RETIREMENT PLANNING FOR INDIVIDUALS
The right time to start planning for your retirement is now.
The idea of retirement carries different meanings for people depending on where they are in their lives. To some, retirement is an abstract concept and it’s too far down the road. For others, it’s a growing concern as it creeps closer. They are filled with the uncertainty of how they will fund their retirement that’s looming right around the corner.
At SVA Plumb Financial, we believe it is never too early or too late to begin planning for your retirement. Few retirees can rely on company pension plans to fully fund retirement. The solvency of social security is becoming a concern; many are left to fund a majority of their retirement needs with their own savings.
The goal for many of our clients is to do what they want to do, when they want to do it and to have the funds to do so. That may not be your exact vision for retirement, but the point is you need to have a vision to work toward making retirement “your own.”
Carefully consider what may play into creating your vision. Do you foresee: Healthcare issues? Spending more time and money on travel/leisure activities? Selling a business or passing it onto your next generation? Adding a vacation home? Taking care of family members on either side of the age spectrum? Volunteering or giving to charities?