Retirement Planning

It’s how people save to buy a home, to send the kids to college and retire in comfort. During your working years, take a portion of your paycheck and put it into a separate, special account. If you don’t see it, you don’t miss it. As this money accumulates, move it to more long-term investments consistent with your goals. With retirement, time is your friend. Properly invested, money has growth potential.

When should you retire?

After a lifetime of work, are you financially prepared for retirement? You’re in control of the decision and can be confident you’ll make the right one, especially if you’ve done your preparation and homework. Let Wealth Advisors help you review your asset and liabilities to help you determine your net worth.

Do you know your retirement shortfalls? Use this calculator to help you determine if you have a retirement shortfall.

Making your money last

The key to a comfortable and successful retirement is not outliving the money you’ve saved by creating a budget. Be careful with credit cards and new debt. Claim that senior citizen discount wherever it’s offered. Read the fine print about taxes on all your investments.

Be strategic about Social Security

Social Security is available to you at age 62, but it’s great if you can wait. Take it early, and you get 25% less than if you wait until full retirement age of 66 at which time you’re entitled to 100%. If you can wait until 70, you get 35% more. People often coordinate Social Security benefits with spouses who are also eligible. Maybe one of you takes benefits early, and the other waits.

Use our social security calculator to help you estimate your social security benefit.