Retirement Planning is a way to help you insure that your future in retirement will be successful and stress free.
Retirement Planning is an iterative process, with many decisions made, and re-made during your retirement. Even deciding on when to begin taking Social Security can change over time. You might have decided to delay taking benefits until age 70 to maximize your future monthly payments, but then life happens and you decide to begin taking benefits at age 64.
Part of the "Putting It All Together" process, is projecting over time how your finances will hold up during your expected life expectancy, taking into account average asset growth, taxation, and expense growing with inflation over time. The projections are obviously more accurate the shorter the projection time period, and less accurate the further out we look. You are going to be more accurate projecting what you think might happen 3 years from now, compared to projections you might have about what might happen 30 years from now.
Life is not linear, and Average never happens
Even with the limitations of long term projections, everyone should have some form of projections to help them understand what may, or what might happen during retirement.
To help remove anxiety about what might happen in the future, we can "Stress Test" your Retirement Plan for several "What If" potential scenarios.
What If - I die premature
What if - I become disabled during retirement
What If - I outlive my assets
What If - The Stock Market goes crazy (Monte Carlo Simulations)
What If -
We can help you with these questions
The typical Retirement scenario for our parents
Three Legged Stool : Pension from Work, Personal Assets (Investments, Life Insurance, Home), and Social Security
Interest Rates - 8 - 18%
Expected Income Need - Comfortably live off of 75 - 80% of pre-retirement income
Life Expectancy - 64 Men 72 Women
The typical Retirement scenario today
Three Legged Stool : Social Security, 401K / 403B from Work (then transferred to IRA), and Personal Assets (Investments, Life Insurance, Home)
Interest Rates - zero (0)
Expected Income Need - Comfortably live off of 100 - 120% of pre-retirement income (go-go years)
Life Expectancy - 78 Men 86 Women, 92 if married at retirement
Social Security Planning is Critical
Healthcare and Long Term Care will be two of the largest expenses for most retirees.
How Much Do I Need to Retire? Which Assets Do I Use First?
Years of experience have prepared us to guide you through your pre and post retirement years.
When to Take Medicare, Social Security, and RMD's
Blended Family / New Marriage in Retirement
Identity Theft, Cyber Theft, Diminished Capacity, Abuse
Memories, Digital Photos, Social Media, Ancestry, Charitable Giving