Week 47
What are your goals?
The biggest problem that most of us face in planning for retirement is that we don't get serious about it until we are actually close to retirement age, and then it might be too late. Sure, maybe we have been putting some money into a 401k or have some other investments here and there, but have we seriously considered what our retirement income will look like and how much we will need to retire comfortably. Also, most people have the majority of their retirement in tax deferred retirement vehicles, meaning that they will be taxed when the income is taken at retirement in whatever tax bracket they fall at that time. The problem is that there is a likelihood that taxes will rise in the future and not drop. The good news is that if you are still in your 20's, 30's, or even 40's, there are excellent retirement plans that allow you to take income tax FREE in retirement, while protecting your account from any market losses! The other good news is that in most cases it does not require a huge chunk of your monthly income to create a reliable, significant income stream in retirement!
Homework:
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O - Determine how much you are currently contributing monthly to retirement.
O - Determine how much you have accumulated in your retirement accounts. O - Determine how much you will reasonably need in retirement in post-tax income (don't worry about inflation just yet). O - Call or E-mail us for a free consultation and analysis of your current retirement situation. In most cases we are able to create a retirement plan that creates a strong balance of tax savings now and in the future, while creating a solid, dependable retirement plan. Our goal is to accomplish this without requiring you to break the bank or feed your family top ramen every night!
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