Mike Dalsaso has been an independent IRA Advisor and Insurance Broker in Durango, CO since 1999. Mike earned his Bachelor of Science, Business Administration, from Colorado State University. He has focused his attention to the successful management of financial risk earning his LUTCF and his ARM designation, both respected industry designations. Mike’s specialty is helping those at, or close to retirement make the right decisions to guarantee their money will live as long as they do! This includes Income Planning, Reducing Taxes, and increasing Net After-tax Income.
Mike's focus is to help his clients plan for the most essential realities of retirement planning:
Mike, a Honorably Discharged US Naval Officer, served our country and now serves his community and his family. He is a Past President for the S/W Colorado Chapter of NAIFA (Natl. Assoc. of Insurance & Financial Advisors) and a member of NAFA (Natl. Assoc. of Fixed Annuities).
Mike is an avid skier, backpacker, and fisherman. He is involved with Church, Bible Study, and 2 Christian Men’s Groups. He is continually growing and maturing spiritually, mentally, and physically, all key components of his life.
He is especially proud of his daughter who has her master’s degree in electrical engineering from the University of Colorado.
Most experts recommend aiming for income that replaces 70-80% of your pre-retirement earnings, but every individual's number is unique. The best approach is to carefully estimate your future expenses, factor in your lifestyle goals, and work with a professional to make sure your plan stays on track.
You can start receiving Social Security as early as age 62, but waiting until your full retirement age—or even age 70—means a larger monthly benefit. The right time depends on your health, retirement goals, and whether you plan to keep working. A personalized strategy can help you maximize lifetime benefits.
It's wise to build a retirement income plan that protects against market downturns. This might mean diversifying your investments, keeping some assets in safer accounts, and developing a flexible withdrawal strategy so you don't have to sell investments in a down market.
With people living longer than ever, this is a real concern. Experts recommend creating a formal withdrawal plan and considering income options like annuities or laddered bonds. Reviewing your plan regularly and making adjustments as needed is the best defense against running out of funds.
Retirement income can come from a mix of taxable, tax-deferred, and tax-free sources. Strategic withdrawals, smart use of Roth accounts, and considering the order in which you tap assets can help you keep more of what you've saved. Consulting a financial pro or tax advisor is always worthwhile.
Healthcare can become one of your largest expenses in retirement. Start by understanding what Medicare covers, and consider supplemental coverage for additional needs like dental, vision, and long-term care. Building these costs into your retirement plan helps prevent unpleasant surprises.
As you approach and enter retirement, most professionals recommend gradually shifting to a more conservative investment mix. That means protecting your nest egg while still allowing for some growth to keep up with inflation. Regular check-ins with an advisor will help you stay in the sweet spot for your stage of life.
