The earlier you begin saving for retirement, the more time your money has to grow. Gains on investments can compound over time. For example, if from age 25-35 you save $3,000 a year in a tax-deferred retirement account, at age 65 your $30,000 investment will have grown to more than $472,000, (assuming an 8% annual return).
Once you’ve entered the “retirement red zone,” planning may take a different course as you consider the impact of healthcare costs in retirement or the effect inflation may have on your retirement income. We can help you get a clear picture of where you stand and recommend any changes to make during this crucial time.
After you’ve left the workplace and settled comfortably into retirement, your financial focus may shift. Your retirement savings now becomes your retirement income. How can you make your money last and leave a legacy too? We have ideas for you to consider.