Achieving Your Goals Starts With A Strategy
Retirement should be a satisfying chapter in your life. After a life span of hard work, you should be able to do all that you've always wanted to do. Whether that means beginning a new career, traveling, going back to school or spending more time with family, retirement is an opportunity to enjoy that which makes you happy.
Unfortunately, retirement isn't a given. You need to have a concrete strategy to help make certain that you'll have enough income to live comfortably after you quit working. Studies show that an startling number of people are sadly unprepared for retirement.
For many people, the closer they get to retirement, the more worried they get about whether they have saved enough or not. And it's understandable. With life expectancy growing and the ability to not only live longer but to do so with a high quality of life climbing as well, it stands to reason that some people will be a little anxious when their last paycheck gets ever closer. Are you one of those people?
There are several financial needs to think about when getting close to retirement, from knowing what your Social Security payment will look like, to understanding IRA disbursement. You may even consider what it will be like to live on a fixed income for the remainder of your life.
But before you do anything, just relax. Don't try to think about everything at once. Just because you're close to retirement doesn't mean you stop planning. As a matter of fact, it's a wonderful time to review your plan, or even implement one for your golden years.
The Big Picture
Before you think too far ahead, take a serious look at your budget today and get a good understanding of how much it will take for you to live the same standard of living you do today when you retire.
While making sure your basic needs will be met when you retire is important, you should consider your estate planning issues and insurance as well. It's also important to understand how your tax situation will vary when you retire. That way you won't be shocked and can make the appropriate changes that may be necessary to avoid any extra or unnecessary tax.
Even as you approach retirement, it's wise to continue to think about your short- and long-term goals. Learn more about how Warren Wealth Management manages your needs. Visit our contact page and we will be happy to help you identify and prioritize your financial goals and track your progress toward reaching them.
One of the greatest ways to start planning for retirement is to schedule a complimentary retirement analysis today.