Here are some questions to ask:
What are your interests?
Think of the ways you’d like to spend your time during retirement. Is there a hobby that you’d like to pursue? Would you like to do volunteer work? Do you want to travel, start a business, or go back to school? Whatever it is you decide to do during retirement will set the course for your financial planning.
Will you relocate?
It’s not uncommon for retirees to relocate. Many choose to live in places where the pace of life is much slower, and where the cost of living is lower so that they can stretch their resources. Some decide to move closer to family so that they can spend more time with their grandchildren.
Where you choose to settle should be factored into financial planning – whether you decide to stay close to home, move to the countryside, or fly to that exotic location you’ve always dreamed of.
How much are your contributions?
Take stock of your contributions and how much money is going into your retirement account. There are free retirement income calculators online that you can use. This will help you determine if you’re accumulating enough money to live the way you want to after retirement.
Where is your money invested?
You need to know where your money is invested, whether it’s in stocks, mutual funds, and such. It’s generally advisable to diversify your investments so that you can enjoy more flexibility when you pull money out later on. It also helps to redirect your contributions to legit cash investment options a few years before retirement.
How much debt do you have?
It can be difficult to plan for retirement when you’re overwhelmed by so much debt. Student loans, mortgages, car payments, and credit card debt are just some of the things that can weigh you down. These debts must be paid off by the time you retire.
Financial guidance
When your retirement lifestyle is on the line, you’ll need the assistance of professionals who will ensure that you live the best years of your life in security and comfort.
Thrivent Financial is a not-for-profit member organization of Christians that aims to help people get the most out of their retirement plan. They design financial strategies that enable you to make smart choices when it comes to money.
Not only do they earn consistently high ratings from independent insurance ratings analysts, their capital position also ranks among the strongest in their industry – which means that the organization has the money to make good on its promises.
Their products and services include:
Life insurance
Annuities
Mutual funds
Tailored guidance from financial representatives
With over 2,300 financial representatives who work out of regional financial offices (RFOs) across the country, the organization’s owner-members will help you get a clear picture of your finances. Just go to an RFO near you and you’ll be matched with a local Thrivent Financial Guidance Team®.
With a team of well-meaning experts on your side, you’ll be able to determine which products and services best address your unique situation. Get one-on-one support from a representative. Manage your accounts online. Maximize all your opportunities and resources.
For more information on Thrivent Financial, call their Newbury Park office at (805) 375-3215 or visit their website.