How Do I Know When I Can Retire?

Thinking about retiring?  Careful planning is essential to living comfortably after leaving your career.  These are the key factors you will need to consider when deciding when you can retire with confidence and security.

What assets to I have available for retirement?  Take stock of any IRAs, 401(k)s, personal savings, and other assets you are willing to liquidate.  It is important to get the advice of a professional financial advisor when determining when and how to liquidate assets, as the labyrinth of taxes, fees, and penalties associated with these choices can be very difficult to navigate.  An expert can help you get the most out of the assets you have.

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I Haven’t Saved Enough for Retirement. Now What?

Financial Planning

It’s a common problem.  You wake up one morning and suddenly realize, I haven’t saved enough for retirement! With increased life expectancy and the unexpected costs that come our way, many of us find ourselves nearing retirement age with less saved than we will need to maintain the standard of living we desire.  According to a recent survey by the Employee Benefit Research Institute, 49% of workers are not too confident or not at all confident that they will have enough money for a comfortable retirement.  41% of workers said that the need to meet current day-to-day expenses prevents them from saving at all or saving more for retirement and, only 46% of workers responded that they or their spouses have actually tried to calculate how much they will need to live comfortably after they retire. So now that retirement is on your horizon, and you’re waking up to the realization that you have not saved enough, what can you do? Read more