Retirement sneaks up on too many people. Are you willing to leave the fate of your golden years to luck? Unless you really consider and understand what you want from your retirement and what you need to do financially to accomplish these things, you may find that all of your dreams and plans about life in retirement could remain just that – a dream.
Here are a few questions to illustrate some of the variables that you will encounter in planning for and living in retirement:
- At what age do you plan to retire?
- Will you start a new part-time career during retirement, or never work again?
- How long do you think you’ll need your money to last?
- How much money will it take to support your household?
- How do you envision your lifestyle during retirement? Days on the golf course? World travel? Pursuing a hobby?
- Where will you live when you retire?
- What provisions have you made to take care of your health care needs during your retirement years?
- Have you taken into consideration the possible need for qualified nursing care as you age?
- How should you invest your money to potentially maximize your retirement savings?
- How will your assets, liabilities, expenses, and savings change during retirement?
If you’re like most, you can comfortably answer very few, if any, of these questions. But if you have established goals, you’ve taken the first step. The next step is to develop a plan for pursuing those goals and we can show you how to get there.
Gene Nazelrod and Jason Nazelrod are registered investment advisor representatives of Nazelrod & Associates Financial Services Inc., a registered investment advisor in the state of Maryland. Gene and Jason are also licensed in the state of Maryland as registered securities representatives of LaSalle St. Securities, LLC, a registered broker dealer. Please inquire about other states in which Gene or Jason are licensed. Gene and Jason are also Certified Financial Planners™ by the Certified Financial Planner Board of Standards.