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Retirement Planning

The process of setting retirement goals, determining income needs at retirement, identifying the sources of retirement income, and ensuring the nest egg is sustainable over one’s lifetime (and withdrawn from efficiently).

Maximize use of qualified retirement plans and IRAs. It’s very important to examine retirement plan options such as IRAs and Roth IRAs to determine their potential as a way to generate tax-deferred or tax-free retirement income. Coming up with a strategy for utilizing these different types of retirement accounts is essential to your plan. However, planning for your retirement is more than consolidation of your 401(k)’s, IRAs, 403(b)’s and other savings plans.

Retirement planning is a much farther reaching process:

First, identify your goals for retirement (travel, major purchase, children’s weddings, etc.)

Then, identify your retirement income (Social Security, Pensions, Savings Plans, etc.)

After, make a plan to best reach your goals given your retirement income.

Finally, preserve the wealth that you accumulated in retirement.

Proper retirement planning involves strategies aimed at combating these major investor concerns:

  • Inflation’s Impact
  • Rising Life Expectancies
  • Soaring Health Care costs
  • Weakening Social Security System
  • Diminishing role of Pensions
  • Costs to take care of kids and parents

Retirement Planning Calculators