According to a recent survey, most U.S. households looking at retirement have neither consulted a financial advisor, nor developed a formal retirement income plan. It is as important as ever to have an income plan to suit your specific retirement needs, whatever they may be.
Do you find yourself in this category? Does anyone in your family fall into this plan-less group of people? Consider these important factors when looking at retirement or living in retirement:
1. It is never too early to meet with an advisor to develop strategies for income in retirement. With rates as low as they currently are, it might not be too late to meet with an advisor to see what advice and alternatives they can provide.
2. Many retirees think they are in danger of running out of money. Other retirees may need to reduce their spending dramatically to make their money last. Meeting with an advisor to discuss your needs, spending, inflation impacts, rates of return are important and can provide retirees with a second opinion.
3. Every retiree needs a plan. However, plans can and should be tailored to fit the needs of the specific retiree.
4. Life Expectancy for retirees can sometimes reach 30 years into retirement and a good plan should reflect that. Meeting with a Financial Advisor is simply the first step in the process of developing a sound retirement income plan. Furthermore, because of the changing landscape of the economic and political worlds, every good plan will need to be reviewed regularly to determine when and if changes are needed.
If you do not have a retirement income plan in place or if you need to have your plan professionally reviewed without cost or obligation, please contact a Founders Financial Consultant by calling 1-866-739-7064. We are available to meet with you at the branch that is most convenient for you to discuss your needs.
and investment advisory services offered through Financial Network Investment
Corporation, Member SIPC. Founders
Federal Credit Union and Financial Network are not affiliated. Investment Services is a department of
Founders Federal Credit Union.
Not NCUA Insured - Not a Deposit - May Lose Value - No Credit Union Guarantee - Not insured by any Federal Government Agency.
This article was written by Derek J. Hawk with Founders Investment Services Team. It was published in Founders FCU Springtimers Newsletter (October 2012). Source: Cerulli Associates