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Smooth Sailing Into Retirement


Calm Waters

You’ve likely felt flutters of excitement when thinking about the prospect of finally retiring one day and having less responsibilities and more time on your hands. Or maybe that sudden vacuum of a schedule actually feels a little scary! Wherever you stand on this topic, we have compiled some tips to make the eventual transition a bit more smooth. As the adage goes, ‘fail to plan, plan to fail.’ Conduct a Budget Analysis The most obvious benefit of employment is bringing home a steady and hopefully sizable paycheck, but what that will look like in retirement will certainly be different. Before starting this new chapter, here are some helpful things to consider in regards to monthly costs: Housing Is your home paid off and is it your forever home? Will you be downsizing? Do you hope to move to a new area to be closer to family? Do you want to snowbird and purchase a place in a different climate? Healthcare Have you had a physical from your doctor lately to understand what your upcoming changes to your daily life may need to look like to ensure longevity? Daily Expenditures Do you anticipate spending more or less money now that you won’t be working? Maybe your long commute (and high gasoline bill) will go away but maybe you intend to join a country club with annual fees. Of course we can’t know everything that will shift but it’s helpful to think about all of our exciting future options. Account for Inflation Unfortunately we’ve been dealing with high inflation over the last few years so don’t forget to consider this when budgeting for the future



Allow for Flexibility Regular conversations with us, your fabulous financial advisor team 👯, are important to continue to ensure you’re still on the right track to smooth sailing in retirement. We’ll be able to review your investments alongside you, discuss goals, and make sure your portfolio continues to be balanced to ensure the right amount of risk and security. Even if you feel confident, it always feels reassuring to get a thumbs up from a knowledgeable second party.



Take Up a New Hobby


Plan for the Fun Stuff! We always encourage our clients to spend on things that make them joyful - and not to procrastinate on finding what it is that brings them joy! If you’re one of the lucky people who has always been passionate about gardening 👨‍🌾 and home decoration🪞, but finds little time for it, then you’re on a great track for finding a fast fix for all of the time you’ll have on your hands in retirement. If you’re someone who has felt strapped for any free time at all, it’s worth dipping your toes into maybe a weekly piano lesson 🎹 or monthly book club 📚 to see if these are things you’ll want to pursue in retirement once you’ll have more time to dedicate to this hobby! Some folks feel disoriented and rudderless once they have no set agenda, so try new things prior to retirement to help guide your new phase in life! All this being said, we are excited for you and even more excited to be a part of the planning process. There are plenty of detailed and complicated financial aspects to consider when moving into retirement, so please don’t hesitate to run any of the questions that come up by us.

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