“When Can I Retire?”
Manage episode 396103210 series 3423688
The question ‘When can I retire?’ is one we get quite often. Rather than viewing retirement as a fixed dollar amount or an age milestone, it's a complex question that requires careful analysis. Unfortunately, many investment brokers and media personalities offer generic advice without understanding individual circumstances. But your retirement date cannot be determined by a one-size-fits-all approach.
Listen in as we discuss the role of careful planning when it comes to determining your retirement readiness. We’ll also talk about some common fears and misconceptions surrounding various financial tools and the importance of actively participating in your financial planning process with the help of a financial professional.
Here’s some of what we discuss in this episode:
- The decision to retire involves two key aspects- determining when you can retire and being truly ready for retirement with a well-thought-out plan
- Retirement planning should be highly individualized, taking into account factors such as lifestyle, Social Security, pensions, and investments
- The importance of diversification and risk management in a well-balanced portfolio
- Even if one spouse takes the lead in financial matters, both partners should actively participate and have a basic understanding of their financial situation
Key Takeaway:
“There is no best thing to do that is generalized…it has to be planned individually, or you're not doing the best thing for you.”
We can assist you on your journey to financial freedom:
https://www.askfreedomfinancial.com/
205.988.0006
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