Randall Wealth Management Group has taken the time to identify these needs and develop a specific Retirement Income Plan and Financial Advice to help meet these personal retirement goals, along with any other needs that are present.
Too many people retire without any idea of what their retirement will look like. They leave work, and they cannot figure out what to do with themselves, so they grow restless. It's important to identify what you want your retirement to look like and what you see yourself doing. Maybe you love your career and can't imagine not working during your retirement. There's no hard and fast rule to your dream retirement, so it's important to be honest with yourself. A recent Employee Benefit Research Institute retirement confidence survey shows that 72% of workers expect to work for pay in retirement, whereas just 30% of retirees report that they've actually worked for pay.1
Having a clear vision for your retirement may help you align your financial goals. It's important to remember that your vision for retirement may change—like deciding you don't want to continue working after all.
This is another factor in retirement happiness. If you can surround yourself with family members and friends whose company you enjoy, in a community where you can maintain old friendships and meet new people with similar interests or life experience, that may be a plus. If all this can occur in a walkable community with good mass transit and senior services, all the better.
The actuaries at Social Security project that the average life expectancy for men turning 65 is 84.1 years old, and the life expectancy for women turning 65 is 86.6 years. Some will live longer. Say you find yourself in that group. What kind of car would you want to drive at 85 or 90? At what age would you cease driving? Lastly, if you do stop driving, who would you count on to help you go where you want to go and get out in the world?2
At 45, you can tackle that bathroom remodel or backyard upgrade yourself. At 75, you will probably outsource projects of that sort, whether or not you stay in your current home. You may want to move out of a single-family home and into a townhome or condo for retirement. Regardless of the size of your retirement residence, you should expect to fund minor or major repairs, and you may need to find reliable and affordable sources for gardening or landscaping.
These are the non-financial retirement questions that no pre-retiree should dismiss. Think about them as you prepare and invest for the future.
We can help you address your needs of today and for many years to come. We look forward to working with you.
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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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Randall Wealth Management Group and Vanderbilt Financial Group are separate and unaffiliated entities. Vanderbilt Financial Group is the marketing name for Vanderbilt Securities, LLC and its affiliates. Securities offered through Vanderbilt Securities, LLC. Member FINRA, SIPC. Registered with MSRB. Clearing agent: Fidelity Clearing & Custody Solutions. Advisory Services offered through Consolidated Portfolio Review, a Registered Investment Adviser. Clearing agents: Fidelity Clearing & Custody Solutions, Charles Schwab. Insurance Services offered through Vanderbilt Insurance and other agencies. Supervising Office:125 Froehlich Farm Blvd, Woodbury, NY 11797 • 631-845-5100 For additional information on services, disclosures, fees, and conflicts of interest, please visit www.vanderbiltfg.com/disclosures
