Retirement Planning North Tonawanda NY
Retirement is a big decision for everyone working in today's economy. When you can retire comfortably is a matter that is different for every individual. Taking the proper steps today can help you plan an easy and comfortable retirement for tomorrow. There are many options to choose from to help make retirement the best years of your life.
Mr. Mark O'Connor, CFP®
4241 Maple Rd
Mr. Michael Munschauer, CFP®
36 Woodhaven Rd
Mr. Gary Witten, CFP®
100 Wellingwood Dr
East Amherst, NY
Dr. Anthony Ogorek, CFP®
6400 Sheridan Dr Ste 224
Raimond Financial Planning
1876 Niagara Falls Boulevard, Suite 2
Mr. David Fadel, CFP®
100 Corporate Parkway
Ms. Rosanne Braxton, CFP®
1412 Sweet Home Rd
Mr. Theodore Kubiak, CFP®
2498 Union Rd
Edward Wright Jr., CFP®
239 Windermere Rd
Ogorek Wealth Management, LLC
6400 Sheridan Drive Suite 224
Data Provided by:
You may be years from retiring, or it might be closer than you think. The reasons for retiring can be different for everyone, whether it is for health reasons, job reasons, money reasons, or simply because the time is right. To be prepared for retirement, it is best to start early preparing for this very important step in your life. It is never too late or too early to plan for your retirement.
One important step to deciding when to retire is thinking about how much money you would like to have saved. There are many questions that need to be answered when deciding this. How much money you need will depend on how many bills you will have in retirement, if you will want to travel, if your mortgage is paid off, the cost of living where you will be, inflation, and much more. These questions must be examined and answered when you start thinking about retirement.
Deciding how much money you will need to live the lifestyle you want while retired is important. According to experts, you may need at the very least 70 percent of your pre-retirement income if you plan to live at a comfortable pace. You may need more or less, depending on what activities you plan to partake in.
A crucial element of retiring may just be the making of a will. It may sound morbid, but in reality it is a practical step in planning and ensuring that all your assets are distributed the way you desire.
What is a will?
A will is simply a legal document that spells out how you want your estate to be divided after your death. It is a simple process, although one that does require much thought and planning. You will establish how any of your assets will be distributed, and who gets what.
What are the requirements of making a will?
In most states, you must be 18 years old to make out a will. You must be of sound judgment and mind. The will must clearly state that it is your will. Most states require that a will be typewritten or computer generated, although there are a few states that accept handwritten wills. You must also sign a will in front of at least two witnesses.
It is not necessary to have a will notarized or done by a lawyer; however, you may want to do so to avoid any discrepancies after your death. You may also wish to have the legal advice of a lawyer when making a will, as they can explain to you the finer points and laws of your state.
It is wise to receive the help of a financial advisor to help plan your finances for your retirement. A financial advisor, or planner, is a professional who can give quality investment advice and help plan financial issues with either individuals or businesses. The main job of a financial advisor is to help the person they are working with maximize their net worth by properly distributing their assets. Financial advisors may use stocks, bonds, and insurance products, for example, to meet the goals that the client has set forth.
A financial advisor typically does receive a commission for their services. A newer payment plan is called "fee-based" and is becoming a more popular way to plan in the industry.
When choosing a financial planner to help plan your retirement future, there are many things that should be asked first. Find out how much experience that person has and what their qualifications are. Ask what their approach is to financial planning to make sure you are on the right page when it comes to your future. Find out if the financial planner you would like to choose has had any criminal charges or allegations brought against him or her, and why. Finally, learn about their fee up front, and ask for everything in writing.