Retirement Planning

Retirement planning is a life-long process.  It’s the progression of preparing for one’s life after their income earning stage is finished.  It is primarily about setting aside the appropriate amount of savings and assets to build one’s “nest egg”, so that it can be drawn from throughout the investor’s non-working years later in life.  Finding the balance between suitable spending for enjoying life during earlier stages, and necessary saving to protect one’s lifestyle during retirement can be complex.  Working with an experienced retirement planning provider is valuable and will help determine the best types of savings vehicles and investment amounts over time to achieve a successful and comfortable retirement.   

 

Important Retirement Planning Concepts to Remember:

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• Start as early as you can

• Save as much as you can in a tax-advantaged way

• Utilize different types of strategic, tax-deferred vehicles and accounts to maximize your savings and minimize taxation when withdrawals begin

• Understand the primary stages of retirement planning and use them as a guide for successful savings:

               Phase 1: Young Adulthood Investing

               Phase 2: Prime Income Building

               Phase 3: Mid-life Balance & Catch up

               Phase 4: Retirement

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