Do you have enough money to live on when you retire? Interestingly, most people have no idea. They usually know what type of lifestyle they want, but they don’t know how that translates into current savings or future costs.
With today’s crazy economy, many investors don’t even know how much money they have now or what they’ll need in the future. This “head in the sand” approach to financial planning is understandable but dangerous.
Sure, the global economy is unpredictable and ignoring the gloom and doom reported by the media is easy, but with the right type of planning, you can create a clear picture of where you want to be in retirement. This includes your ideal retirement age, the type of lifestyle you want, whether or not your home will be paid for, what activities you can afford, how you’ll care for your family after you’re gone, and more.
I urge you to sit down with your financial planner to find out how much money you have now and how much you need to retire on. Then figure out a solid plan to get there, using safe, conservative investments.
Even if you trust your advisor 100%, I encourage you to get a second opinion to be sure you aren’t missing out on an unknown opportunity or investment vehicle. Some advisors will charge a fee to offer a second opinion, but I offer this service at no charge to you and with no obligation. I will review your portfolio and make recommendations, even if you choose to go back to your current advisor. The next time someone asks you, “do you have enough money?” your answer will be YES!