Your Road Map to Retirement
You wouldn’t set off on a trip without checking a map or plugging in your GPS. Preparing for retirement is no different. Knowing your assets, liabilities, and your sources of income will help you create a smart estimate of your everyday needs in retirement. It will also help you assess your risk tolerance and make legacy planning decisions.
How Long a Road?
Americans are living longer than ever before. Many spend 20 years or more in retirement pursuing different goals or even second careers. Long life is indeed a blessing. And why not plan for it? Of the healthy 65-year-old couples today, at least one of them will live another 27 years, and many will live for 32 years or more. So when it comes to retirement planning, assume the best and structure your investments for the longest possible retirement.
Assets Must Last Longer
How to Start
When it comes to retirement planning, the first step is a basic one: get organized. You’ll need to understand the assets you have at your disposal, the income stream that those assets will generate, and whether they will be enough to satisfy any liabilities you have while funding your daily expenses. Use the checklists under "More Resources" on the right-hand side of the page to start your own journey today.
Remember, your financial professional can be a vital asset as you work through this process. Their expertise and training can give you valuable insight and guidance.