COLUMBIA, S.C. (WIS) - Most people approaching retirement, or even in retirement, have financial concerns and a lot of questions.
A few include “Do I have enough money saved?”, “When should I start planning for Long-term care?”, “Am I prepared for tax rates to go up?”
Josh Bradley of Capital City Financial Partners says you’re not alone and many people have those fears.
“Just like setting out any kind of new year resolution, like getting in shape, you want to sit down and identify the simple goals and accomplishments that you’re looking to have. Then, identify the negative impacts that could happen or the unexpected and create a good plan to address those issues.”
There are also economic factors that might influence your decision-making. Bradley says he often meets people who plan to work until they can’t anymore. Bradley says that may be well-intentioned, but it isn’t the best route to take.
“There are a lot of things outside your control. We’ve seen that happen this past year. Back in 2008 when the economy went bad, people lost their jobs, cut their jobs, then they’re having to retire when the market is not doing well when interest rates are low ... there’s just a lot you can’t control. Once again, a positive attitude is great, but a plan to go with that attitude is better,” Bradley said.
Bradley also says it’s important to reach out to the right people when you seek help.
“You’re going to want to go to an advisor specifically focused on the goals you’re trying to accomplish. If it’s accumulation, go to an advisor focused on growth. If you’re looking to answer these specific questions about retirement, you want an advisor that’s spent their career and is focused on those retirement issues.”
Visit this link to take your Checklist Challenge today!