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Top 10 Retirement Questions

For example if you have $1,000,000 at a 4% withdrawal rate that will give you $40,000 per year from your investments. Add in $30,000 for social security benefits and that gives you $70,000 per year of retirement income.
This is going to be different for everyone, but 2 key points to consider are:

i.Your income needs in addition other sources will determine the age you want to collect.
ii.Evaluating the impact of losing one social security benefit when one spouses passes.

Assuming you have $1,000,000 and take $40,000 per year (4%) that will last you 30 years.
Only a retirement plan can help you see if you are on track for retirement. Click here to calculate yourself.
It depends on how much control you want over the funds and what your need is now and in the future for income.
Once you know your retirement number and it will be able to satisfy your retirement needs. Don't make the mistake of making decisions emotionally and retiring before you have a plan.
This will depend on where you live for state taxes and what federal tax rates are. Many people don't know that social security does not get fully taxed and there are creative ways to minimize this tax.
While we know the memories of raising your family in a home you might not want to leave it is important to start this discussion now so you can have peace knowing what your options are.
The average 65 year old couple will need $250,000 saved for healthcare expenses throughout retirement. Many underestimate this expense and it can lead to devastating financial issues. Make sure this is a topic that is discussed between you and your financial advisor.
Did you know that neither your health insurance nor Medicare would pay for extended long-term care services in the event that you needed them in the future?. Long term care expenses can average around $10,000 per month which is $120,000 per year. This can quickly wipe out retirement savings.

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