People are feeling younger, living longer, and increasingly are covered by defined contribution rather than defined benefit retirement plans. These factors have increased the importance of proper retirement planning, retirement plan types and picking the right fiduciary advisor. In fact, people today on average spend nearly 20 years in retirement. As a result, we must consider our health, the increased costs of healthcare, the need for our money to last longer, and the impact of market volatility on our retirement portfolios.
FinTrust’s team of credentialed experts can help guide you along the path to—and through—retirement with confidence and conviction that your financial plans, retirement plans, and investment strategies are well thought out and designed.
Accumulation and Saving for Retirement
Planning for retirement requires some assumptions—and an understanding of how they may impact potential outcomes. When will you start saving, how much can you save every year, and when will you retire, and what will your investments return? The answers to these and other key questions will impact the odds of reaching your retirement savings goals.
Living in Retirement
Many people find it difficult to shift from a saving mindset to a spending one. You must think about developing a strategy that seeks to generate income from your retirement portfolio and that insures that your money will last. In addition to investment decisions, you may face other decisions related to healthcare and living situations. You will need to be thoughtful about the most efficient way to withdrawal money from retirement accounts and how to maximize benefits likes Social Security.