Retirement Planning Literacy

Do you have a retirement plan that breeds confidence? Retirement income literacy is a test Americans simply cannot afford to fail. Yet in what is considered the first extensive Retirement Income Literacy Study it was revealed that most Americans are ill-prepared. Consider:

  • Only 20 percent of retirement-age Americans can pass a basic quiz on how to make their nest egg last through retirement
  • Seven out of 10 Americans are unfamiliar with the traditional “4 percent withdrawal rate rule” and the risks associated with it
  • A disturbing number showed a lack of knowledge when it comes to understanding certain investments which many consider ‘safe’
  • Almost half were unfamiliar with even basic questions about Social Security claiming issues
  • More than half underestimated the life expectancy of a 65-year-old man
  • Only 27 percent said they have a written retirement income plan in place despite the fact 63 percent have a financial advisor

The risks retirees face—economic and market uncertainty, inflation, outliving income, changes in social safety nets, and rapidly escalating healthcare costs—mean that retirees need all the latest thinking and techniques to serve their changing needs. Extensive research has shown that traditional concepts have very little to say about meeting today’s retirement needs.

Retirees quickly discover that planning for retirement income is fundamentally different from accumulating assets. Retirement is not solely about maximizing risk-adjusted returns; it is about meeting spending goals over an uncertain lifetime.

Your Personal Retirement Plan

Retirees need a comprehensive, balanced plan in which they can be confident. We will educate you and work with you to develop a person, customized retirement plan that will give you peace of mind. We will help you:

  • Create an effective retirement income plan to maintain your desired lifestyle over the course of retirement
  • Evaluate taxation, estate issues, and other risks to your retirement income
  • Prepare alternative solutions to address retirement income gaps
  • Integrate approaches, risks, products, and strategies to meet your estate planning goals
  • Analyze your Social Security benefits and recommend the optimal Social Security claiming strategy appropriate for your situation
  • Evaluate how pension and executive benefits fit into your plan
  • Understand the ways that life insurance can be used in risk mitigation, legacy planning and for business owners retirement needs
  • Educate you on the latest research on strategies for ensuring that retirement assets last a lifetime
  • Choose tax-compliant and tax-efficient strategies for plan withdrawals
  • Evaluate the best and most cost-effective health insurance options
  • Understand long-term care needs and options
  • Evaluate retirement housing decisions

You may have seen or heard of studies that show that people with written goals and plans have an exponentially higher probability of success than those who don’t. Procrastination and not having a personal plan customized to your specific goals and objectives are your biggest obstacles to success. People don’t plan to fail, but unfortunately many people do fail to plan. Don’t fail to plan. Contact us today to get started at no obligation.