Money Advice

Take control of your future by focusing on these 7 retirement planning must-dos

Posted by The Simply Money Advisors Team on Oct 17, 2018 1:43:35 PM

What does retirement look like to you?

Even more importantly, do your savings, investments, and money habits have you on track to get there?

A new survey from TD Ameritrade finds that most Americans see retirement as a fresh start and a time to pursue new goals. Yet, 60% of those surveyed don’t know if they’ll have enough money in retirement to support their projected lifestyle. That’s not encouraging.

But it doesn’t have to be that way. You have the power to take the initiative to plan your future.

At Simply Money Advisors we’ve been helping clients retire well for 25 years, which has allowed us to pinpoint the seven major ‘decision points’ we believe anyone approaching retirement should embrace and implement to increase their chances of living a successful retirement:

  1. Retirement income needs (determining what income will need to be replaced when you stop working)
  2. Expense and debt management (analyzing how to reduce debt loads prior to retirement)
  3. Tax planning (strategically planning the timing of retirement withdrawals and the amounts)
  4. Investment management (maximizing the returns on your investments to create sufficient income to preserve your principal)
  5. Risk management (controlling or minimizing the impact of unforeseen events on your money)
  6. Estate and legacy planning (figuring out what will happen to your money and possessions when you’re gone)
  7. Distribution and income sources (analyzing the best sources from which to derive your income, and in what sequence)

Approaching your retirement with this kind of comprehensive planning will help you get answers to the questions we know you have about retirement, including the big question, “Will I be OK?”

And isn’t knowing so much better than not knowing? Don’t be the person who buries their head in the sand.

The Simply Money Point

Preparing for retirement is something most people think about, but many hesitate to begin.

If you’re nearing retirement, it’s time to take control. By working with a qualified financial advisor to create a personalized financial plan that addresses these seven key areas, you’ll have the confidence to live the retirement you want.

And to learn more about how to make a smooth transition into retirement, including a more in-depth look at our seven decision points, reserve your spot at one of our retirement planning workshops during the week of October 22nd. Seating is limited – and they’re our last events of 2018 – so register today.


Topics: Retirement Planning


Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Simply Money Advisors), or any non-investment related content, made reference to directly or indirectly will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, this content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained here serves as the receipt of, or as a substitute for, personalized investment advice from Simply Money Advisors. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Simply Money Advisors is neither a law firm, a certified public accounting firm, nor a tax advisory firm and no portion of the blog content should be construed as legal, accounting, or tax advice. Please consult your own attorney, accountant, and tax advisor for legal, accounting, and tax advice. A copy of the Simply Money Advisors’ current written disclosure statement discussing our advisory services and fees is available for review upon request. Advisory services offered through Simply Money Advisors, a SEC registered investment adviser. Insurance services are offered through Simply Money Insurance Agency, a separate entity from Simply Money Advisors. Simply Money™ and the spiral symbol are trademarks of Simply Money IP Holdings, LLC.

Simply Money Advisors

Your trusted financial planning partner and retirement specialist.

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