Learn why a customized retirement plan is so much better than a one size fits all plan taken right off the shelf.

Main Questions Asked:

Do you even know when you should retire?

Have you done a retirement risk analysis?

How do you feel about money?

Key Lessons Learned:

What to Consider When Creating Your Customized Retirement Plan

• When are you going to retire? You need to talk with a financial advisor about when you should retire. Opinions are often different with married couples. There are so many variables, a plan needs to be customized.
• Lifestyle and income needs. You need a good income plan as part of your overall financial plan. Get an income analysis to find out exactly what you have and need. An expert advisor can help predict what will happen in the future.
• Risk tolerance. Gauge how you will react when markets go way up or way down. A plan can help take the emotion out of decisions and prevent you from making costly mistakes. Risk tolerance needs to be factored into a plan by smoothing out the risks.
• Family longevity and health history. There are no guarantees. Add at least five to seven years because of advances in health. Health history and long-term care are a factor. Figure these things out when you are still younger.
• Your feelings and your emotions connected to money. Most of our decisions in life are made on feelings and emotions. Many money decisions are made on emotions. You need to factor in your feelings and how you will deal with things in times of stress. This is where a plan is really helpful.

How Age Is the Price of Wisdom

• As people get older their perspective of money and wealth changes.
• How we wish we had known what we know now when were younger.
• When people get older their opinion of risk changes. The more money they have the less risk they want to take.
• People get less tolerant of risk when they have built up a big nest egg.

Links To Resources Mentioned

Money Map Retirement Review

1-800-757-0436

Thank you for listening!