In this episode, Justin Pitcock, CFP®, shares valuable insights on how to estimate your expenses in retirement. Many individuals find it challenging to figure out how much money they’ll need each month after they retire. Justin breaks it down by first reviewing your current cash flow—examining what’s coming in each month and subtracting any retirement or non-retirement savings to determine your present cost of living. From there, he accounts for inflation and considers changes in expenses like healthcare, insurance, and taxes. He also highlights the importance of working with a financial advisor to optimize your retirement plan and ensure your financial peace of mind.
For more resources check out our guides page and download one of our free guides. Here is one example below.
7 Steps to Planning For Your Happy Retirement
Retirement is a significant milestone in life, and proper financial planning is crucial to ensure a happy and secure retirement. If you are over 55 years old with over $300,000 in investable assets and are asking yourself, “Can I retire?” This guide is here to help you gain confidence, peace of mind, and a sense of security. Following these steps, you can assess your financial situation, set achievable retirement goals, and determine if you are ready to retire.
What can I expect on the intro call?
On your introductory call, our consultant will ask you questions to get to know your story and financial goals.
If you want to prepare, the most thought provoking question you will be asked to answer is: “If we were meeting again 3-5 years from today, and you were looking back over time–what would need to happen to be happy with your financial progress?”
Our consultant will also ask you about your pain points, whether you have worked with a previous advisor, what success looks like when working with an advisor, any debt you might have, income streams, investments and your retirement plan. Our consultant will spend time addressing your questions and, if you request it, will set up a free follow-up consultation with one of our advisors.
If you want an expert in Canton, GA who can give sound advice and help you navigate how to invest your wealth best and plan for your retirement, reach out to us to schedule a quick call. One of our CFP® professional wealth advisors would love to discuss your individual goals and options with you. The first step in our process is to schedule a free 15-minute intro call with our Goodwin Investment Advisory consultant here.
The Money PIG podcast is hosted by Reid Trego. Goodwin Investment Advisory is a Registered Investment Advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Goodwin Investment Advisory does not render or offer to render personalized investment or tax advice through the Money PIG podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.
Disclosure – All investment carries risk, and we cannot guarantee performance or results. Past performance does not guarantee future results. GIA does not earn any compensation from any of the non-GIA links provided in these resources. The market insights, podcast, blogs, book recommendations, self improvement thoughts, food recipes and activities are based on our perspectives and experience, and may not apply to your unique situation or be appropriate for your health and wellness. We are not aware of any conflicts of interest relating to any testimonials or endorsements. Please contact us for any questions relating to the content above, or to discuss how we can support you in your specific situation, and help you to reach your financial and personal goals.
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About the Author: Tara Bruce
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