WHY IS HAVING A (Formal-Written) RETIREMENT PLAN IMPORTANT?
Retirement planning is a decision-making process that includes implementing short as well as long-term strategies to help you reach your retirement planning goals.
In general, a sound retirement plan should have several resources of income established; to withdraw from, estimates short- and long-term expenses, and places into action an emergency/savings program as well as properly structures and manages the withdrawal orders of your income producing assets.
WHY IS IT IMPORTANT TO PLAN FOR THE PREDICTABLE WHILE PREPARING FOR THE UNEXPECTED BEFORE RETIREMENT?
People are now living a longer life, and because of your age, health and or skill set at retirement, which might prevent you from doing so; you really can’t rely on continuing to work, through your retirement years.
Prior to retiring, it is important to plan for a retirement that enables you to maintain the lifestyle you worked hard for. And helps you maintain your independence while having the resources to live as comfortable as possible. However, retirement planning can become challenging if you elect not to address critical retirement risk that could possibly impact your financial security and independence. For example, increasing taxes, the rising cost of living or the unexpected expense of a long-term care event...has the potential of causing financial challenges throughout your retirement years.
WHAT ARE THE BENEFITS OF HAVING A (Formal) RETIREMENT PLAN IN WRITING?
Having a formal written retirement plan allows you to monitor, adjust and become more focused on reaching your retirement planning goals.
At Delington we utilize a comprehensive examination with a detailed evaluation of your current financial state. In moving forward, we create an exclusive easy to understand analysis that measures how the effects of increasing taxes, inflated cost of living, and how the experience of a projected short or long-term care expense, or when to collect social security benefits and more, will have on your retirement planning foundation and overall independence throughout your retirement.
THE DELINGTON REPORT: