Living in retirement
An effective retirement strategy can help you plan how to spend and invest your savings so you’ll have a reliable cash flow and potential to generate additional income to help you enjoy the retirement years. Here are some key steps to consider:
Plan your spending
Create a financial plan based on your goals and spending, and consider how long you’ll need your money to last.
Build a portfolio that considers your desired growth, income, risk and timeline.
Tap into your portfolio in tax efficient ways to generate a reliable income stream.
Monitor your plan
Continuously monitor and adjust your plan and portfolio to reflect your needs, while monitoring the market or life changes.
Learn more about financial goal planning.
The IRS requires you to take RMDs from all of your tax-deferred retirement accounts when you reach a certain age. The Required minimum distribution is the minimum amount you must withdraw from your account each year. Learn more at investor.gov.
Social Security can provide you added financial protection while living in retirement. Eligibility begins at age 62, but you can decide when you want to start receiving your benefits. Know your Social Security benefits and your statements. Learn more at ssa.gov.
Medicare doesn’t start until age 65 and won’t cover everything. With Medicare or other healthcare insurance, you may be responsible for costs such as insurance premiums and out-of-pocket expenses your insurance doesn’t cover, like a deductible, copay or coinsurance.
Health plans from the Health Insurance Marketplace (www.healthcare.gov)
Employer retiree insurance (This is most common with federal, state and municipal employees.)
Insurance from your spouse’s employer
You can also use money saved in a Health Savings Account (HSA) to pay for insurance premiums and other qualified medical expenses tax-free.
Managing medical and healthcare costs
Working in retirement
Whatever is important to you while living in retirement, we’re here to support.
Begin to experience the benefits of working with us by scheduling a review with an HSBC Financial Professional.
Speak to your Premier Relationship Manager to connect you with a Financial Professional.
Log on to access your Premier Relationship Manager’s details.
Investment, annuities, and variable life insurance products are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. In California, HSI conducts insurance business as HSBC Securities Insurance Services. License #: OE67746. HSI is an affiliate of HSBC Bank USA, N.A. Whole life, universal life, term life, and other types of insurance are offered by HSBC Insurance Agency (USA) Inc., a wholly owned subsidiary of HSBC Bank USA, N.A. Products and services may vary by state and are not available in all states. California license #: OD36843.
Investments, Annuity and Insurance Products:
ARE NOT A DEPOSIT OR OTHER OBLIGATION OF THE BANK OR ANY OF ITS AFFILIATES
ARE NOT FDIC INSURED
ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
ARE NOT GUARANTEED BY THE BANK OR ANY OF ITS AFFILIATES
MAY LOSE VALUE
All decisions regarding the tax implications of your investment(s) should be made in consultation with your independent tax advisor.
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United States persons (including U.S. citizens and residents) are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their U.S. and non-U.S. accounts - including, for example, Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts ("FBAR")). U.S. persons should consult a tax adviser for more information.
1 HSBC refers to HSBC Bank USA, N.A., HSBC Securities (USA) Inc. and HSBC Insurance Agency (USA) Inc. HSBC Bank USA, N.A. provides banking products and services. HSBC Securities (USA) Inc. provides investment products and services and is an affiliate of HSBC Bank USA, N.A. HSBC Insurance Agency (USA) Inc. provides insurance products and services and is a wholly owned subsidiary of HSBC Bank USA, N.A.
2 Financial professional refers to Financial Consultants (FCs), Investment Counselors (ICs), and High Net Worth Relationship Managers (HNWRMs). All offer bank products through HSBC Bank (USA) N.A., investments and certain insurance products, including annuities, are offered through HSBC Securities (USA) Inc. and traditional insurance products are offered through HSBC Insurance Agency (USA) Inc.