Feel financially confident in retirement
Whether it’s decades away or just around the corner, life after work may be the next, most important chapter in your life. Will you have the financial resources to make your retirement remarkable?
No matter how hard or how much you’ve saved, there are factors that can affect your retirement readiness: volatile markets, surprise expenses, a longer life than you expected.
Let’s take a look at some of the areas you and your financial professional may want to focus on when planning for a remarkable retirement.
There are many reasons why you might be focused on growing your retirement savings. Maybe you’d like to be able to live the lifestyle you want once you reach retirement, or you got a late start to saving and are looking to close the gap between what you have and what you’ll need. You may just prefer to have peace of mind that your retirement savings will be there when you need it — despite outside factors like poor market performance, high inflation or unplanned expenses.
When you no longer have a steady paycheck to rely on, where will your income come from? Perhaps more importantly, how much will be from guaranteed sources like Social Security or pensions? It can be difficult to predict just how much you’ll need to enjoy retirement to its fullest. And as people live longer, incorporating guaranteed income into your retirement plan may be an option to consider.
Once you leave the workforce for good, you’ll need to be able to depend on your retirement savings to cover your expenses for the rest of your life. To make sure your savings can meet your needs, you may be thinking about reducing your exposure to risk by incorporating protection strategies into your retirement savings plan.