Retirement Financial Planning

Think realistically about when you want to retire. How much longer can you see yourself working and is it worth it to perhaps cut back on expenses to enjoy the smaller things in life for longer? Choosing an age at which to retire is a personal choice and can vary by situation. Some people only want to work as long as they absolutely have to, which is completely understandable, particularly at an advanced age. Other folks out there may plan on retiring only after they reach certain career goals, either way it boils down to the right combination means, lifestyle expectations and personal preference.Bear in mind, retirement is a personal choice but you are not the only person it affects. First and foremost, retirement will drastically change your family dynamic. For those considering retirement with kids still living at home, retirement can be both a blessing and a curse. (more…)

Retirement isn’t an “I woke up this morning and decided I was done” type decision. Retiring without your ducks in the row is really just a fancy way of saying “I quit.” In order to make sure you financial future is secure, years of planning should take prior to taking the first sip of champagne at your send-off. Here are some tips to make sure you get off to a good start and stay on the right track towards a fulfilling and comfortable post-employment period.

1. Set real dollar goals Retirement may mean no more work but that doesn’t mean you aren’t going to have to work to get there, so whip out the handy calculator, make a realistic assessment of your expenses and determine exactly how much money you will need to support your retirement plans. These figures will be drastically different for everybody, as it would obviously be significantly more expensive to retire to a seaside villa in the south of France compared to pond adjacent barn home in south Georgia, though both may be equally appealing to certain retirees. (more…)