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 (howlong 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 has to be. We’re here to help.
Retirement Related Topics:
1. Defining Your Retirement Lifestyle
- What do you envision life looking like once you retire? What are your plans,
goals, and expectations?
2. Reviewing Your Current Finances (As Well As Your Physical Health)
- Where do you currently sit financially and from a physical health standpoint? How
far are you from your “magic number” and do you foresee medical
3. Future Income Stream Options
- Work toward a steady income with a variety of options to help ensure you’re able
to live comfortably in retirement.
4. In-Depth Look at Social Security
- When should you and your spouse start taking Social Security? How does it
impact your retirement lifestyles?
5. Revisiting Your Dream Retirement – Is it Realistic?
- Maybe you’re fine, or maybe you’re not. If not, you’ll need to temper expectations
and devise a plan to comfortably go into retirement.
6. Lowering Your Costs and Setting Realistic Goals
- Where and how you can cut costs to help you achieve your retirement goals.
7. How to Prepare for the Unexpected (Good, Bad, or Worst)
- Things happen. Be prepared when they do to avoid a nightmare retirement.
8. Reviewing Your Budget and Sticking to Your Retirement Plan
- Planning is dynamic. Learn how to adjust your goals as you go to align with your
9. Estate Planning Lawyers and their role in Retirement Planning
- Do you need an estate planning lawyer? What do you need to be prepared for?
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.