If you’re thinking about retirement, you’ve likely asked yourself When can I retire? Would I have enough money to retire? When shall I sign up for Social Security and Medicare? When shall I start taking money out of my retirement savings? How much can I draw each month so I don’t have to pay too much in taxes or run out of money too soon? Should I be worried about nursing home expenses? … Since the time leading to a retirement is critical, you’ll be required to make a number of important decisions in very short time span, that will likely carry some long-lasting consequences.
Pre-retirement is a period of transition: a shift from a mindset that’s focused on accumulating assets for retirement, to one that’s focused on distribution of funds, and drawing down resources.
For some, this time may be be confusing and chaotic, but it doesn’t have to be. The key is to understand what’s at stake, and to recognize the long-term effects of the decisions you are about to make.
If you’ve recently retired, you may want to reaffirm the decisions you’ve already made, and see if you didn’t miss anything. And even if you didn’t miss anything, there are probably things that you did in a hurry and you don’t rememember the exact details.
Whether you’re still working, or already retired, the financial advisors at Rochester Investments will do their best to help you walk you through the steps you need to take, or go back through the steps you may have taken, to get you from employment to retirement, so you know what to expect.
So what should you do next?
If you think talking to us is important, give us a call to review your current situation, and the steps you need to take to get you to retirement. We can brainstorm with you through the decision-making process, evaluate the steps you’ve taken in the past, and see if there’s something you may have missed, or not thought about.
Call us at 585-568-6656 to set up an appointment. We can go over your goals and stress test your plan. We look forward to supporting you, no matter how simple or how complicated your financial situation might be.
