We’ve all had those days. Those mornings over the course of our careers when getting out of bed and going to work was the last thing we wanted to do, but you did. You worked hard for decades and you’ve finally done it. You reached the point where you’re ready to retire. That first Monday when you sleep in as late as you want…There are few moments as glorious.
This is the point where many retirees face one of the hardest aspects of being retired: switching gears (mentally) from amassing wealth to supporting yourself with it. This transition from accumulation to distribution sounds obvious, but you might be surprised by how strange it feels. You spent your entire adult life earning a paycheck and always adding to your retirement savings, your nest egg. Now your nest egg is as large as it is ever going to be and you need to be strategic about how you spend against it. Then you realize it: Your savings are finite now.
When this finally sinks in, unless you’re Warren Buffet, you might feel butterflies. You may find yourself staring at the ceiling at night, thinking about the question that all retirees stress over. “Am I going to outlive my savings?” You’re supposed to be enjoying life to the fullest, not losing sleep with this uncertainty hanging over you. It’s ironic because technically, at this point in time you are the richest you ever have been or will be again, yet instead of confidence, you might feel vulnerable if you do not know how long your nest egg will last.
Raymond Marx Financial Services has the solution. And with offices in Asheville North Carolina & Tampa Florida, it’s fast, painless, and most importantly, could add years of income to your portfolio. At Raymond Marx Financial, with almost 25 years of retirement planning, we have the experience helping retirees ensure they’ll never outlive their savings. It starts with a complimentary financial review where your advisor will get to know you and your story, ask about your goals and profile, explain some financial retirement realities and ultimately help you make some educated decisions by guiding you through factors that affect your income level.
Financial Retirement Realities:
- With modern medicine, you’re going to live longer.
- Due to inflation, things will certainly get more expensive.
- You can’t afford nearly as much risk as you used to be able to.
- Let’s be honest… You are not going to spend less in retirement.
- You’re retired, which means no more paychecks every other week.
- You’ll live with the decisions you make today for the rest of your life.
- With the right financial strategies you’re going to not only live longer, but also better.
The Income Questions:
- What other sources of income do you have, like a pension or Social Security?
- Do you want to leave something for your family when you’re gone?
- How soon after retirement will you need to start receiving income?
- Are you expecting an inheritance at some point in the future?
- Are you done working, or are you only partially retiring?
- How much income will you need on an annual basis?
- Do you have savings tucked away anywhere else?