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A Personalized Retirement Plan

A Personalized Retirement Plan

April 08, 2022

How do you picture your retirement?

Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to consider. Our team of investment advisors can help you determine what you want your retirement to look like and how you can get there.

What do you absolutely need to accomplish in retirement?

If you could only get four or five things done in retirement, what would they be? Answering this question might lead you to compile a "short list" of life goals, and while they may have nothing to do with money, the financial decisions you make may be integral to pursuing them. 

What would revitalize you?

Some people retire with no particular goals at all. After weeks or months of respite, ambition may return. They start to think about what pursuits or adventures they could embark on to make these years special. Others have known for decades what dreams they will follow... and yet, when the time to follow them arrives, those dreams may unfold differently than anticipated and may even be supplanted by new ones. 

In retirement, time is really your most valuable asset. With more free time and opportunity for reflection, you might find your old dreams giving way to new ones. 

Who will you spend your retirement with?

Here is another profound choice you get to make in retirement. The quick answer to this question for many retirees would be "family." Today, we have nuclear families, blended families, extended families; some people think of their friends or their employees as family. 

What is your financial retirement plan?

We can't control all retirement expenses, but we can manage some of them. The thought of downsizing your home may have crossed your mind. One benefit of downsizing is that it can potentially lead to no mortgage or a more manageable mortgage payment. 

If you're not sure what your retirement spending plan looks like, we can help! Our fiduciary financial advisors can help you understand your existing retirement plan or help you strategize any changes you want to make. Read more about your options here

Could you leave a financial legacy through an estate plan?

Many of us would like to give our kids or grandkids a good start in life, but leaving an inheritance can be trickier than many realize. Tax laws are constantly changing, and the strategies that worked years ago may have more limited benefits today. An investment management strategy could help you plan for the financial legacy you want to leave behind. 

Keep in mind this article is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax or legal professional before modifying any part of your overall estate strategy. 

What is your retirement plan?

This is the most important question of all. If you feel you need to prepare more for the future or reexamine your existing strategy in light of recent changes in your life, conferring with a financial professional experienced in retirement approaches may offer some guidance. 

If you're not sure what your retirement looks like, and you're interested in finding out how a personalized retirement plan can help you make the most of your retirement, contact our office today. Our team of fiduciary and investment advisors can help you build a customized retirement plan that serves you now and can help you leave behind a financial legacy. 

The content is developed from sources believed to be providing accurate information. The information in this material is not intended for tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2022 FMG Suite.