About UsOur Story
In 1983, James Drake founded the practice we now know as Commonwealth Retirement Advisors. He specialized in retirement planning for public employees. In 2001, Ryan Drake joined his father to expand the financial planning capabilities of the practice. In 2011, David Monday joined the practice having retired as a senior executive at one of America’s largest investment firms. In 2017, Commonwealth Retirement Investments LLC, a Richmond based investment firm was formed. Today we are focused on helping those in and near retirement grow their income and preserve their nest egg.
Our Business Is Retirement
We are a Richmond headquartered advisory firm focused exclusively on those in and planning for retirement. As retirement specialists, we work to help our clients make wise retirement decisions, and then, grow and protect their retirement income.
+ Years Of Combined Experience
A Word From Our President
“Today, retirement can last 30 years or more. You worked hard to retire. We work hard to keep you retired.”
– Ryan P. Drake
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I’ve given thought to just about every retirement issue that exists over the past several years. As Chief Client Officer of a major investment firm, I’ve interviewed scores of retirees and the professionals who advise them. Along the way, I earned a Masters in Gerontology, the all-encompassing study of aging. Then, after 31 years at my company, I decided to retire, too.
3 Common Documentation Mistakes That Retirees in Richmond, VA Can Avoid
As Retirement Advisors, we are in the business of helping clients enjoy and finance their retirement years. In a surprising number of cases, we discover problems with key documents. These include Powers of Attorney, Wills, Trusts and Advanced Health Care Directives, and more.
Should Your Retirement Investments Be Giving You a Raise?
Would you keep working at a company that didn’t give you a raise for 30 years? Over time- your income needs to grow because your expenses are likely to grow. Today a couple aged 60 will likely spend over 30 years in retirement. During that time most of your expenses will rise. We find that some retirees focus only on the growth of their assets when they should also be focusing on the growth of their income.