Experienced Financial Advisor in Suit

Tim: Securities Licensing in MA, RI, NH, CT, ME, FL & Nationwide Financial Planning Services

Tim has offices located in Boston and South Dartmouth, Massachusetts. He is licensed to handle securities in six states, including Massachusetts, Rhode Island, New Hampshire, Connecticut, Maine, and Florida. Moreover, he can provide investment advisory and financial planning services to clients in all 50 states.

I’m an Investment Adviser Representative at Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser (RIA) in Fairfield, IA. I’m also registered with Cambridge Investment Research, Inc., an independent broker-dealer with 3,000+ representatives nationwide.

Clients can pay a fee-only or hourly rate based on wealth management and financial and retirement planning needs. Smaller accounts, such as Roth IRAs, 403b accounts, or 529 college savings plans, may require commission-based payments.

The first appointment can be in person, by phone, or via Zoom. Subsequent meetings can be a mix of in-person, phone, email, or Zoom.

Retirement Income Strategies | Tim Hayes Financial Advisor

Summary: Learn the retirement strategy of delaying Social Security and strategic IRA withdrawals from Stanford University's Center on Longevity. Get expert advice from Tim for a secure retirement.

To try to develop the most effective retirement income strategy for the middle class, Stanford University’s Center on Longevity analyzed and compared 292 scenarios.

Its conclusion is a two-prong strategy. First, delay taking social security until age 70 by working either full- or part-time. Second, withdraw annually from your IRAs or 401(k)s based on the IRS’s minimum requirement tables.

Maximizing Social Security Benefits Through Delayed Retirement Strategy

Every year you wait after age 66, your social security benefit goes up by 8%. For example, if you are eligible for $30,000 at 66 but are waiting until you reach age 70, that benefit increases by 32% to $39,600. (After age 70, there is no reason to wait because the 8% stops accruing.)

Future cost of living adjustments (COLAs) are then based on the higher amount, which is $39,600 in this example. If the Social Security Administration announces a 2% COLA, your amount next year will be $40,392.

The study recommends that married couples have the higher-earning spouse delay taking his or her social security until age 70 while having the lower-earning spouse begin taking social security when he or she hits the full benefit, which is usually age 66.

That way, if the higher-earning spouse dies, the lower-earning spouse’s social security jumps to the amount the higher-earning spouse was receiving.

Strategic Retirement Plan Withdrawals

The second prong is supplementing your social security by withdrawing from your IRAs or 401(k)s based on the IRS’s required minimum tables. For example, the table might require you to take out 4% of your account value at age 73. If your IRA is worth $100,000, you would withdraw $4,000.

The amount you withdraw each year will change as your account’s value changes and the percentage required to take out goes up.

They recommend keeping between 50 to 100% of your portfolio in stocks. In good years, your withdrawal amount will be higher than when the stock market is down.

The study is based on working until age 70. That way, you will not deplete your IRAs or 401(k)s as you wait. If someone fully retires at age 66, the benefits of waiting to take your social security get more complicated.

Financial Planner Michael Kites did a study that found it takes to age 80 to break even from having to use retirement assets between ages 66 to 70.

Tim's Financial Services Designations

Individuals who hold the AIF® designation have:

  • Completed the AIF® Designation Training;
  • Passed the AIF® designation exam;
  • Met the designation’s prerequisites and qualification and conduct standards;
  • Accrued a minimum of six hours of continuing professional education, with at least four hours coming from fi360-produced sources;
  • Attested to a code of ethics.

Individuals who hold the CRPS® designation have:

  • Completed a course of study encompassing design, installation, maintenance and administration of retirement plans;
  • Passed an end-of-course examination that tests their ability to synthesize complex concepts and to apply theoretical principles to life situations;
  • Pledged adherence to the CRPS® Standards of Professional Conduct, and are subject to a disciplinary process in that regard.

CRPS® designees renew their designation every two years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct, and complying with self-disclosure requirements.

Individuals who hold the AWMA® designation have:

  • Completed a course of study encompassing wealth strategies, equity-based compensation plans, tax-reduction alternatives, and asset-protection alternatives;
  • Passed an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations;
  • Agreed to adhere to the AWMA® Standards of Professional Conduct, and are subject to a disciplinary process in that regard.

AWMA® designees renew their designation every two years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct, and complying with self-disclosure requirements.

CFS designation is awarded upon passing an examination on mutual funds, ETS, REIT’s, closed-end funds, and similar investments. Advanced studies on topics include:

  • Fund analysis and selection;
  • Asset allocation;
  • Portfolio construction;
  • Sophisticated investment strategies for risk management, taxes, and estate planning.

San Diego, CA, November 13, 2020 – The Institute of Business & Finance (IBF) recently awarded Tim Hayes with the only nationally recognized tax designation, CTS (Certified Tax Specialist). This graduate-level designation is conferred upon candidates who complete an 135+ hour educational program focusing on personal income taxes and methods to reduce tax liability. The combined top state and federal bracket can easily exceed 40%.

 

San Diego, CA, September 1, 2020 – The Institute of Business & Finance (IBF) recently awarded Tim Hayes with the estate planning designation, CES™ (Certified Estate and Trust Specialist™).

This graduate-level designation is conferred upon candidates who complete a 135+ hour educational program focusing on trusts, wills, probate, retirement benefits, caring for children, and what should be done after the death of a loved one. Over $50 trillion is expected to pass from one generation to another during the next half-century.

The Accredited Portfolio Management AdvisorSM, or APMA® program, is a designation program for financial professionals. The program educates advisors on the finer points of portfolio creation, augmentation, and maintenance. Students will gain hands-on practice in analyzing investment policy statements, building portfolios, and making asset allocation decisions.

San Diego, CA, May 12, 2020 – The Institute of Business & Finance (IBF) recently awarded Timothy Hayes with the only nationally recognized annuity designation, CAS® (Certified Annuity Specialist®).

This graduate-level designation is conferred upon candidates who complete a 135+ hour educational program focusing on fixed-rate and variable annuities. Several trillion dollars are invested in annuities; it is estimated that at least one-third of all annuity contracts are not titled correctly.

The NSSA® Certificate Program is a nationally recognized standard of competent and ethical Social Security planning, education and training.Professional advisors who earn the NSSA® Certificate benefit society by helping individuals and couples improve their financial security during retirement years through maximization of Social Security benefits.

Implications of Traditional Pensions and Social Security for Public Employees

The study focused on people working for companies that no longer offer traditional pensions, so there is a need for Social Security to replace it.

Most public employees still have traditional pensions. If they retire at age 66 or younger, pension might make it easier to wait for the more significant Social Security payout at age 70.

Other public employees work in one of the fifteen states where some or all their municipal employees do not contribute to Social Security. (Some may become eligible through other jobs.) For them, because of the Windfall Elimination Law, which reduces their Social Security payment by around 55%, why wait until age 70 to get a more significant number decreased by 55%?

Married public employees in those states should be wary of their spouse waiting until age 70 to start taking Social Security, especially if the spouse fully retires at 66.

Why deplete retirement resources, especially if the public employee pension provides a lifetime income guarantee to the spouse upon the death of the public employee? A second law, the Government Pension Offset, means the public employee gets little to none of the spouse’s Social Security after that spouse dies.

Choosing a Retirement Advisor: Key Questions to Ask

I am, but it is less relevant today after the changes in rules from the SEC.

I understand Social Security and timing well but cannot provide specific tax advice. Who are your typical clients? Do you have a client profile you can share?

Knowing what to ignore

Boston, MA Retirement Advisor Near Me

A – Retirement Advisor Near Me
  • Abington 
  • Acton
  • Amesbury 
  • Andover
  • Arlington 
  • Ashland 
  • Attleboro 
  • Avon 

B – Retirement Advisor Near Me

  • Bedford 
  • Bellingham
  • Belmont 
  • Beverly – I grew up in Beverly
  • Billerica 
  • Boston – I Live in the South End
  • Boxford 
  • Braintree
  • Brookline

C – Retirement Advisor Near Me

  • Cambridge
  • Canton 
  • Carlisle 
  • Carver 
  • Chelmsford 
  • Cohasset
  • Concord 

D – Retirement Advisor Near Me

  • Danvers 
  • Dartmouth – I have a home in S Dartmouth
  • Dedham 
  • Dover
  • Duxbury

E – Retirement Advisor Near Me

  • Edgartown

F – Retirement Advisor Near Me

  • Fall River 
  • Fairhaven
  • Foxborough 
  • Framingham 
  • Franklin
  • Freetown

G – Retirement Advisor Near Me

  • Georgetown
  • Gloucester 
  • Groton

H – Retirement Advisor Near Me

  • Hamilton
  • Hanover 
  • Harvard 
  • Haverhill – I lived in Haverhill for five years
  • Hingham
  • Holliston 
  • Hopkinton 
  • Hudson 

I – Retirement Advisor Near Me

  • Ipswich 

L – Retirement Advisor Near Me

  • Lexington 
  • Lincoln 
  • Lowell 
  • Lynnfield 

M – Retirement Advisor Near Me

  • Malden 
  • Manchester by the Sea
  • Mansfield 
  • Marblehead – I worked at the Corinthian Yacht Club during college
  • Marion
  • Martha’s Vineyard
  • Marshfield
  • Mattapoisett
  • Maynard
  • Medfield
  • Melrose 
  • Merrimac
  • Methuen 
  • Middleborough 
  • Middleton
  • Milton 

N – Retirement Advisor Near Me

  • Nantucket
  • Natick 
  • Needham
  • New Bedford
  • Newburyport 
  • Newton 
  • North Andover 
  • North Attleborough 
  • Northborough
  • North Reading 
  • Norton 
  • Norwell
  • Norwood

P – Retirement Advisor Near Me

  • Peabody
  • Plymouth 
  • Provincetown

R – Retirement Advisor Near Me

  • Randolph 
  • Reading
  • Revere 
  • Rockland
  • Rockport

S – Retirement Advisor Near Me

  • Salem- I lived in Salem after college
  • Sandwich
  • Saugus 
  • Scituate 
  • Sharon
  • Sherborn
  • Somerville
  • Southborough
  • Stoneham 
  • Stoughton
  • Sudbury 
  • Swampscott

T – Retirement Advisor Near Me

  • Tewksbury 
  • Topsfield
  • Tyngsboro 

W – Retirement Advisor Near Me

  • Wakefield
  • Walpole
  • Waltham
  • Wareham
  • Watertown 
  • Wayland
  • Wellesley 
  • Wenham
  • Westford
  • Weston 
  • Westport 
  • Westwood
  • Weymouth 
  • Wilmington 
  • Winchester
  • Woburn

Massachusetts Financial Advisor Services Near Me

  • Investment Management
  • Rollover IRAs, Traditional IRAs, Roth IRAs
  • Comprehensive Financial Planning
  • Life Insurance Needs Analysis
  • Non-Qualified Deferred Compensation
  • Defined Benefit Pension Plans
  • Key Employee Insurance
  • Fixed & Variable Annuities
  • Mutual Funds & Exchange Traded Funds (ETFS)
  • Term, Whole Life, Universal Life & Variable Life
  • 401k Plans, 403b Plans, Profit-Sharing Plans

 

These are the opinions of Financial Advisor Tim Hayes and not necessarily those of Cambridge Investment Research. They are for informational purposes only and should not be construed or acted upon as individualized investment advice. Content provided via links to third-party sites should not be considered an endorsement of content that we cannot verify completeness or accuracy of.

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Fee-Based Financial Planner, Hourly Rate, or Commission

Most clients pay fee-only or an hourly rate. The size and complexity of the client’s wealth management and financial and retirement planning determine that fee.

Hourly Fee Only

$ 150 /Hour
  • Fee-only Fiduciary Advisor
  • Financial Advisor
  • Financial Planning
  • Advisor Financial Planning

Fee-Only

Varies
  • Fiduciary Advisor
  • Fee Based
  • Fee-Only Financial Planning
  • Financial Planning Services

Commission

Varies
  • Financial Professional
  • Best Interest Regulation

Book a Free Virtual or In-Person Consultation with Tim!

Tim Hayes: Experienced Financial Advisor Known for Excellent Communication and Service

Cindy Primett

Client

"I have been very satisfied with Tim as a Financial Advisor. He is personable and pleasure to work with, is knowledgeable about investments, and his recommendations seem to be very much in my best interest. He's always made himself available if I have questions. He also expedites any requests I have for withdrawal from my account."

"Over the past 30 years I have had three different account mangers watching over my tax sheltered annuities. I can say without reservation that Tim has been the best communicator of them all. He made my transition to securing my required allotments annually very easy because he “answers his phone”. He has taken the worry out of its for me."

Dennis C. Bentley

Client

Roger & Kathleen Tuveson

Client

"Tim Hayes has been our financial advisor for many years and we have found our dealings and communications with him to be both helpful and informative. Tim is personable, attentive, knowledgeable, articulate, and proactive. It has been our honor to entrust our retirement investments to him and we highly recommend him for his financial services."

These testimonials are based upon an individual client experience and may not represent the experience of other customers, and should not be considered a guarantee or indication of future performance of success.

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