Retirement

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The presentation begins with a discussion of retirement savings needs, including estimating Social Security benefits and the impact of inflation. Asset allocation strategies appropriate for workers aged 45 and over are then presented. Next, the presentation outlines some challenges that families may encounter as they pursue building retirement savings and emphasizes the need to make retirement savings a priority. Estate planning considerations and new tax rules are outlined.

This presentation takes a look at how retirement has changed through the years, helps attendees estimate how much they may need to retire, review their current efforts, examine the tools available to them, and help them develop an investment strategy to pursue their goals.

Ages 30 to 45 are formative years where many are building their careers, families, and assets. This is also the time to build retirement savings, set funds aside for future college costs, and seek to provide financial independence for one’s family and loved ones.

Retirement today looks a whole lot different from the good old days, when people generally retired at 65 to a life of leisure, supported by a company pension plan and guaranteed government benefits such as Social Security and Medicare. In the new age of retirement, many of us expect that we’ll be working well past the age of 65. This is particularly true for baby boomers that have been caught by the economic and market setbacks of the past few years.

Lifestyles may change dramatically in our 70s, 80s, 90s and beyond, and the reality of retirement may turn out quite differently from what we have envisioned. Many individuals look at their “golden years” in idealized terms, many do not give careful consideration to the realities of aging. Aging and frailty know no economic boundaries and often bring physical, lifestyle, financial planning, family, psychological and social challenges. Truly understanding the realities of retirement can help in providing financial, emotional and family considerations the proper attention well in advance.