2600 Maitland Center Parkway
Truth is, many people spend more time planning their next vacation, than they spend planning their retirement.
At the same time, chances are, most - if not all of your retirement assets have been set aside and managed by the company in your Profit Plan. While you've been busy doing what you do, Publix has been providing this essential benefit for your future.
And at some crossover point in the future, Publix will hand the responsibility over to you, and on that day you will need to make one of the largest financial decisions you'll ever make.
For over 20 years, our knowledge and experience has helped Publix Associates like you navigate through critical planning decisions while helping you understand how they apply to you.
If this sounds like the type of advice you're looking for, contact us today to schedule a no obligation initial consultation
Here are a few of the questions we've been asked over the years, and beliefs Publix Associates have expressed that may or may not be accurate
"Can't I just leave my stock with Publix and live off the dividends?"
"Does your company hold Publix stock?"
"I want to keep my stock, so I'm going to roll it into an IRA so the IRS won't take half?"
"I waiting until I'm 59½ to retire so I don't pay a penalty."
"I can't retire until I'm 65 or I'll have to pay a penalty." (yes I've heard that one too)
"When I retire, I'm planning to take half and leave the other half at Publix."
"I've was told by another advisor I have to sell all my stock when I retire?"
"Publix has no debt."
"What about annuities (we get this one a lot)?"
Critical things to consider BEFORE you retire
Based on our experience and expertise, these are the most important things to consider when planning your retirement from Publix
How much income can I receive from my stock/investment portfolio without worrying about eventually running out of money?
How long does it need to last?
What about inflation?
What kind of unforeseen expenses will I have?
How much will health care cost, especially before age 65?
When should I take Social Security?
What happens to my stock if something happens to me?
How much risk am I willing to take or do I need to take to reach my goals?
If I diversify all or a portion of my stock, am I taking more or less risk?
How much Publix stock have I purchased on my own?
What is the "cost basis" of the stock inside and outside of the ESOP?
What is the Net Unrealized Appreciation (NUA) of the stock in your ESOP and 401(k)?
If I choose to keep all or a portion of my distribution in Publix stock, are there any specific tax advantages to not rolling it into an IRA?
If I choose to diversify my distribution, should I do it inside or outside an IRA?
If I choose to roll over my distribution into an IRA, how can I minimize the potential tax liability when it comes out?
What are the long-term implications of each of these choices on taxes, estate planning, income options, etc.?
Rolling or not rolling my retirement distribution into an IRA?
Diversifying or not diversifying my retirement distribution?
Do I need money immediately?
What is my age? Am I over 59½? Have I reached 55?
If so, did I separate from service before I turned 55?
What are my immediate income needs and my income needs in year 1 and 2 of retirement?
Publix' quarterly stock evaluations and re-pricing?
The distribution of dividends and the "dividend record date"?
Do I have to wait until I actually receive my dividend check before I retire?
Inventory and Year End Bonuses?
Tax year considerations.
1) How much Publix stock do you want to keep, and how much (if any) do you want to diversify?
2) If I choose to keep all or a portion of my stock, should I roll it into an IRA or not?
The amount of taxes and tax penalties you'll pay:
On your distribution
On any future growth
If and when you diversify
The amount of taxes your heirs will pay and how easy it will be to inherit
Where your retirement income will come from, and it's tax-ability
The amount of risk you're taking
Whether or not it will be protected from creditors (varies depending on which state you live in)
Whether or not you'll be forced to begin taking distributions at age 70½ (even if you don't need the money)*
But what if a year or two before you retired, the stock market experienced an major decline and your ESOP dropped by 10% or 20% like it did in 2008? How would that impact your retirement plans??
The diversification election seeks to help you at least partially avoid this scenario.*
4 ways to find out more:
So, what does Life after Publix look like for you? It all begins with a phone call.
In Central Florida at (407) 663-5020From South Florida at (561) 237-5007
*Important: the information contained in this section is provided for educational purposes only and should not be considered personal advice.
While the information is believed to be accurate, it remains the sole responsibility of Publix Associates to contact the Retirement Department of Publix to obtain confirmation of it's accuracy prior to separating from service and taking distribution of their retirement accounts. It is also the sole responsibility of Publix Associates to contact their tax and legal advisors to confirm the accuracy of any tax or legal issues mentioned here that may be applicable to their particular situation. The information in this section may not be transferable to other corporate retirement plans and should be verified before applying to your individual situation.
RetireFromPublix.com, LifeAfterPublix.com, LPL Financial and Crossover Point Advisors are not endorsed by or owned by Publix Super Markets Inc.
This page is only available to members of our community. Join us today and get full access.