Issues You Should Consider for Your Retirement Plan

There are several issues you need to consider when it comes to planning for your retirement. One of the mistakes most people make is that they wait several years before thinking about planning their retirement. Apart from social security, there are several options available when it comes to investing for your retirement. John Labunski recommends focusing on other investment options, instead of just social security to plan for your investment.

John Labunski

John Labunski

Look at Other Options
Start by looking at your 401k plan and see what other investment options are available to you. While you might not be able to invest in large investment schemes, there are several smaller investment options you will can consider. You might want to consider annuities as a supplementary retirement plan. By contributing the maximum to your 401k plan will help you build up your retirement plan. Inflation is something you need to consider when planning your retirement. Ronald Regal once said, “Inflation is as violent as a mugger, as frightening as an armed robber and deadly as a hit man.” Inflation is one factor you should never forget when planning your retirement. A $60,000/year lifestyle, in ten years will cost you over $90,000.

When considering your retirement investments, add inflation into the equation. Your investment returns should be sufficient to cover your lifestyle costs thirty years from now. Most social security and pension plans will adjust to inflation accordingly, but if you dip into your investments and saving accounts, it will in turn bite you when you retire. It will decrease in value over time and leave you in financial straits when you retire. John Labunski recommends heeding the old adage, “Don’t put all your eggs in one basket”, but investing in other retirement plans that will generate sufficient returns for your retirement.

There is an entire World of investments that are Not available at the local brokers, banks or traditional sources down on the corner. Work with a team that is focused on building and preserving wealth, as well as needs and goals for retirement.

There are Three Phases of Retirement : –

1. Growth…working and building wealth, including retirement accounts.

2. Red Zone….10 years before retirement, your needs transition to safer options.

3. Income….retirement when your assets begin to repay you.

4. Transfer….when you have more than enough assets to serve your retirement, we begin to look at maximizing those assets at transfer to your Estate and heirs.

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