The process of saving for retirement has changed drastically over the last decade. In previous years, the burden of preparing for retirement fell largely to the government and your employer. Retirement incomes were usually funded through social security and company pension plans. As you probably know, social security is anything but stable at this point, and as businesses have tried to cut costs, they have shifted the burden of retirement financing to the employee.

With this responsibility now shifted to you, do you have a plan set up to help your savings last through your lifetime? Here are some of the many questions that you will need to address.

How much do I need to save?
How much income do I want or need at retirement?
How will inflation affect these amounts?
How much can I withdraw each month without exhausting my savings?
How should I invest my current savings and how should this investment plan change as I approach or enter retirement?
What rate of returns should I expect on my investments?

You really have two options regarding retirement:

Do nothing and hope that things work out in the end.
Develop an effective retirement plan strategy.

We hope to be your guide in developing a plan that will provide you the income you need at retirement. It is so important to know where you want to end up when your working career ends and how you plan on getting there. We will guide you to the peace of mind that comes from knowing that you have a plan in place allowing you to achieve your long-term financial goals.

 

Copyright © 2010 Provident Financial Advisors, All Rights Reserved