For even the most financially educated people, planning for retirement can be quite the undertaking. Long gone are the days of solely relying on your pension and Social Security benefit to meet your retirement income needs. The historically low rates, alongside volatile market rates, place the upmost importance on income planning for retirement.
Retirement planning requires a shift in thinking, which could be difficult for some. Before retirement, your financial situation was based on a paradigm of earning and saving. In retirement, you no longer receive a paycheck to save, meaning you have to find a different stream of income to rely on.
A critical initial step in helping secure solid funding for your retirement is understanding that your savings isn’t the same as income in retirement. You spent a good portion of your career saving for retirement, but the time has come to start using your savings to generate a retirement income. While this can present a challenge, working with financial professionals can help alleviate some of the stress.
Our firm will work alongside you to help define your retirement goals and review your current financial situation. From there, we can customize a plan that is able to generate the reliable, sustainable income you will need.
