The Importance of Planning Your Retirement

Brady Speers

Retirement

❖ It is of no surprise that most of us already save a good

portion of our annual income into secure retirement

accounts

❖ Before you know it, the day will come when you will have

to start using these funds, and for most people this will

the only source of income

❖ Using your retirement savings is an art within itself and

one has to consider many factors when diving in and

start spending

Best Practices

❖ Being sensible with your retirement assets is far more complicated than

knowing what your annual expenses will be and how to balance your

checkbook

❖ People can successfully increase their assets by remaining informed

about risks and upcoming opportunities that are tied to retirement plans

❖ For example, it is not as easy to make a profit when investing in stock

options, however, many people have found relative success when

trading in secure systems such as government bonds

❖ Hiring an investor is another great resource that can help people grasp a

better understanding of their portfolios and prepare for the future

Best Practices Pt. 2

❖ Monitoring your spending habits is also an important piece when

considering the longevity of your retirement savings

❖ However morbid it may sound, it is easy for retirees to forget that

these funds will need to last until the day you die

❖ Investors insist that people spend somewhere in between four to

six percent a year

❖ These statistics are based on a common understanding that it is

far easier to accumulate funds from your savings than it is to

substitute money you have already spent, which also accounts for

loss of taxes and inflation

Plan & Save

❖ Most people spend their entire lives saving money and

building their retirement portfolios

❖ It is important to create a balance between spending and

investing in order to be in a good place for the future

❖ It is never too late to start planning, and as many experts

suggest the sooner the better