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You need a retirement income analysis

Playing Soccer One of the most common concerns we hear as financial advisors is: “do I have enough money to retire?” Thought of another way: “When will I have enough money that I can quit working and retire comfortably?” Performing a retirement income analysis as part of your retirement planning can help answer this question more accurately.

What is a retirement income analysis?

This analysis creates a detailed picture of where you stand today and identifies the various income sources available to you.  This may include a monthly pension, social security benefits, guaranteed annuity income, dividends and interest, and more. It also helps to quantify your expected monthly budget, mortgage payments, auto loans, home utilities, and other expenses. Then, examine those expenses in detail versus your expected income, making sure you have the funds necessary to meet your expenditures and your desired lifestyle.

Why should I do a retirement income analysis?

One of the most common concerns we see from our clients is their desire to continue a comfortable lifestyle during their retirement years — without the fear of running out of money.

Another common situation: clients who are contributing regularly to a 401(k) plan through their work, individual IRAs, and are even building a stock or mutual fund portfolio over the years. But those folks don’t always know if the money they are working so hard to set aside will be adequate to accomplish their retirement goals. Similarly, they’re often unsure when they will have enough to retire versus continuing to work. A detailed analysis can answer these questions!

Looking at Financials

Talk to a financial advisor to get started

It takes a lot of money to retire these days. At the rate everyday costs of living are increasing, it will take more than many expect to retire in comfort. This makes a detailed analysis that much more important in today’s world.

Plus, the sooner you have an idea of what you’ll need, the sooner you can set a goal to achieve and know whether you’re on track to make your retirement a reality. Contact your Financial Advisor and arrange a meeting to walk through a retirement income analysis.


September 2019

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. No strategy assures success or protects against loss. Investing involves risk including loss of principal. Securities offered through LPL Financial, Member FINRA/SIPC. Investment advisory services are offered through LPL Financial, a registered investment adviser, or Allen & Company of Florida, LLC. DBA Allen & Company, a registered investment advisor and affiliate of LPL Financial.