Retirement Planning
Preparing for retirement is one of the main objectives of Financial Planning. Due to our busy lives and other financial priorities, many people don’t begin planning for retirement until they are about 5-10 years away. In fact it’s quite common for couples to approach a financial planner or advisor with urgency around this time. They usually want to make sure they do the right things during their remaining working years, so that they will be able to retire with dignity, and live comfortably, on their terms.
If this describes you, I’ll work with you to:
Be sure you know what expenses to expect in retirement and explain how they might differ from those they encounter during your working years.
Make sure you’re investing the correct amount in the years leading up to retirement to be sure you’re able to enjoy a comfortable retirement.
Appropriately allocate your investment money, so that you understand the tradeoff between fluctuation and required return.
Determine a sustainable portfolio withdrawal rate, so you don’t withdraw too much too soon, and run out of money.
Determine when you can realistically retire.
Determine how much money you’ll need to retire.
Understand how much (or little) your retirement security could be affected by large fluctuations in the market and/or your investment account balances.
If you’re already retired, that’s fine too. I’ll be glad to work with you on all of the items above. I’ll also evaluate or update your plan, and make sure you have a solid investment portfolio that suits your risk tolerance and objectives.