When You Are Ready To Retire...

In this overview, we will list some of the issues to be faced after retiring, when you are withdrawing and spending the financial resources your saved while working. During this phase, you want to make sure the money lasts and will be available to you for the rest of you natural life, or that of your spouse, if it is expected to be longer.   It means dealing with the transition to retirement, and coming to grips with the multiple uncertainties you face in your retirement planning. You will learn that this phase of your financial life is more difficult and complex than what you have faced to date.

We will try and keep it simple, concentrating on where we think you are at risk of making mistakes, given all the sources of bad advice out there. Our aim is that, after listening to these recordings, your eyes will be opened to some of the risks and also some of the opportunities available to you..

Just as we did for pre-retirement planning, we will start with the number one key question. This time it's 'How much should you spend'? After all, get this wrong and spend too much, it will be a problem for you later. Conversely, who wants to spend too little? Life should be enjoyed now. It's a fine line to tread, but we will show you what to consider.

Once we know how much to spend, which accounts do you withdraw from? You may have a 401k, an IRA, or brokerage accounts. You probably have home equity or other real estate income. Does it matter? We will take a look.

Retirees often have a lot of wealth. The financial services companies want to keep that wealth if you have an account with them, or they want to you to transfer it to them if your account is somewhere else. You can expect to be very popular and receive lots of solicitations from them. And when I say 'them', I have to include myself, since I make my living from offering financial advice. Listen to what I have to say, listen to what they have to say, then you decide. My goal is to open your eyes to the important considerations.

We will take a look at the main theories of how to successfully distribute your savings over many years while giving you the maximum income. We will take a look at where annuities fit in, and examine the Social Security system as a source of income for you. There's a lot of material to cover, and there are better ways of spending your retirement than worrying about money, so our goal is to educate you and help you get a financial plan you are happy with, so that you can relax and get on with enjoying your retirement.

To get started, let's look at How much can you spend?

If you are approaching retirement and want to go over the issues with us, call (408) 725-7135, or click here.

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