MAKE A WRITTEN RETIREMENT INCOME PLAN
REVIEW YOUR RETIREMENT INCOME PLAN
Do you have a written plan showing the projection of future income you expect to receive throughout your retirement?
Does it show when each income source starts, stops, increases, or decreases?
If you didn’t retire yet, have you reviewed different financial scenarios for various retirement dates? Do you know when it’s best time for you to retire?
How much money should you keep liquid in the future years?
Did you analyze future income taxes you will pay as you take income from your assets?
Do you know how much money you can reasonably expect to leave to your beneficiaries?
Does your plan include emergency situations such as being confined to a nursing home or being diagnosed with a terminal illness?
Case Study
Nothing Was In Writing
Tomis 74 and Cindy is 72, they are both retired. They have saved significant amount to be able to retire at 62, but they did not have a plan of how they will use their money. Because they didn’t spend much time planning it and trusted their advisor to take care of everything, now they are worried that they might have needed a better plan. Our RetirementLab revealed that because their advisor did not help them create a financial plan, they had no opportunity to review different investment options. The RetirementLab showed them different financial strategies available and helped them make an informed decision and put it on the paper. Their retirement income planreflectedhow much income they could safely take out of their assets, so the income would last as long as they lived, how their investment is protected against stock market losses, what all their investment fees are, how much they should expect to pay in taxes in the future and how much liquidity their investment would allow.
If you have questions, concerns, or need help making an informed decision about your future retirement income, ensuring your assets are protected and you never run out of money, we will be happy to review your options with you. Schedule a free, no obligation meeting with one of our financial advisors.
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