We' Can Answer Your Questions About
Retirement
The Big Question:
Do I have enough to retire?
“Do I have enough to retire?” This is a question you may be wondering about. It’s the ultimate question when it comes to your financial future. Healthcare costs are rising. Everyday living expenses are also up. Even basic food and housing costs increase more and more every year. But, how can you know if you have enough to retire?
Although there are several factors to answering this question, there is hope. We can find an answer. One thing you may want to do? Calculate a basic inflation rate.
Most professionals agree that is around 2% per year in increased costs. So, take your typical yearly expenses, and add a compounding 2% each year. For example, let’s say you need $40,000 per year to cover all your expenses. At a 2% inflation rate, you’d actually need $40,800 next year to maintain the exact lifestyle.
You can work with a professional to help you determine the right amount of income for you. If you meet with us at Four Star Financial Group, we can walk you through this. Inflation is one element of helping you answer the “do I have enough to retire” question.
Making a Budget
Expenses are yet another critical aspect of planning for retirement. We can work with you to determine your expected retirement expenses.
You should create a monthly budget. First, determine how much you intend to spend on the essentials, such as housing and food. Next, be sure to include the “extras.” For example, a dining out budget item, or a line item for gift-giving.
Lastly, always have an “unknown” or “just in case” section of your budget. This will protect you in the event of unexpected costs. And, in addition, this can give you a way to create some savings each month. If you don’t use this money, now you have some extra. A little bit of breathing room goes a long way in helping you make sure you have enough to retire.
Contact Our Team To
Prevent Loss and Retire Well
It’s crucial to learn more about ways of protecting your principal in retirement. If you do it with the right combination of tools, you can also get yourself a reasonable rate of return.**
At Four Star Financial Group, we want you to be able to give a confident “yes” when asked, “Do you have enough to retire?”
Help us help you.
Looking to Learn More?
Contact us for a no-obligation, one-on-one meeting. Or, you can reserve a seat at one of our informational seminar events. These events are complimentary and come with a gourmet meal (also at no cost to you) which we offer in order to ensure you have an enjoyable experience while you learn.