For even the most financially literate individual, planning for retirement can be a very challenging undertaking. The days of relying solely on your pension and Social Security benefit to satisfy your income needs during retirement are long gone. In today’s economic climate, historically low interest rates coupled with high market volatility rates have made planning for retirement difficult and more important than ever.
One of the most difficult aspects of retirement planning is the mental shift it requires. Prior to retirement, your financial life was dictated by an earning and saving paradigm. Once you retire, however, you will no longer be earning a paycheck you can save which means you will need to generate an income through other sources.
A crucial first step toward helping ensure adequate funding throughout your retirement is understanding that having retirement savings is not the same thing as having retirement income. Saving for retirement is what you have spent most of your working life doing, but now is the time to begin using those savings to create the retirement income you’ll need. This can represent both an incredible investment and mental challenge and is a process made much easier by enlisting the services of a financial professional.
Our firm can help you define your retirement goals and evaluate your current financial state. In addition, we can help you design a retirement plan capable of generating, in a reliable and sustainable manner, the income you need.
You’ve spent your life working hard for your money and now is the time to let us help you make it work hard for you!
Michael Raitt, Almega Wealth Management and Gradient Securities, LLC are not affiliated with or endorsed by the Social Security Administration or any government agency. This content is for informational purposes only and should not be used to make any financial decisions.