NEWSLETTER WEEKLY- YOUR PLAN FOR RETIREMENT

There are lots of conversations looming around about getting ready for retirement, including designing a plan for retirement security by saving more and more. Another discussion might be – how do I get started developing a retirement plan? Retirement is a huge part of the work-life process and is key to how older Americans survive in retirement. Each of us need to diagnose and evaluate what our financial picture looks like making adjustments to support a healthy financial retirement future.

Sometimes getting just the right tools lined up to support your retirement may involve getting help from a financial planner or advisor. Look for a Registered Investment Advisor (RIA) in your area and make an appointment to see where you are currently in your financial profile versus where you would like to be in retirement. Gather all of your financial information, make copies and get started working with a trusted advisor who can help you realistically assess your financial profile. Never leave your original copies with anybody. Even after developing a good relationship with an advisor you must still exercise common sense by keep your own records in a safe place. Another tip is to write down all of your expenses – credit cards, mortgages, loans, and any other regularly recurring obligations. In addition to writing down your expenses, also write down all of your sources of income/revenue including estimated Social Security and Pension payments. What you have coming in and what you have going out is critical to evaluating your financial profile.

Have you set a goal of what you want your financial picture to look like in the future? Setting goals are important so that you can measure your progress. Figuring out the resources you will need in retirement is better achieved by starting early and keeping a watchful eye on your income and expenses. By sitting down with a financial advisor, you can determine if you are saving enough or if you need to start saving more in order to achieve your retirement goals. A knowledgeable financial advisor can help you find ways to grow your money long before you retire.

Getting to your retirement goals is not a path you have to walk alone. Although no one can tell you exactly how much money you are going to need in retirement because of the many variables known and unknown that are involved. A financial advisor can, however, come fairly close to helping you secure your retirement future by looking at where you are today and where you want to be tomorrow. Start saving and investing in your retirement future now for a safe and comfortable retirement.

P. S. Always Remember to Share What You Know.

Dianna Tafazoli