Retirement Planning

The amount you will need in retirement depends on the age you plan to retire, your desired retirement lifestyle, how long you expect to live and the rate of return that you expect to earn on your investments. Social Security and employer-sponsored pension plans will probably provide less of what you will need than they did for your parents.

Consideration should be given to one or more of the following strategies when trying to maximize your retirement income:

  • Clearly prioritized retirement goals and objectives
  • Retirement at a later age
  • Saving more
  • Spending less during retirement
  • Invest to earn a potentially higher rate of return on investments while still feeling comfortable with the level of risk involved
  • Liquidation of non-cash assets
  • Social Security
  • Maximize contributions to qualified retirement plans
  • Invest in IRA
 
 

SMRU #1832050