Is your current retirement plan meeting your financial goals and letting you live the lifestyle that you desire?
Many people believe that retirement planning ends once a person stops working, but a solid plan will continue long after retirement begins. A quick glance of the FAQs concerning your retirement income planning at Los Angeles could be of great help:
Why is meeting with retirement financial advisors important?
While retirement planning should begin as early as possible in a person's career, market changes, inflation, insurance needs, and financial goals can vary greatly between a person's younger years and their retirement years. Due to this, it's very important to continuously assess your retirement plan to make sure that it's working for you.
Financial or retirement planner charges are generally a percentage of the amount of your money (and asset value) that they are managing. It usually ranges from 0.25% to 1%. Some advisors even charge a flat annual or even hourly rate.
Samuel Rad and his team of retirement planning experts in Los Angeles, California and the surrounding communities maximize their retirement, regardless of which stage of planning they're in.
What's part of a good retirement plan?
According to the Center for Retirement Research, with rising life expectancy, there is an increased possibility of high out-of-pocket medical expenses. One of the biggest myths surrounding retirement planning is that at a certain point, it becomes too late in life to get the process started, but that's simply not true! If you're close to retirement and haven't started planning or even if you've already retired and you already have a plan, it's never too late to go over your options.
Before calling Samuel Rad and his team of the best financial advisors in Los Angeles to find out how to maximize your retirement plan, here are a few items that are part of every good retirement plan to help get you started:
Knowing what your income will approximately be when you retire or knowing what it is if you're already retired.
Estimating or knowing what your expenses will be when you retire or what they are if you're currently retired.
Assessing insurance policies to make sure that they meet your financial goals and also your family's needs.
Knowing what your savings or retirement accounts are and what return rates you're getting.
Knowing what your assets are.
While the items above are only part of what goes into every good retirement plan, they can get you thinking about whether your current plan is working for you. To schedule an appointment to discuss your individual situation further, contact Samuel Rad and his team.