How Much Do I Need To Retire?
Do you find yourself anxious with the thought of your retirement?
You are not the only one! Feelings vary widely in relation to retirement, because, you have spent your whole life working towards this goal and it’s now fast approaching. Many find themselves asking, “Have I done enough?”
Do you feel unprepared for retirement?
Are questions like “is the timing right?” or “will unforeseen circumstances affect me?” crossing your mind?
There are a multitude of methods to help calculate where you stand. These calculations take into account your age, salary, and life savings to help you figure out this daunting question. Though the real question is “are these 3
variables enough to stake your whole future on?”
We recommend setting a retirement income goal. This takes time and consideration. Trying to pinpoint your annual income needs while accounting for unknown factors like inflation, a possible recession, debt, vesting options, and social security benefits…. while simultaneously taking into consideration your personal goals, health, loved ones, and expectations can be a headache!
With so many factors to consider it’s easy for the thought of retirement to be stress inducing instead of exciting. The focus should be on how you plan to spend the rest of your life and what the steps are to achieve that goal! Most people in your shoes aren’t confident in their comprehension of retirement planning. In fact, retirement is one of the most common concerns when it comes to personal finances.
If there are doubts or concerns relating to your retirement, it’s time to reevaluate and develop a solid strategy for the future. Talking with a professional that specializes in retirement planning will take out the guesswork and help you secure the future you’ve always wanted.