In The End... Few Things Matter More Than Retirement Income Planning.
Retirement income planning will often be the difference between... retiring old and poor... or being able to retain your lifestyle.
|For all sad words of tongue and pen, the saddest are those... |
"It might have been."
~ John Greenleaf Whittier
Left to chance... the odds of having the retirement of your dreams... is very small?
Not saving at all... or saving for retirement blindly... is a recipe for disaster.
Do you know how much money it will take for you to be able to retire the way that you want?
If not, think about this...What are your chances of having enough money for retirement if you don't even know what that amount is?Simply having a 401(k) or IRA does not insure that you will be able to retire securely.
It is crucial to understand what your retirement challenge represents in dollars and whether your current retirement savings plan will provide that need.
This Is What Matters...
This Is Why It Matters...
I once heard a friend say...
"Getting Old Is Not For Sissies."
What a profoundly true statement.
The Golden Years can indeed be challenging.
|There are three ages of man - youth, age, and "your looking wonderful."|
~ Francis Spellman
But the combination of being... both old and poor... is simply heartbreaking.
Such a scenario requires a toughness that most of us will lack... at that stage of our lives.
Left to chance... what do you think the odds are that you will have the retirement of your dreams?
Even if you are blessed with good health... when you are older... you will not be able to do what you used to do.
Chances are... you won't even want to.
Your abilities, your needs, and your desires change over time.
Your options become fewer.
Just look around... examples are everywhere.
Be fearful and don't allow yourself to end up... old and poor.
Make retirement income planning a top priority. Don't delay.
The sooner you start the easier it will be to achieve your goal.
This Is How Much It Matters...
This question is best answered by evaluating the difference having a retirement plan can make.
The first step is to determine...
How much money you will need to be able to retire...
- when you want to.
- with the monthly cash flow that you will need.
- with a large enough balance to supply your cash needs for the rest of your life.
In other words... what does your retirement goal amount to in dollars?
Is your current retirement strategy on track to create your needed retirement balance.
If not... what is the shortfall amount?
Evaluate your own particular situation using the calculator provided by the following link. Carefully read the link instructions before clicking to the calculator.
First... click here.
Then select the "Retirement Planner".
Decide on a plan of action to address any shortfall.
If you do have a shortfall... I urge you to get really serious now and create a strategy to address your shortfall.
In the end... few things matter more than retirement income planning.
Now consider this...
One way of quantifying how much retirement income planning matters is to compare the end result of your current plan to the end result of a modified strategy.
For example... suppose that you determined your shortfall to be $250,000.
As a result of this discovery... you made adjustments to your overall strategy.
If the result of these adjustments eliminated your shortfall... then for you... retirement planning mattered to the tune of $250,000.
Quantifying helps you make smarter choices and keeps your priorities straight.
Too often... retirement income planning is given much too low a priority.
You must plan now so your "Golden Years" can truly be "Golden".
"Because It Matters"... Jim
Return from Retirement Income Planning to Home Page