Life is always in a constant state of flux, and retirement is no exception. The importance of a solid retirement strategy can't be overstated -- it is a critical link in being prepared for today's life challenges. Without a sound financial plan, it may be more difficult to carry out your retirement dreams -- or how you plan to spend time doing the things you love. In fact, inefficient planning could result in scaled-back retirement goals, delays in the time you planned to retire at, or even a downsized lifestyle.
However, none of these outcomes have to arise. With the proper retirement planning guidance, anyone's goals can be well within reach. At Safe Money Denver, our retirement strategists take a holistic approach toward each client's needs. Let us discuss your unique goals, identify your specific challenges, and come up with different strategy options to prepare for your future. To request a no-obligation consultation with one of our knowledgeable independent financial professionals, call us today at (303) 974-6987.
The Need for Proper Retirement Planning Advice
You may wonder what "proper retirement planning advice" may involve. Let's consider this in context. A large part of retirement planning relates to lifelong income and cash-flow needs. Increasing life expectancies suggest that many people may spend as many as 20-30 years in retirement. How can someone be sure they will have enough money to pay for all these years?
Proper retirement planning guidance is concerned with:
- Creating multi-year projections for anticipated retirement expenses
- Anticipating what may be basic living costs, lifestyle costs, miscellaneous expenses tied to special activities and/or needs, and long-term care costs
- Ensuring there is sufficient income to cover someone's retirement duration
- Determining how to get the money someone needs to them, and what income sources it will come from
- Evaluating ways to protect and peserve assets so they last as long as someone is retired (so income is protected)
- Examining means to minimize tax liability, which has a great erosion effect on wealth
- Choosing the best Social Security claiming strategy for someone's personal needs
- Fulfilling end-goal of producing reliable, lifelong household income that keeps up with inflation
- Helping someone and their household be prepared for any unexpected expenses
- Preparing someone to be ready for their legacy planning and/or other end-of-life goals
Aside from these elements, well-suited retirement planning advice will be personalized to your needs. It will align with your financial situation, goals, risk profile, time horizon, and any special considerations. For example, you may want to travel around the world or start a business in your later years. What income and other financial considerations might need to be in place to do so?
When is a Good Time to Start Retirement Planning?
Everyone differs in terms of where they are at with their retirement planning readiness. No matter where you are at, now is an ideal time for planning out your retirement years. For example -- for people in their early-to-mid-career years, a financial plan could help clarify retirement savings goals and efficient strategies to put away savings while minimizing exposure to taxation.
If you are within five to ten years of retirement, or are already retired, it makes sense to prepare for your financial needs at this stage. Your assets and your sources of income should be able to provide for all of your retirement lifetime needs. They may also need to suffice for the lifetime of a surviving spouse, whether you or your partner. Moreover, your combined assets and income vehicles should be able to cover the effects of inflation and any unexpected costs, such as emergency care needs.
With a thorough understanding of your expenses and financial picture, our independent advisors can help you plan for a secure future.
Experienced Retirement Planning Strategists
At Safe Money Denver, our independent financial professionals have the experience, knowledge, credentials, and resources to help you be ready. They will carefully evaluate your specific retirement financial profile and requirements, and work with you to create well-thought-out retirement plans using proven, easy-to-understand strategies.
With 23+ years of experience in many financial disciplines, Safe Money Denver understands different investments and how they operate in different markets. Let us analyze your needs and see how we can help you achieve a comfortable, financially confident future.
To get started, call us at (303) 974-6987 to request a complimentary, no-obligation strategy consultation. We look forward to helping you achieve the retirement of your dreams!