Every financial decision you make will impact how you live during your retirement years. We have the experience to help you develop a comprehensive strategy and will work with you over the years to make sure that plan evolves as needed.
There are a lot of terms used in retirement planning that may be unfamiliar to some. Here is a brief overview of some common terms:
The amount to save depends on your unique situation and goals. Generally, you should aim to set aside 10-15% of your income each year for retirement. This assumes you start saving early and use tax-deferred plans, such as traditional IRAs or 401(k) plans.
The best investments depend on age, risk tolerance, and goals. A financial advisor can help you create an appropriate portfolio with a mix of stocks, bonds, and other investments.
There is no one-size-fits-all answer to this question, as it depends on factors such as your lifestyle, where you live, and healthcare costs. Generally, experts recommend that you should have saved 70%-80% of your pre-retirement income by the time you retire.
Ideally, you should start planning for retirement as early as possible. This allows more time to take advantage of tax-deferred plans and invest in growth opportunities. However, it's never too late to start - even if you're close to retirement age!
Retirement planning is an integral part of financial strategy and doesn't have to be complicated. By taking the time to understand the basics, you can ensure that your retirement is comfortable and secure. We can walk you through the process of retirement planning and answer any other questions you might have.