A key wealth management goal for many of our clients is ensuring that when retirement times comes, our clients can enjoy retirement comfortably. Without thoughtful and intentional planning, the approaching retirement milestone can cause significant distress. That inspired us to pull together some key considerations to keep in mind as you think through your financial needs in retirement.
At the end of the day, no two retirees will live exactly the same lifestyle. Give careful thought to how you plan to spend your years in retirement. Are you planning on exploring all of the national parks or enjoying extravagant vacations abroad? While there is no right or wrong answer here, its apparent that decisions such as these will have financial implications.
Giving back to the charities and organizations closest to your heart is undoubtedly a rewarding aspect to building wealth. If philanthropy is a key aspect of the retirement vision you have for yourself, it should be considered when planning for retirement.
While certainly not the most exciting of the considerations we’ve listed, many people don’t appropriately account for healthcare expenses in retirement. While Medicare will certainly cover some healthcare expense, it won’t account for them all. Appropriate plan can ensure that you’re well-prepared to cover necessary healthcare expenses should the need arise.
By giving careful thought to how you would like to spend your time in retirement and articulating those intentions to your wealth manager, your goals will help inform a wealth management plan that appropriately supports accomplishing them. The experienced Metroplex Wealth team is readily available to talk through your retirement planning efforts in detail. If you’re ready to pursue your financial goals intentionally, contact us at firstname.lastname@example.org or 817-601-5272.