Retirement Planning 

As an investor (and as somehow who plans to retire one-day), you might wonder how much money you will need to save for your retirement. Our financial planners will gather information from you to assess your needs. We will find out when you plan to retire and what type of lifestyle you plan to live upon retirement.

We will ask about your life goals because knowing what you want to achieve and to do will help us to determine what your expected monthly income needs will be. Next, you’ll discuss the length of time remaining until you plan to retire and your ability to set aside funds now and until your anticipated retirement age.

All the information collected and discussed will result in a retirement savings and investment plan that’s right for you.

Once we’ve established your retirement plan, it’s up to you to take the steps outlined. Ideally, you’re starting to save early in your career, making it easier to save and invest money for a long period of time. Here are seven key steps to help reach your retirement dreams:

1. Start saving NOW, as early as possible. For every month you delay in investing for retirement, you lose not only the invested money but the compound interest that makes your investment grow. Even if you start with a small amount, start today.

2. Save the maximum amount recommended on a regular basis, such as a monthly contribution. Don’t put it off. When you’re able to invest the maximum amount allowed in retirement savings, do it.

3. Diversify your investments to spread your risk by choosing vehicles with varied income goals and risk levels. Putting your money in one investment vehicle can be risky, so avoid this strategy.

4. Don’t withdraw money in your retirement investment accounts before retirement unless you have a dire need for the funds. You may be tempted to remove funds to remodel a room or to pay for an expensive trip, but you’ll regret it later when the invested money that would have been there for you is gone.

5. Stick to your retirement financial plan and consult an advisor if a change is needed. Don’t ignore your plan or make a rash decision. Go back to your goals and your current situation and alter your plan intelligently.

Our financial advisors are on your team. Your goals become the goals we strive to help you meet through a sound investment strategy. We coach you through the difficult decisions and, when retirement comes along, we continue to guide you through managing the plan along with your assets to produce an income that supports your life for as many years as it’s needed. 

At HollisWealth Ancaster, we can’t predict your future, but we can help you plan for it. When you put sound retirement strategy and practices to work, you can look forward to a brighter, less worrisome tomorrow. Let us help you see that brighter, more secure future with a customized financial plan for retirement. Book your free consultation today.