Within 10 years of retiring, many people start thinking about these questions. They ask in advance because they don’t want to retire first and then figure out if they’ll have enough money afterwards.
It’s prudent to start reviewing what your retirement income will look like when you retire, along with your expenses. If it’s sufficient, great! If it isn’t, then you need to start working with a Certified Financial Planner to figure out your best options.
The cost of living rises every year. The cost of medical care does too. You need to make sure you have enough money to live on long term and know the impact of taxation. If taxation takes 30% or 40% of your income, the funds you’ll have left to live on will be significantly reduced.
We’ll review all your potential sources of retirement income and will determine how taxation will impact each source of income. We’ll then combine these together to determine your potential income and review the expenses you can realistically expect to have in retirement. If your income isn’t over and above what your expected expenses will be, then you’ll need to look at alternatives.
We’ll help you every step of the way. As Certified Financial Planners, we’ll look at your whole picture and provide the expert advice and guidance you need to take charge of your retirement.
