Retirement Planning Santa Barbara

Why Is Retirement Planning Important?

Retirement planning is essential, but do you really know how to do it effectively? The truth is that retirement planning is about more than just saving money. It’s about making smart decisions, and those decisions start long before you reach retirement age. For instance, do you know which investment categories will provide the best income? After you retire, do you know which accounts you should withdraw from first?

When it comes to retirement planning, some of the life decisions that will impact your retirement involve things like how to take care of your children and parents while you’re still working without sacrificing your own retirement efforts. It involves considering your plan five to 10 years before you retire, when you still have time to shift things around, and possibly lower your tax burden—which can net you more retirement income.

The Top 3 Retirement Concerns

Will I have enough money to live on during retirement?

According to Investopedia, surveys have found that the number of Americans without retirement savings is between 20% and 46%. Gallup found 40% of adults, AARP found 20% of age 50+, and the Federal Reserve found 28% of non-retired adults had no investments for retirement at all. Let’s make sure you are not one of these statistics!

Will I be able to afford the costs of healthcare during retirement?

A USA Today article estimates that a retired 65-year-old couple can expect to pay $333,000 in out-of-pocket health care expenses including premiums, co-pays and deductibles. This illustrates that Medicare is far from free. And remember, Medicare doesn’t even cover long-term care if you need it.

Will I be able to maintain my lifestyle and legacy after retirement?

Baby Boomers have an estimated median retirement savings of $194,000, not nearly enough for retirement which can last up to three decades or even longer. Based on information from the Bureau of Labor Statistics, adults between ages 65 and 74 spend, on average, $48,885 a year. Let’s talk about retirement income!

Our Investment Approach

Our proprietary approach to investing, called the TRIAD, diversifies your investment portfolio into three categories: safe, income, and growth. This approach has a greater chance of providing you a cushion during times when the market is performing poorly.

Our Approach

The Time for Retirement Planning Is Now

Even if you’ve talked with an advisor before and have a decent grasp of some of these topics, knowledge alone won’t get the job done. You have to take action. That philosophy is proven in a recent survey conducted by AARP. In short, 87% of those who took the survey believe retirement planning is important, but only 42% feel they’re actually prepared. Knowledge means nothing if we don’t take action.

We can provide a second opinion and help you take that action. We’ve been helping others do that very thing for more than 25 years now. In that time, we’ve managed to win the Santa Barbara News Press Readers’ Choice award for top financial advisor 16 times.

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Attend an Event

We routinely host educational workshops, seminars and webinars that offer solutions to our clients’ most common problems. We’d love for you to join us.

Events