retirement planning questions

Will 2021 be your retirement year? And how do you know when it’s time to retire? For some, retirement comes at a milestone. Maybe it’s 35 years on the job or your 65th birthday, or maybe your goal is to retire when you have a certain amount in savings. Retirement is different for everyone, and it’s a big decision to make. You might not be ready on your 65th birthday, or maybe you’ll be ready before that. Either way, take the time to decide if you will retire in 2021 by answering these three questions.

Have you saved enough?

By looking at the expenses you expect in retirement and the number of years you will be in retirement, you can get a better idea of how much you will need. It would help if you also prepared for surprise expenses, the lifestyle you want to live, and factor in your tax burden. All of this combined can help show you how much you should have saved and if you are ready for retirement.

Do you have enough to do?

Transitioning into retirement is no small task. It’s important not to overlook how you will spend your time in retirement. Picking hobbies and things that interest you and planning different post-retirement activities gives retirees a sense of purpose. Volunteering can be a rewarding way to spend free time and can help develop new social connections and bonds with the community.

Do you have a plan?

 Retiring without a plan is like driving with a blindfold on. It’s important to know your retirement goals and have a roadmap for how to get there; from how much income you need to generate to how you’ll minimize your tax burden. You can also take the time to review your investment plan at the beginning of the year to help identify what might need to change. We can help you create a comprehensive retirement plan based on your unique situation and recommend adjustments as needed. If you’re nearing retirement or retired recently, make 2021 the year you will prepare for the coming decades.

Maybe 2021 is the year for you to retire, and maybe it’s not. But after the hustle and bustle of the holiday subsides, it’s important to take some time to think it over. We can look at your portfolio and help you determine the right time to retire and how to do it. We can consider your financial situation and your lifestyle goals to help you feel secure in your decision. Schedule your no-cost, no-obligation financial review today to start the conversation.

Epstein & White Financial, LLC (“Epstein & White Financial”) is an SEC-registered investment adviser; however, such registration does not imply a certain level of skill or training and no inference to the contrary should be made. A copy of Epstein & White Financial’s current written disclosure statement discussing our advisory services and fees is available for review upon request or at www.adviserinfo.sec.gov.

Epstein & White Retirement Income Solutions, LLC (“Epstein & White Retirement”) is a licensed insurance agency with the State of California Department of Insurance (#0K53785). All investment advisory and financial planning services are provided only through Epstein & White Financial.

Information contained herein is for informational and illustrative purposes only and general in nature. It should not be considered investment advice or a recommendation to buy or sell any type of securities or insurance products and no investment decision should be made based solely on any information provided herein. We provide this information with the understanding that we are not engaged in rendering legal, accounting, or tax services. We recommend that all investors seek out the services of competent professionals in any of the aforementioned areas.

Investment in securities carries a risk of loss, including loss of principal amount invested. Different types of investments involve varying degrees of risk. It should not be assumed that diversification or asset allocation protects a portfolio from loss or that such will produce profitable results.

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