Retirement Planning is one of the most critical aspects of a thorough, rational financial plan upon which rely the quality and prospects of your golden years. As crucial it is, retirement planning demands vigilance, discipline, and commitment on your part. With well thought out plans and actions grounded in proven strategies, it’s always within our reach to make possible a comfortable, secure, and stress-free retired life.
The Unsteadiness of Private and Government-Sponsored Plans
One must not depend solely on financial systems that one does not have control over. It’s advisable to devise plans that are in accordance with your own wishes and aren’t beyond your influence. With improved standards of living and advances in medical science, it’s logical that the ratio of retired to working people will keep increasing at a much more rapid pace, putting more strain on the social security system and making it increasingly questionable that these resources will be available in the future in their present form. The private pension plans are not infallible either and can fail you just when you are most vulnerable.
By forming your own retirement plans, you not only attend to your unique circumstances, but secure yourself from any financial setbacks. Being realistic and far-sighted is the key to formulating a robust retirement plan that irons out any twists and turns along the way and sustains its efficacy no matter how unfavorable the conditions are.
Identify Your Needs and Underline Your Realities
Only you know what retirement means for you, and what expectations you have from your golden years. It is well reasoned to organize your needs that you foresee in your after-work life and other associated realities in a coherent, comprehensible form.
- At what age are you expecting to retire?
- What standard of living and the proportionate income do you wish to maintain during your retirement years?
- What are your estimates for real rate of return (rate of return adjusted for inflation) on your investments?
- What is the estimated accumulative value of your social security benefits and any private pension plans?
It is imperative that one proceeds with their retirement plans with a margin of safety that accounts for extraordinary and unexpected events. No one is immune to illness or loss on investments, and no one is absolved from paying taxes, although proper tax planning can limit the tax burden.
The Right Fit is Out There!
There are various retirement savings plans available in the market, both government sponsored and private. Each plan has distinct features and its own benefits and shortcomings.
Sifting through all of the available financial planning options and correlating one’s requirements with the available products is a painstaking challenge that requires financial finesse, market savvy, and considerable time.
Zehnder Wealth Management gladly extends our dependable financial planning services to figure out only the most suitable products and plans for your distinct requirements. We not only recommend plans tailored to your needs but help you identify them. With our non-partisan, proven financial services you get a better sense of what you really need. Contact us today to get started.