Retirement planning is very important, but do you have any idea where to start? Many Americans know that they need to plan for their retirement but it isn’t always an enjoyable task and few know exactly what they need to do. In fact, a Transamerica survey of over 4,000 workers found that a little over half had any clue what to do with their money and most knew they needed to learn more. A retirement planner can be a huge benefit if you’re one of the American workers who isn’t sure what to do for your retirement and luckily there are plenty of resources in Sacramento to help you out.
When it comes to retirement, the Certified Financial Planner Board of Standards suggest that you cover a variety of post-retirement issues. This includes estate planning, long-term care, post-retirement income, and your health care needs.
Income after you retire can be a tricky and complicated issue. It’s important to fully understand all of the benefits because if you choose the right option for you, you could actually end up getting more money in the long run. For Social Security, you could start collecting at 66 and get 100% of your monthly benefit but wait just a year and that could go up to 108%. By the time you reach the age of 70 you could be earning 132% as long as you delayed collecting.
There is also a certain order in which you should use your savings and retirement accounts because it could end up saving you money in taxes over the long haul. This is where a planner comes in handy because a good one can look at all your funds and allow you to protect as much money as possible so you can live comfortable.
Another issue to keep in mind for a retirement planner is to consider whether you will want to retire right at 65, delay your retirement, or switch to working part-time after you retire from your full-time job. About 740,000 seniors in California age 65 to 74 are still working, which is nearly double from the year 1990.
Sacramento has plenty of Certified Financial Planners and you should talk with your friends and coworkers to see if they have any financial planners that they trust in your area. There are also a few ways that you can search for reliable retirement planners in Sacramento:
The National Association of Personal Financial Advisors has created a database for local fee-only financial planners in Sacramento. You can look through all the planners and find financial planners that not only specialize in retirement planning but tax planning and wealth management.
You can also search the CFP Board of Standards database for more local planners in your area. You can refine your search so you only locate retirement planners in Sacramento.
The Northeast California Better Business Bureau lists over 20 retirement planning businesses in the Sacramento area. You can look at their reviews and ratings to see which is the best option for you.
The Retirement Security Center is a financial planning center located in Sacramento that has dozens of resources available to help you plan your retirement. Their tools include things like
Online video seminars
All aimed at helping you plan for your retirement. They have a special program that can help your employer support you through your job and into your retirement so you don’t have to worry about your funds after you leave work. You can find out more information by calling (916) 868-3900.
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