The Cost of Comfort
- Posted in: Asset Protection
If you’re wondering exactly how much you’ll have to put in the bank to live comfortably when you retire, you’re not alone. But it just got a little bit easier. You now have the recently updated retirement calculator and guide, “Taking the Mystery Out of Retirement Planning”, provided by Uncle Sam himself, to help you figure it all out. And according to The Wall Street Journal, it’s “one of the best resources available.”
We would all like to have the security of knowing that we have enough to live on when we retire. Unfortunately, we have no crystal ball that can tell us with absolute certainty how much will be “enough.” Even the guide referenced above from the Employee Benefits Security Administration—although updated, improved, and easy to understand—can only give you a best guess.
The best way to ensure you have enough on which to retire is simply to stay informed and be prepared. And this is where your advisors can help.
We, as your estate planning attorneys, would work hand in hand with your financial planner and CPA to make sure you can retire in comfort. Your financial planner can help you navigate the murky waters of investing, answering questions such as “How much should I be investing? Where? And for how long?” Your CPA can help you by considering the tax impact of the various investment. And we can give you the tools to protect those investments for yourself, your spouse/partner, and your children or grandchildren.
Don’t let fear or lack of education paralyze you. Get the help and advice you need to take your future into your own hands.