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Craig Lundquist, MBA, ChFC®, CRPC®
VP of Wealth Management
651-773-2757
Kristin Becker
Senior Administrative Assistant
651-773-2821
Ideal Wealth Advisors
Located at Ideal Credit Union
8499 Tamarack Road
Woodbury, MN 55125
CRPC conferred by College for Financial Planning
January/February 2026
Retiring Early in 2026?
As your retirement date approaches, it's essential to develop a comprehensive strategy that aligns with your personal goals and desired lifestyle. Retirement is not merely a departure from the daily grind; it's an exciting chapter that offers the opportunity to delve into passions, create lasting memories, and build a legacy that reflects your values. To ensure a smooth transition into this new phase, consider the following essential factors.
Identify What Retirement Means to You
Is it about traveling to new destinations, immersing yourself in hobbies, or dedicating time to family? Articulating your aspirations will guide your financial and lifestyle adjustments. Think about your vision: would you like to spend your winters in a warmer climate? Or perhaps you envision a quieter life enriched with community service and local engagement. Knowing your goals will help you make informed decisions regarding your finances.Coordinate Your Income Sources
You (and your spouse or partner, if applicable) probably have various retirement investment vehicles at your disposal, such as 401(k), 403(b), 457 plan accounts, company pensions, and IRAs. You may have the proceeds from selling a business. Look at them as a whole and consider how to maximize them before you retire.If possible, make the maximum retirement savings plan accounts for 2025 (if you haven't already) and 2026 before you retire to pack away more retirement funds and ensure you are maximizing any employer matching contributions. Do the same with IRA contributions, if eligible. You can make an IRA contribution for 2025 of up to $7,000/$8,000 if age 50 or older until April 15, 2026. Contributions for 2026 can be made starting January 1.
Consider Taxes
Remember, most retirement plan distributions are taxed at your personal tax rates, while Roth account distributions are tax-free. Discussing your retirement assets with a trusted professional and how they can best serve you is a key step to a secure retirement. Another is aligning your retirement accounts to optimize your tax strategy. This could significantly impact your overall retirement income.Create a Legacy
Finally, consider how you want to leave a lasting impact. Whether through philanthropic efforts, heritage investments, or maintaining your family's wealth, having an estate strategy in place ensures that your wishes are honored and that your legacy remains intact.By understanding your retirement goals, optimizing your retirement savings accounts, reviewing your investments, and planning your legacy, you can embark on your retirement journey with confidence and excitement.
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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ideal Credit Union and Ideal Wealth Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Ideal Wealth Advisors, and may also be employees of Ideal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Ideal Credit Union or Ideal Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
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