What questions do you have to answer before you can successfully retire?
Episode 14 explains the five questions you must ask and be able to answer in order to retire successfully. We’re going to discuss a simplified financial model that focuses on a successful retirement.
Once a family understands how their approach is going to address these five “Ls” or these five questions, they’re much more able to enjoy their retirement years, because they feel confident, not just in their advisor, but due to their own understanding of the approach.
1. Lifestyle - “How much income do you need, and where will it come from?”
2. Liquidity - “How much money do I need to have set aside and where will I keep it?”
3. Longevity - “How do I make sure my money lasts as long as I do?”
4. Long-Term Care - “How will I protect myself from the impact of potential long-term-care costs?”
5. Legacy - “What do I want to leave behind and to whom?”
How you can take action:
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