This educational e-mail series answers the six, most-asked questions from our clients about strategies to help stay on track with financial goals.
By guest author M. Terry Mechling
Question 3: How long might my savings last during retirement?
Everyone’s retirement goals and strategy for getting there are unique. There isn’t an easy one-size-fits-all solution, but it doesn’t have to be difficult. I can help you create a plan that includes turning your savings into income during retirement.
First: Customize a plan to meet your goals
- Business Owners: As a business owner, you may need a more sophisticated financial strategy for building your retirement savings and managing retirement income once retired.Watch this video to find out why relying on income from your business during retirement may not be the best move for your financial security. Then contact me for help in creating a savings strategy that fits your needs.
- Personal Planning: Knowing how long your savings will last in retirement depends on how much you want to make during retirement (monthly income) and how much you’ve saved before you retire. (Use our Retirement Planning Calculator to find out.) Together, we can discuss any gaps and strategies to fill them, plus set up a plan for turning your savings into income when it’s time.
Next: Update your savings plan to meet your goal
I can help you. Together, we can go through the tools listed above and discuss your next steps. Remember you don’t have to start rebuilding alone. Call or e-mail me today.
M. Terry Mechling
Financial Services Representative, Princor Registered Representative
The Principal Financial Group
980 Birmingham Rd., Suite 721
Milton, GA 30004