The day you retire is the day all your plans and investments come to fruition so you can live and enjoy the comfortable lifestyle you planned for.
The next step is to ensure your money lasts while living in retirement so you can continue to afford things like:
- Good food and quality clothes
- Enjoy the occasional holiday
- Maintain private health insurance
- Replace or buy household items and electronic equipment
- Owning and maintaining a reliable car
- Participate in regular leisure and recreational activities to keep you healthy in body and mind
- Afford those unpleasant, unexpected, surprises that can come up in retirement
How do I make the money last?
The most important components of setting up an income stream in retirement are seeking professional tax advice and working with your Advisor on an ongoing basis. To ensure that you continue to meet your financial goals and objectives in retirement, your investment strategy needs to keep working for you. Continuing to review your savings and investments in retirement will safeguard your retirement nest egg, see it continue to experience capital growth and be used to its’ best effect.
At Baggetta & Co, our goal is to help our retired clients feel like they are still living on a wage or salary. We help them turn their retirement nest egg into a convenient, secure and tax-effective income stream. We help them extend their savings with a number of strategies and investments to optimize their income stream and allow them to enjoy and maintain a comfortable lifestyle.
Reviewing your investment strategy in retirement is important to:
- Ensure that you continue to have the right asset allocation in place so your retirement nest egg continues to work for you
- Review all sources of income, including government assistance, for any opportunities that make themselves available to you
- Look at opportunities to stretch your nest egg further if needed. Especially if your most carefully laid plans for retirement fall apart due to unexpected events such as a family death, lengthy illness, poorly performing retirement plans, a stock market crash or changes in Government policy
- Protect your Estate so you can pass it on to your children
- Keep you on track to continue generating income for retirement that could last 30 years or more.
Our Core Service Areas
Why have a Financial Advisor in Retirement?
Unfortunately the bad financial service stories, with bad advisors and bank greed, tarnish the reputation of the many who are doing the right thing. You would not throw out a whole basket of eggs due to one bad egg.
Working with a licensed, experienced and trusted financial advisor to seek professional advice, especially in times of ongoing market volatility and prolonged low interest rates, will help retirees to navigate a better path.
It would be unwise for retirees to assume a set and forget approach to their savings and investments.
If you are living in retirement and:
- Have never put a retirement plan in place
- Have not reviewed your retirement plan for quite some time
- Are concerned about your investment portfolio
- Are unhappy with your current Advisor
- Had a major life event occur
We at Baggetta & Co are here to help.