How Do You Know If Your Retirement Plan Works for You? Asset Strategy

As life expectancies increase and the concept of retirement evolves, it is essential to prepare for a potentially longer and more dynamic period of life after leaving the workforce. Retirement planning has evolved beyond merely saving for a short period of leisure; it now involves creating a comprehensive strategy that allows for flexibility, fulfillment, and continued engagement in life. This article will discuss three key steps in developing a retirement plan that works for you.

  1. You Have a Clear Vision of Your Retirement Goals

Defining your retirement goals is the first step in determining your retirement readiness. It’s essential to consider factors such as the age at which you’d like to retire, the lifestyle you envision, and how much of your pre-retirement income you’ll need to replace. [1] By having a clear vision of your retirement goals and understanding the financial implications of those goals, you can create an effective and personalized retirement plan built to help achieve your ideal retirement life.

  1. You Have a Solid Financial Foundation

Before diving into retirement planning, it’s crucial to ensure that you have a healthy financial foundation. You should examine your current financial situation, including your emergency fund, debt levels, and savings rate. [2] Ideally, you should have an emergency fund with three to six months’ worth of living expenses, manageable debt levels, and a consistent savings habit. [3] Establishing a financial foundation before focusing on retirement planning can help you avoid financial setbacks and ensure a smoother transition into your retirement years.

  1. You’re Prepared to Work with a Financial Advisor

Retirement planning can be complex. Working with a financial advisor can provide valuable guidance and support. A financial professional can help you create a comprehensive retirement plan that considers your unique financial situation, goals, and risks. They can also show you financial tools and strategies you may not have had access to without them and can help lift some of the burden of financial planning so the burden isn’t all on your shoulders.

If you’re ready to seek professional advice and work collaboratively with a retirement professional to develop your retirement plan, reach out to us today for a complimentary review of your finances.



This is for informational purposes only, does not constitute individual investment advice, and should not be relied upon as tax or legal advice. Please consult the appropriate professional regarding your individual circumstance.

There are retirement account risks that could diminish investor returns, such as, but not limited to: low interest rates, market volatility, withdrawal timing and sequence of returns risk, government policy uncertainty and increased longevity. Prospective investors should perform their own due diligence carefully and review the “Risk Factors” section of any prospectus, private placement memorandum or offering circular before considering any investment.

Advisory Services offered through Asset Strategy Advisors, LLC (ASA), an SEC-Registered Investment Advisor. Securities offered through Concorde Investment Services, LLC. (CIS), member FINRA/SIPC. Insurance Services offered through Asset Strategy Financial Group, Inc. (ASFG)”. ASA, CIS and ASFG are separate companies.

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