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Serious retirement planning should begin well in advance of actual retirement. Fifteen to twenty years in advance of retirement, you need to begin definite and detailed planning. People used to rely on Social Security to see them through retirement. The current average monthly Social Security benefit places a retiree just above the federal “poverty level.”
This amount of income certainly won’t support the retirement you dream of. At best, you can only depend on Social Security to provide a basic safety net. These days fewer companies provide pension plans and with people changing jobs more often than in the past, it is less likely that you will qualify for a pension.
Without a pension, how will you finance your retirement? To a large extent, the answer is up to you.
There are three steps to Retirement Planning:
Determine your present income, expenses, assets and liabilities.
Determine your retirement needs.
Develop a plan for reaching your targeted capital needs.
Now is the time to take charge of your future. If you haven’t begun planning for your retirement, contact us and we’ll help you get started. If you already have a retirement program in place, we would be happy to review it with you to help make sure it will meet your retirement needs.
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