan brings clarity—and helps your assets move according to your values.  

The Pieces Work Together. These five puzzle pieces are interconnected.

A change in one area—like a health event, a tax rule shift, or a market downturn—can affect the others. That’s why a comprehensive plan doesn’t just focus on one pillar at a time. It ensures the whole puzzle still holds together when life changes.

If you’re working towards retirement (or already retired) and want to know whether your five puzzle pieces truly fit, consider a Retirement Puzzle Review.

In a review, we typically help you: Identify income sources and build a clear paycheck strategy Stress-test your plan for market and inflation scenarios Spot tax “pressure points” before they become costly Plan for healthcare and long-term care realities Confirm your legacy plan aligns with your intentions

If you’d like to start, reach out and request a Retirement Puzzle Review. We’ll help you see what’s solid, what’s missing, and what puzzle piece to place next. 480-513-1830

All the best, Charles Charles C. Scott AIF®, CDP®

ACCREDITED INVESTMENT FIDUCIARY®CERTIFIED DEMENTIA PRACTITIONER®

Sources: SSA, Medicare, IRS, AAB