Your planning should be fashioned uniquely to your risk tolerance and time frame.
If you have concerns about being able to retire, you are not alone. For many, the prospect of a comfortable retirement remains an elusive goal. With so many factors to consider, retirement can take an extensive amount of researching, evaluating and planning. The key is to focus on your unique goals and evaluate whether your strategy is appropriate, and the end result is uniquely different for each of us.
So, where do you begin?
Let’s start with the lifestyle and emotional components of retirement planning and then factor in the financial. This, taken in steps, lead one to the other and then to the best conclusion for you. At Fragasso Financial Advisors, our codified Client Experience was designed on these principles. Our process has been tested over four decades to uncover concrete objectives framed by your goals, objectives and expectations.
Take the necessary time to map out how you envision your life in retirement. Include your family and those directly impacted by your retirement in this discussion. Be as detailed as possible. Do you want to continue to work perhaps as a consultant or on a part-time basis? Caring for grandchildren, hobbies, travel, charity work and other activities can enrich your retirement years, but not if it came about in an unplanned manner. Lack of planning can lead to poor time usage, health problems and even premature death because of an undefined purpose in life.
Then comes the financial considerations. This is where your financial advisor at Fragasso and our codified Client Experience will provide needed support and guidance. We’ll complete the areas of your plan that may have been overlooked or are too overwhelming, such as your income needs, the effects of inflation, your longevity and the inevitable unplanned or irregular expenditures.