Retirement Planning

Why do I need to think about retirement?

The reality is most people between the ages of 18 and 40 years, are fully occupied trying to hold down a job and/or raise a family so thinking about retirement planning is sometimes put aside to do “later”. If you haven’t planned for retirement and your employer doesn’t offer any retirement benefits “later” will sometimes find you many years down the road with no benefits other than a Social Security check.

The purpose of retirement planning is to achieve financial independence which enables you to choose whether or not you want to work after retirement age, rather than being forced to. You need to ask yourself am I ready to retire at a certain age, and in the way, I want to? Do I have sufficient funds to retire? What can I do to improve my retirement options?

Putting a retirement plan in place can allow you to maintain your standard of living.

Retirement planning isn’t just about knowing if you will have enough income to pay for your essential living costs such as rent or mortgage, home maintenance, utilities and food. It's also about ensuring you have enough for the things you want to do when you retire. You may want to travel or enjoy hobbies and pastimes you have put on hold for years. You want to be able to maintain the same standard of life that you had while working.

Investing time earlier on in life, to think about and plan for retirement can not only increase how much you can accumulate financially, but can also increase your options at retirement and significantly reduce the risks of leaving things to chance. It's never too late to think about retirement planning, but the earlier you start the better!

I would be pleased to discuss retirement planning with you, and talk to you about your specific needs and what will work best for you. Please feel free to call me at 580-355-7273.