Before developing a Retirement Plan there are three important questions which need
to be considered:
Once you address these questions then we can work together towards developing a plan
to reach your retirement goal.
Due to the ever increasing life expectancy of humans, it is necessary to plan on have
retirement funds to last between twenty and twenty-five years and, perhaps even longer,
depending upon your planned retirement age. When determining the capital that will be
necessary for retirement it is wise to address at least three additional areas besides
life expectancy:
As a general rule it is wise to plan on having very little, if any, additional capital
besides personal savings available to fund your retirement. If additional capital
does eventually become part of the equation, then the addition will come as a pleasant
surprise during your retirement years. As for inflation, we strongly suggest that
you assume some level of inflation in retirement computations. We typically recommend
use of an inflation factor based on historical results.
Some of the primary types of investment programs that may be available to you as an
investor include:
Not all of these plans will be available to every investor. For example a
self-employed individual will likely not have the opportunity to invest in an
employer-sponsored 401(k) Plan however, the self-employed individual may instead be
able to utilize a SEP or SIMPLE IRA.
At Richest Capital our Retirement Programs explain how one can maximize the use
of these and other investment plans in formulating a retirement plan. After deciding
which investment plan or plans work best, we can work with you in determining what
investment vehicles will work best for you within the selected investment plan(s).
Some Investment Vehicles include:
The mix of investment vehicles such as those listed above is often referred to as
an individual’s Asset Allocation. We can work with you in determining what type of
allocation you will be most comfortable with. This will be largely dependent on your
comfort with risk and your time horizon.
At Richest Capital we believe that Retirement Planning does not stop when you
reach the retirement goal. Instead, planning becomes even more crucial after you
reach retirement, particularly with regard to Asset Allocation (the mix of your
investment vehicles). In addition to assisting you in reaching your retirement
goal, a solid retirement plan should enable you to maintain your desired lifestyle
throughout your retirement years.
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