Like a life plan, a well-thought-out retirement income strategy helps keep us on track and working toward our goals. And pursuing our financial goals goes hand in hand with working to achieve our life goals. For instance, if you have a specific retirement date in mind, creating a retirement income strategy can help you plan for that date and see if you are on track to meet your goals.
Here are three reasons you should implement a retirement income strategy:
- It shows you whether your goals are realistic. Taking stock of where you are and where you want to be can help identify gaps and highlight potential shortfalls. Remember that specific retirement date you had in mind? A retirement income strategy can tell you whether that date is feasible.
- It’s a port in the storm. It’s easy to stick with a strategy when things are good, but when things get challenging, it’s tempting to jump ship. A well-thought-out strategy will help act as an anchor for you when you have an unexpected event take place.
- It helps you understand where your money goes. While some of us are good at following the money, some of us have no idea what we really spend our money on. Part of putting your strategy together is sitting down and accounting for your expenses.
Don’t “Do-It-Yourself” for Your Retirement Income Strategy
We live in a do-it-yourself culture. From home remodeling to teaching yourself how to play an instrument, the internet gives us the resources to learn and do just about anything on our own.
That includes creating a retirement income strategy. The vast array of resources available out there make putting together a strategy sound simple. But the benefits of working with a financial professional to create a cohesive, personalized strategy can outweigh the pros of going it on your own. Here are just a few reasons you should work with a financial professional to put together your strategy:
- Time. You may have the ability to put together your own strategy, but do you have the time? Putting together a retirement income strategy can take lots of time — time spent pulling current statements, researching options and making changes. A financial professional can save you time by presenting options to you and handling the legwork to establish new strategies. He or she also can monitor and update your strategy as needed.
- Knowledge. A financial professional understands the options available and how they work in tandem with the other items in your strategy. A financial professional also understands the latest features of the available insurance products.
- Accountability. A financial professional will not only help you create a retirement income strategy, but he or she will keep you accountable to it. He or she can help you keep the bigger picture in mind and help you understand the progress you’re making toward your financial goals.
Is your retirement strategy up to date? If not, it’s time to make it that way. We can help you create a strategy that is unique to you and your life. We will help identify any income gaps in your current strategy and analyze various options to help get you to your goals. Contact us today to get your personalized retirement income strategy.
Is your retirement strategy up to date? If not, it’s time to make it that way. We can help you create a strategy that is unique to you and your life. We will help identify any income gaps in your current strategy and analyze various options to help get you to your goals. Please fill out the form below to get your personalized retirement road map.
Please fill out the form below and we will be in touch!