Life happens when you’re making plans. And life events like an illness, injury, or the death of a spouse can impact your retirement cash flow, unless you are prepared for it. Retirement cash flow is the money you have coming in and going out of your accounts each month. Before you retire, it’s important to understand where your money will be coming from and whether your retirement savings and investments will be sufficient to allow you the lifestyle you desire and cover any unexpected expenses that may occur.
When you contact Alloy Wealth Management, one of our experienced fiduciary financial advisors will look at your accounts and speak with you about your timeline for retirement. They’ll ask about your retirement goals. Will you be playing golf every week and traveling a few times each year, or are you a homebody who wants to stay close to the grandkids? Getting to know who you are and how you’d like to spend your retirement is an important piece of the retirement planning puzzle.
Once your financial advisor gets a lay of the land, if you will, they’ll be able to create a strategy unique to your situation. They’ll recommend ways to maximize your social security benefits, how to manage the impact of taxes in retirement, what insurance policies may provide additional income, and consider factors like inflation and emergencies when calculating how much money you’ll need to retire comfortably.
Retirement planning is one of our areas of expertise. We love helping retirees and pre-retirees learn to grow, preserve, and protect their assets so they can live large in retirement. If you have been worried about retirement or wondering how you’ll be able to afford to retire, call 800-689-3935 to schedule an appointment. We’ll answer any questions you have and then create a customized retirement plan for you.