50+ Lifestyles

What if………..?

By Richard J. Schillig, CLU, ChFC, LUTCF
Independent Insurance and Financial Advisor

What if the retirement plan you have today will not turn out the way you thought it was going to…..then WHEN would you want to know that? If the retirement plan you have today is not as true as you thought it was going to be – when would you want to know that information?

While reading today, ask yourself that question…..let me restate the question……If the retirement plan you have today….your pension plan, your 401K plan, your social security retirement income, your savings including personal IRAs or Roth IRAs – all of these plans together are designed to provide income. If this retirement plan is not going to provide the income you thought, when would you want to know that? Most people have at least in their heads an idea of what their plans will yield in terms of retirement income. But, my question is, what if that retirement plan was not as true as you thought? When would you want to know that? That’s my question. What is your answer? Correct me if I am wrong but wouldn’t you want to know that NOW……I asked that question of both pre-retired folks and retired folks frequently, and I always get the same answer……I’d want to know that today or even yesterday.

Whether you are now retired and drawing monthly income from pension, 401K, social security or other plans. OR perhaps you are retired and not drawing monthly income today from all plans, but leave assets in some plans to make sure you don’t outlive income. OR, perhaps you are not yet retired but have an idea of the income you may receive – but are not certain of the amounts.

Our firm offers a retirement income analysis – at no cost – that helps determine how realistic your current retirement plans are. I encourage you to take advantage of that service, to determine that your retirement plan is what you thought it would be. Call us next week to arrange a mutually convenient time for us to visit and determine if your retirement plans you now have are as true as you thought.

When we visit we will ask you a series of questions. These questions are included here for you today. Our retirement income analysis will ask you to think about these questions:

1. What age will you be when you retire?
2. How much will you have saved?
3. How much will you need each month…..our retirement income analyzer has a built in budget to help plan on how much money will be needed when you retire?
4. How will inflation affect your buying power in 10 years?
5. What will cause your current retirement income to need to be increased and when?
6. How long will you live?
7. Based on how long you will live, will you ever run out of savings and when?
8. What income will you need to leave for your survivor?

Our retirement income analyzer is available for you. It is available at no cost. Take advantage of that analyzer. There is no greater time than today to determine that the retirement plans you have in your mind will be as true as you thought. You want to know that? And you want to know that today.

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