You’ve been planning for it; the day you can retire and begin the next phase of your life.
Retirement always seemed so far in the future - and now, it’s upon you. Will those dreams of travel or sailing, taking up pottery, learning to fly a biplane, or building a home on a nearly deserted island be feasible now that you finally have the time? You need a retirement financial advisor highly skilled and attuned to your specific needs.
You’ve saved, invested and built up a portfolio of assets, perhaps including incentive stock options that need to be addressed now. In fact, retirement might be the first time you’ll ever be faced with the need to manage cash and budgeting with the new dictum – don’t over-save.
That’s right – the new caveat in retiree’s lives is one of the three most important financial steps you can take to ensure retirement is all you ever dreamed of.
Your cash management and budgeting need to be one of not under-spending or over-saving. This is far more than telling you to enjoy the fruits of your career; it is sound financial advice. If you have not shared your retirement bucket list with your financial planner – it’s time to. In a very real sense, retirement means relearning it is okay, in fact, it’s beneficial, to do things just for you.
Realign your investment optimizations, risk and long-term growth requirements with your new financial, mental, and emotional reality. This is the positive side of Behavioral Planning, a combination of behavioral and cognitive psychological theory with conventional economics and finance. It takes a bit of time to adjust … but it is so worth it! It isn’t that you won’t be making new investments but the parameters of the investments will be different than years ago.
Plan on having regular meetings, quarterly if possible, with your financial planner to ensure your cash management is aligned with your financial plan. These regular meetings will enable you to live by the successful retiree’s manta: Grow, Preserve, Protect, and Transfer your assets while enjoying them to the fullest. and health. Your salary of $100k-$200k allows you to do more than you realized once you are more or less debt free.
Helping you find the best solutions for your retirement years is where Hamilton Financial Planning comes into the scheme of things.
If you’re unsure if you have enough saved to retire; when you can afford to retire, or how much more wealth you need to build in order to retire, we should talk. HFP is offering a no obligation 30 minute planning session designed to provide you with a high-level view of your financial forecast to answer these key questions.Schedule a consultation TODAY!
to find out if HFP is a good fit for helping you meet your goals.