How to Find Kalamazoo Retirement Planning Services
When making life-changing investment decisions, it’s really easy to get lost in the details. Sure, you’ve set some general retirement goals, you’ve assessed your current financial situation, and you’ve likely taken inventory of your assets and resources. But, it’s not always that easy. Wealth management can be incredibly complex and, often, you’ll want to enlist the help of advisors who have experience navigating tax laws, risk management, and other financial pitfalls.
A financial advisor can help you reduce the complexity of retirement planning and, more importantly, help you work toward your long-term goals.
So, how can you get the most out of retirement planning services? It’ll take a little planning, a bit of commitment, and a lot of consideration. But, in the end, if you and your advisor create a solid strategy, you’ll have the best chance of maintaining your lifestyle after retirement.
Get the Most Out of Your Retirement Planning
1. Figure Out and Understand Your Financial Goals
First and foremost, you’ll need to get a clear understanding of your goals, which means defining how you’d like to live after retirement. You should take an inventory of your financial obligations, how much money you have on hand, and what assets you have available. All of the advice that your advisor gives will focus on using your current assets and future investments to achieve the post-retirement lifestyle you desire.
2. Ask About Their Financial Planning Process
Before working with anyone, you need to understand their process. Whether it’s a psychologist, a mechanic, or – you know – a financial advisor, you need to know their qualifications, their risk tolerance, and their wealth management strategies. Once you’ve learned their process, you can decide if it’s right for you. If you plan to retire soon, a more stable strategy may be best for you, but if you’re still years away, you may be interested in a slightly less risk-averse strategy.
3. Work Out How Much You Need to Retire
As of 2023, nearly half of all Americans have zero retirement savings. And, of those that do, many don’t have enough to fully fund their retirement. You don’t want to be in a position where you’re unable to pay your bills, handle emergencies, or live the life you’ve always wanted. So, be sure to work with your advisor to fully define exactly how much you need to retire.
4. Factor Social Security Into Your Retirement Accounts
As a quick aside, you should also factor Social Security into your retirement strategy. Of course, it’s not a lot of money, but it’s a reliable stream of income that shouldn’t be ignored. But, if you intend to retire several years early, you’ll want to save extra money for the years prior to Social Security eligibility.
5. Develop an Investment Management Plan
After you’ve gathered all of this information and laid the groundwork, the professionals at Wiser Financial Group can help you develop a wealth management plan. We’ll work with you to ensure that you’re saving enough, we’ll provide tax advice, we’ll give you guidance on budgeting, we’ll help with consolidating accounts, and much more.
Need Help Securing Your Financial Future?
If you need help making investment decisions, our team is here for you. Since 1960, we’ve been a trusted Independent Financial Advising Firm in Kalamazoo. We’re firmly committed to guiding our clients on their financial journeys and, more importantly, giving them every possible advantage as they near retirement age. So, if you want assistance planning for your retirement, don’t hesitate to reach out to us today.
Are you ready to get started?
If you’re eager to begin your financial journey, the team at Wiser Financial group is here to help.
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