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Retirement Planning

If you’re planning for retirement, Plan 4 can help. We offer comprehensive financial planning services. Our skilled financial advisors are versed in all aspects of retirement planning and can assist in evaluating retirement needs, projecting cash flow, and defining retirement goals. Learn more about retirement planning and what you can do now to prepare.

What Is Retirement Planning?

The goal of a retirement plan is to provide adequate income once you stop working. A retirement advisor can help you determine how much money you’ll need for housing, medical coverage, and leisure activities, as well as identify your sources of income. Taking action now can allow you additional time to address your funding goals.

Plan 4, Inc. offers a wide range of services specific to retirement planning, including:

  • 401(k) rollover
  • 403(b) plan management and rollover
  • 457 plan rollover
  • Roth conversions
  • Roth IRA
  • Traditional IRA
  • Fixed Annuities
  • Variable Annuities

What Is the Importance of Retirement Planning?

Developing a robust retirement plan and following through on your personal retirement savings plan and investment plan can increase the likelihood of reaching your retirement goals. A key aspect of all financial planning, including retirement planning, is identifying your personal risk profile, or the amount of risk that you are comfortable accepting to pursue your desired return on investments. Working together, we will design a strategy that fits your style. When you plan for retirement, it helps minimize the chance of running out of money when you need it the most. Let us help you plan for a happy and confident retirement.


When Should You Start Planning for Retirement?

According to a Vanguard study, a $500K investment today could grow to a $3.4 million nest egg in 25 years. That is the power of time. It's never too early or too late to start planning for retirement, but implementing a plan is vital to your success. With the help of a retirement advisor, you can shift into high gear to make the necessary plans for yourself and your family — and your business if you own one. Retirement planning is not just for individuals. We work with businesses to establish retirement plans that help both employees and owners.

It's important to take other financial goals into account if you have young children. Therefore, working with a financial advisor can help you establish priorities and align your savings accordingly. For example, you might want to set up a college savings plan to fund your children’s education, or pay off your mortgage early to increase your cash flow in retirement and allow you to enjoy other pursuits.

All investing involves risk including the possible loss of principal. No strategy assures success or protects against loss.

What Are the Keys to Successful Retirement Planning?

Maximizing your cash flow, ensuring that you have adequate health and life insurance, and implementing your estate plan are three pillars of retirement planning. Our team can assist you with these and other financial planning considerations:

  • Managing Cash Flow.  Ensuring that you have enough cash flow to cover your expenses and allow you to relax in your retirement is critical. If you are like most Americans, your home is one of the most valuable assets you own. We can help you develop a budget that prioritizes this asset while seeking to maximize cash flow at retirement.
  • Health Care and Life Insurance Planning. Making sure that you are sufficiently insured will go a long way toward enjoying retirement. Our independent financial advisors will help you find healthcare and life insurance solutions.
  • Estate and Tax Planning. From taking advantage of tax deferred savings plans, such as 401(k) plans, to setting up trusts for estate planning, it's important to talk to a financial advisor familiar with estate tax strategies. If you own your own business, succession planning becomes a priority the closer you get to retirement. Let us help you develop an exit strategy for your business and use financial planning tools to make administration of your estate as easy as possible.

Where Should You Invest Your Retirement Money?

Your retirement advisor can help you assess your risk tolerance. Having confidence in your investments can allow you to plan for your retirement with the least amount of stress. Here are some of the tools that we use:

  • IRAs (traditional, Roth, SIMPLE, SEP)
  • Mutual funds, bonds, stocks, and ETFs
  • Annuities (variable, fixed, indexed)

How Much Money will You Need in Retirement?

Work with your financial advisor to set your total retirement goals. Retirement is not a one-size-fits all exercise. As a rule of thumb, you will probably need about 80% of your pre-retirement income to maintain your current standard of living. However, many people significantly scale down their living costs after retirement, which can help your money last longer. The most important part of retirement planning is understanding how much income you will need to live comfortably.

Contact Plan 4 today to learn more about your retirement planning options.

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