“Planning is bringing the future into the present so that you can do something about it now.” – Alan Lakein
Are you and your spouse beginning to consider retiring? The chore of retirement planning can seem overwhelming, especially if you aren’t sure where to start. But don’t worry, you can secure your future together with diligent preparation and assistance from a Registered Financial Consultant (RFC). The significance of retirement planning for couples and how to plan jointly will be covered in this article.
Establish Common Goals: The first step in preparing for retirement as a couple is to sit down and talk about your shared objectives. When do you intend to retire? is a good place to start. What do you require for retirement? Where do you envision residing once you retire? Together, you can come up with a clear vision for the future and make sure you’re both heading towards the same direction by coming up with answers to these questions.
Assess your Retirement Needs: Analyze your needs for retirement. Calculating your anticipated retirement costs, including those for everyday living, healthcare, and travel, will help you achieve this. You should also take into account the sources of your retirement income, such as your assets, Social Security benefits, and savings. We have a pre-retirement checklist for Filipinos that can offer direction in determining your retirement needs to assist you with this. By getting in touch with us, you can quickly receive this checklist. Important topics including calculating your monthly retirement expenses, assessing your present retirement resources, and locating any potential gaps in your retirement plan are covered by this checklist. You can take proactive measures to secure your financial security and reach your retirement goals by using this checklist.
Create a Retirement Plan: You can create a retirement plan that works for both of you based on your requirements and aspirations. This approach should contain an investing strategy that is in line with your risk tolerance and investment goals, as well as a budget that specifies how much you need to save and invest each month. To make sure you’re on pace to reach your goals, it’s crucial to evaluate and revise your retirement plan on a regular basis.
Retirement planning doesn’t have to be a daunting task, especially when you have your partner by your side. By working together, you can create a future that you both look forward to, filled with new adventures and exciting opportunities. But to make your retirement goals a reality, you need a solid plan in place. That’s where a Registered Financial Consultant (RFC®) can help. With their expertise and personalized guidance, you can create a retirement plan that aligns with your unique needs and aspirations. Imagine being able to travel the world or start a new business venture during retirement, all while having the financial security you need. It’s all possible with the right planning and support. So, if you’re ready to secure your retirement as a couple, don’t hesitate to book a consultation with an RFC® today. Let them help you turn your retirement dreams into a reality!
Disclaimer:
Just a reminder, dear reader, that the content in this column is my opinion only and should not be construed as investment advice because I am not your financial adviser, neither did I take into consideration your personal objectives, financial situation, needs or circumstances as your fiduciary. This column is mainly for your entertainment and education only.