It’s a question more and more Americans are asking. Studies show that life expectancies are rising. If you’re a 65 year old male, you have a 50% chance of living beyond 87 and if you are a 65 year old woman, you have a 50% chance of living beyond 94. The good news is that if you plan properly, you can retire with confidence knowing you won’t outlive your money. Having reasonable goals and the ability to stick to them is key. Setting retirement goals is not just about dollars and sense. It’s also about drawing on your values and hopes to create a satisfying life. For some, that may mean continuing to work past age 65, or even starting a new career. Others may be ready to start relaxing, volunteering, traveling or pursuing a pastime.
Because each individual’s idea of the perfect retirement is unique, everybody will have different financial needs and resources. We’ll help you determine what yours will be based on your vision of being retired. Here is a list of items to think about when estimating your retirement budget:
• Essential Expenses — food, shelter, clothing, health care, transportation and taxes • Discretionary Expenses — travel, hobbies, entertaining, donations, maybe a 2nd home • Guaranteed Income — Social Security, Pensions, and Annuities • Investment Income — Stocks, Bonds and Mutual Funds
At Clark & Goshow Financial Strategies Group, we’ll take the time to get to know you. We’ll look at your complete financial picture and create a plan that provides you with confidence in your financial future. Our Envision process helps identify where you are, where you want to go and how you plan to get there. Contact us to begin “Envisioning Your Tomorrow… Today”.