Do I have enough money to retire?
According to the Trans America Center for Retirement Studies 2011 Retirement Survey, the single greatest fear retirees have is the chance they might outlive their money.
With the ever changing retirement and economic landscape, you as a retiree are forced with managing your portfolio so that you produce enough income to finance your lifestyle without spending too much.
However, simply withdrawing money from your investments without a written plan may cause you to run out of money even quicker. Determining your “retirement number” is a good place to start.
Your "retirement number"
A retirement number is not how much you have in total net worth or investable assets. Planning for sufficient retirement income requires you to map out what you spend in retirement, not what you have saved.
You should factor in your basic living and joy expenses to determine how much money you need per month to live comfortably. This number may be affected by future inflation or cost of living, so you should consider that, too. You should not have to change your lifestyle during retirement.
Planning for lifetime income should be your #1 objective
How will inflation affect me?
Inflation affects the money you spend, not the money you have accumulated. Far too often people think that they have to get a higher growth rate on their money because they need to "hedge for inflation."
Consider the possibility that inflation might be anywhere from 3-5% over the next 10 years. If your monthly income is not adjusted accordingly, you may not net enough per month to get by.
We can help you develop the financial security you need to make it all the way through retirement without running out of money.
Inflation Laddered Income
An Inflation Laddered Income Plan provides lifetime income that you cannot outlive while making income adjustments for future inflation.
For example, if you need $2,000 a month from your portfolio, at a 4% inflation rate, you would need $2,433.30 in 5 years.
In 10 years you would need almost $3,000 per month! We can show you how to take a portion of your retirement portfolio and invest it safely, so that you cannot lose your principal in a market downturn, while guaranteeing a retirement paycheck for the remainder of your life.