In a survey of over 4,000 U.S. workers, Transamerica discovered that over half of them had no idea how much money they’ll need for retirement.
Retirement planning can’t be left to chance. Without a firm plan on how you’re going to approach your post-working life, you run the risk of a diminished living standard. As we approach retirement age, we all need to know how to best maximize our income and prevent losses to taxes and poorly timed withdrawals of pension funds.
You can rely on a certified financial planner to advise and guide you through the complexities of pension income, taxes, and the matrix of rules and regulations that will influence your income.
There are financial planners in Chandler, Arizona that will provide the assistance you need. Continue reading to familiarize yourself with the available options.
There are many factors to consider when planning for your retirement. According to the CF Board of Standards, you should consider a plethora of factors as a financial planning client. Long-term care, estate planning, health care, insurance, and retirement income are just some of the vital issues that must be dealt with.
Use a financial planner to assemble a retirement strategy that will maintain or improve your quality of life in your post-retirement years. You’ll avoid mistakes such as collecting your social security too soon.
Withdrawing too much, too soon from your pension funds can result in tax liabilities. There are different rules for 401-k plans, company pensions, union, and government retirement plans.
A certified financial planner will make sure that your tax payments are low while maximizing your monthly income.
Use a financial planner to keep more of your money.
You need a financial planner to discover whether you should continue working after retirement. If you’re short of the necessary funds to finance your golden years, your planner will tell you what you need to do. His job is your financial security and helping you to maintain your lifestyle comfortably.
There are respected organizations that provide lists and search tools that will help you find a knowledgeable financial planner. Visit the CFP Board of Standards website to use the searchable database they provide. Enter your location, then narrow it down to specialty and even how they’re paid.
Barron’s, the respected source of financial information, provides a list of the top financial advisors for every U.S. state. Visit the top advisor rankings for Arizona here.
The Better Business Bureau of Arizona has a useful list of BBB-Accredited financial planners. You’ll easily find respected financial planners to help you there.
As you near retirement, it becomes increasingly important to take action to ensure a successful transition out of your working years. Use these resources to find a financial planning professional who’ll make it possible for you to enjoy a long and relaxing retirement.
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