If you haven’t given any thought to your plans after retirement, you wouldn’t be the first American worker to do so. In a Transamerica survey over 4,000 workers were asked about retirement and a little over half said they thought they could probably retire comfortably. These same workers also admitted that they weren’t exactly sure how much they should save and where to start with their planning. This is where a retirement planner would be a big help. These financial advisors can make sure that you have enough money to enjoy your golden years and here in Columbus there are plenty of resources to help with your future.
One of the big things that deter people from starting their retirement planning is that it can be a complicated situation with many factors coming into play. In fact, the Certified Financial Planner Board of Standards suggests you take into account areas like estate planning, long-term care options, health care costs, and post-retirement income.
That last area, income after you retire, is perhaps one of the most stressful. You want to make sure that you have enough to live comfortably and your daily needs are met. Most seniors will rely on Social Security benefits and you can start collecting this once you turn 66 but you might want to hold off for as long as you can. At age 66 you can collect 100% of your monthly benefits but wait, even just one year, and you could collect 108%. The percent continues to rise until you reach age 70 and collect 132% of your monthly benefits.
You might have been saving some money in various accounts to help with your income after you retire and if you have a saving account or retirement fund you could possibly save money here too. Depending on the order you withdraw money from these accounts you could get a tax break and get more money in the long run. A retirement planner will be able to look at all of your accounts and help you figure out a strategy to use your money in the best way possible.
You can also figure out the best age to require that will help your financial situation. In some cases, you might be able to retire at 65 or it might be better to delay it for a few years. It also could be better to continue to work part-time after you retire if you’re able. In Ohio, over 300,000 people in the workforce are 65 or older.
You can start by getting a referral from friends or coworkers and talking with your employer to see if they have any retirement services available for you to use. There are also Certified Financial Planners all over Columbus and you can find them through a few different avenues.
The National Association of Financial Planners can help you find any type of financial planner in your area. After you enter your location, you can refine your search by clicking on all retirement options and picking the distance in miles from your city. The Certified Financial Planner Board of Standards also has a search tool on their website and after you enter your location you can narrow your search to retirement planners.
The BBB of Central Ohios not only lets you search for local financial advisors but it lets you see user reviews and go over any business reports to research each group before you make your choice.
The website for the treasurer of Ohio is a great resource for people looking to plan their retirement. You can find out about workshops that are held all over the state, find out where the Columbus Smart Money Choices Conference will be held each year, and even look through a Smart Money Choices Retirement Planning Presentation. If you want to find out more information, you can call the Central Ohio office at 614-466-2160.
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