September 21, 2016
As a retirement advisor, all I do each and every day is sit down and meet with people who are looking for a game plan to use and enjoy all the hard earned money they have spent their lives to build.
Case in point, over the past few months, I’ve met with a slew of people who, through no fault of their own, are displaced from work. This includes plant closings, company mergers or acquisitions, downsizing, buy outs and finally, termination from work.
With the trauma of dealing with the unexpected surprise of getting canned, the rest of the saga is just beginning and that is this: what to do with retirement money, either in the form of a lump sum pension or a 401(k) now available to you.
When someone contacts our office to meet with me to discuss their retirement accounts, the first question most of them ask is, “Tony, will I have enough money to live on?”
The response I usually provide is this: It All Depends.
It depends on your current expenses, it depends on how you’ll handle health care, it depends on whether you are going to call it quits or go work somewhere else, it depends on the lifestyle you want to live, and finally, it depends on family issues that may exist. That’s why when it comes to planning for retirement and making your money last, you don’t want to trust just any advisor with your hard earned money. You need a game plan from an advisor who understands what you’re going through.