Happy Friday Reader βοΈ
As you probably know, I spend most of my days talking with people who are either retired or getting close to it.
And one of the things I love about these conversations is how much I learn about the questions and concerns people have as they approach retirement.
There's one thing in particular I've noticed that I wanted to share.
Most people have a pretty good idea of how much money they've saved. They know roughly what they'll receive from Social Security, and many already have a financial advisor helping manage their investments.
But ask them how much they can actually afford to SPEND throughout retirement?
That's often a much harder question.
And even if they've figured that out, how do they know when it's smart to cut back on spending? Or when their plan actually supports spending MORE?
It got me thinking...
You may have an investment advisor. But do you have an INCOME advisor?
Someone who's helping you understand not just how your money is invested, but how those investments translate into the retirement lifestyle you want?
And there's a lot more to that conversation than just investment performance.
What happens to your retirement spending if you change your investment allocation? How should changes to Social Security, Medicare, or tax laws affect your decisions?
And perhaps most importantly, how do you keep up with all of this as things change throughout retirement?
This is where I'm getting pretty excited about what technology is making possible.
I've offered free retirement income analyses for years, and I'll continue doing that.
But even a great retirement analysis is ultimately a snapshot in time.
What if we could take that a step further?
By linking your existing investment accounts and regularly updating your retirement projections, we can monitor how your plan is holding up and identify opportunities to make adjustments along the way.
Maybe your plan now supports another $500 or $1,000 per month in spending.
Maybe it's time to temporarily pull back a little.
Or maybe there's a tax planning opportunity that deserves some attention.
The idea is to make your retirement plan something that evolves WITH you, rather than something you have to remember to update once a year.
I'm working on expanding this kind of ongoing guidance at Safe Wealth Planning, and one of the things I particularly like is that you wouldn't necessarily need to change financial advisors or move your investments to benefit from it.
I'll be sharing more about how this works in the coming weeks.
But in the meantime, I'm curious...
Would you find it valuable to have someone proactively monitoring your retirement income plan and helping you identify opportunities along the way?
Just hit reply and let me know!
Matt