Will the money I have saved be enough?
Retiring Minds Want to Know
That depends, enough for what? Enough for basic needs like a place to live, food to eat and utilities? Come on, that’s merely existing. Retirement is about living, and to put a number on “enough,” you need to imagine how you want to live. For most retirees today, that’s vastly different than their parents’ retirement years.
- Nearly 70 percent of pre-retirees plan to work at least part-time in retirement or never retire
- 75% want to pursue something they’ve always wanted to do
- 70% are looking for ways to better balance work and personal life
- 80% want opportunities to learn something new
The length of retirement has changed as well. The chart below shows that when you’re 65, your chances of living into your 90s are better than when you were younger.
How long will you need income?
The average life expectancy in the U.S. is 79 years of age. Thus, people enjoy longer lives.
Male Age 65
Female Age 65
Couple Age 65
So how do you get enough money? You start by imagining everything you want to do in retirement. You prioritize those dreams, and plan how to allocate your financial resources. You want the next phase of your life to be all about living it.
Let us help you take that first step. At Kline’s Investment Services, we use a process called NextPhase. It’s a Retirement Income Planning Process that provides a lifetime income strategy for the years ahead.
We can help determine your level of safety, comfort and risk with handling your retirement. Call us today, for a free Income Distribution Consultation!
Securities America and its representatives do not provide tax or legal advice. Tax-law is subject to frequent change; therefore it is important to coordinate with your tax advisor for the latest IRS rulings and specific tax advice, prior to undertaking an investment plan. Any tax or legal information provided here is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.
Diversification can be thought of as spreading your investment dollars into various asset classes to add balance to your portfolio. Although it doesn’t guarantee a profit, it may be able to reduce the volatility of your portfolio.