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Did you know that a 65 year old couple in normal health
now has a 50/50
chance of one of the two living till age 92?
Are you still on track for a comfortable
retirement. After the fall 2008 market drops many doubt that they are.
You might be pleasantly surprised. Rely on the numbers not the headlines.
Ask us to update your projections. (no charge for RWTA clients)
Welcome to the age of the 25 to 30 year retirement! Your assets may need to last
a long time making planning for your retirement more important than ever, to
assure your money will last as long as you do.
One of our premier analytical models is our Retirement Projection Model.
We wrote this model ourselves to allow broad variation of many factors,
and to allow you to input exact data to reflect your personal situation.
The results will show us whether you are on track for a successful
retirement (defined as "your money will last through your age 95), or whether you have a shortfall and need to take steps
now. It will make clear your financial trade-offs. For example a bigger house may
mean a later retirement or an early retirement may mean retiring on less income,
etc. Furthermore we now also have available for use "Monte Carlo"
analysis software which shows the probability of success of a given retirement
strategy and "stress testing" to see what would happen with adverse timing of
poor market results.
The process will give you the peace of mind of knowing you are on track for a comfortable
retirement or what steps you need to take now, to assure that.
This analysis typically costs about $250, waived for certain RWTA clients based on their
total assets under management. Exact quote provided on request. If you wish to have us run an analysis, you can email us the following information. We will call to confirm and clarify information, run your analysis, then call or meet to discuss the results with you.
Alternatively you may download and fill in the relevant retirement sections from
the Money Guide Pro Retirement fact
finding form found on the "About You" tab
on this website. We have a worksheet
which can help you determine your desired monthly income. (click to save to your
computer, then do save as)
Information Needed:
- How much money does it cost you to live today, excluding income
taxes and specialty items that won't apply in retirement such as
education, work expenses, loans that would be paid off, etc. A rough
range would be between $3,000 - $15,000/month. How much would you like to
be able to spend per month when retired? Would you like to include extra
money for travel? hobbies? gifts or charity? If so include such in
your monthly total.
- What are you and your spouses current ages and when do you wish to retire?
- Do you wish for a period of semi-retirement, where for example you earn
enough to support lifestyle without using investment income, but with no
additions to your retirement investment accounts? If so for how long.
- What is the total amount of investment assets (not including your
house) that you have today? Make sure to include IRAs, 401(k)s and
other plan where you are accumulating assets.
- Do you expect any pensions? If so, how much, when do they begin, and
do they rise with inflation and if so at what rate per year? Will there be any other sources of monthly income?
If
so, from where, how much?
- What are your salaries currently? Have they been roughly at this
level for awhile?
- Are you both eligible for social security? Are either eligible for any alternative plans such as teachers retirement or civil service?
The information from your annual social security statement such as retirement
benefit at your retirement age would be useful as well.
- Do you reasonably expect any inheritances? If so, how much, and when?
Do you want them taken into account in the analysis.
- What is the value of your home? If it were to allow you to retire
earlier, are you receptive to downsizing your residence? If so what is the
current value of your home and by what percentage would you be receptive to
downsizing. If you have an $800,000 home for instance a 25% downsize would
mean you would be OK to spend $600,000 on your retirement home.
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To contact us about
Retirement Planning click
here to E-mail us.
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