Although it is often seen as the end of one’s working career, retiring can be tough. Several questions, worries, and fears often arise before and during the retirement process. For those planning, the common concerns and questions revolve around establishing a time frame (how long one needs to work) and determining that “magic number” for retirement.
For those living in retirement, the focus shifts towards living out their envisioned lifestyle. Do they have enough? What else can they do to ensure financial stability? What happens with Social Security? How does their health come into play?
The fact is, planning for retirement doesn’t just stop at your retirement date. It’s a continuous process that adapts based upon your current situation. The more adaptable you are during retirement, the better off you’ll be.
Here at Magellan Financial, we want to help alleviate your concerns and help answer as many questions as possible. Our goal is to help you experience your retirement (both planning for and living in) comfortably, both financially and mentally.
Over the next year, we will be composing a blog series. These blogs will cover a variety of topics (listed below) related to planning and living in retirement. Once these articles are published, you will be able to find them either via a link on this page or on the blog themselves.
Retirement can seem stressful and difficult, but it doesn’t have to be. We’re here to help.
Retirement Related Topics:
1. Living in Retirement Blog Series (this page)
2. Defining Your Retirement Lifestyle
- What do you envision life looking like once you retire? What are your plans,
goals, and expectations?
3. Reviewing Your Current Finances and Health
- When planning for your retirement, you need to review both your current finances and the overall health of both you and your partner. Once you’ve done that, your retirement plan starts to piece together a lot better.
4. Future Income Stream Options for Retirement
- The biggest fear for most when they retire is the possibility of not having enough money to live the lifestyle they want. To ensure you can live retirement comfortably and do as you wish, you’ll need to establish a diverse portfolio of income streams.
5. When to Start Taking Social Security
- One of the most important considerations in retirement planning is deciding when to start receiving your Social Security retirement benefits. Getting the timing right is critical to maximizing the benefits accrued during a lifetime of work.
6. Revisiting Your Dream Retirement – Is it Realistic?
- These days, many people wonder if they will ever reach retirement. But unless you plan on staying at your current job until you simply expire at your desk, all of us will get there eventually. Instead of wondering if you can afford retirement, we want to help you learn how you can.
7. How to Prepare for the Unexpected
- One challenge of retirement planning is trying to predict events that could happen many decades in the future. That’s why good retirement planning includes a plan for unexpected – but common – retirement events.
8. Tips to Plan for Retirement by Decade
- You have a great chance to achieve your retirement goals if you treat retirement planning as a long-term project. When you start saving young, you can keep reinvesting gains and earning compound interest that adds up over the years.
9. How to Cut Expenses to Attain Your Retirement Lifestyle
- If you discover that you’re not keeping pace to achieve your retirement goals, you still have plenty of options. But before setting a new course, see if you can find ways to reduce your current expenses so you have the chance to invest even more money into your future retirement lifestyle.
10. 7 Simple Steps To Create Your Retirement Budget
- Retirement plans include reasonable budgets. We want to help you get started by telling you how to create your retirement budget in seven simple steps.
11. Estate Planning For Retirement
- Your estate plan is a key part of your retirement plan. Learn tax optimization strategies and ways to protect your assets – and your loved ones – when you’re gone in our latest Living In Retirement blog.
12. Series Recap: Our 6 Biggest Retirement Planning Lessons
Have additional questions or concerns about retirement? Contact Magellan Financial today to speak to our Retirement Advisors.
Wells Fargo Advisory Financial Network is not a legal or tax advisor.
