Didn’t hiring a wedding planner to create perfect moments on your big day seem like a good investment? So why not let a retirement planner help you live the life of comfort that you crave for during your working years. A lot of people ask me how much money I should set aside for my retirement. I always repeat that the quality of life you would like to enjoy, when you are older, depends on how much you are able to save for it now.

Do A Quick Calculation

Considering your current financial situation-

* Think of all the things you would like to be able to afford in the near future.
* Think of how much you currently save, and how much you would need to save to live comfortably for the next five years.
* Now triple that. This should give you a target of the bare minimum you need to save for five years post retiring.

The first step of a good retirement plan would be to determine your objectives. By doing this, you are listing out all the wants and needs for whenever it is you plan to retire. Every person has individual needs; these necessities need to be well taken care of. Are you availing of any IRA or any sort of pension? Keep all this in mind before going ahead.

From the above points, gather all the information you would need to consider before even thinking of making a retirement plan. Three other major things you need to consider are-

1. The cost of living in the future, inflation, taxes, as well as health care costs.
2. Your stocks, ventures, etc for their current worth, as well as their projected worth to gauge what sort of income you can expect from them.
3. Estate planning encompasses protection of your assets for you as well as for your beneficiaries. Most people assume they can over look this part. However, never underestimate it’s role in your retirement portfolio.

If you wish to learn more about other factors which affect retirement planning, please feel free to request for more information

Also, visit out services list to know how we help you with your retirement planning.

My personal advice to you is- “If you wish to work through your retirement, you must make sure it’s an optional job and you are not working with the purpose of supporting yourself and your family.” All the best!

This entry was posted on Friday, April 16th, 2010 at 1:46 pm and is filed under financial planning. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.