Retirement Planning | Roswell GA | Park Square Financial

A Quick Guide to Retirement Planning

Planning for your retirement is one of the best things you can do for your financial future. Many people worry about putting their kids through college instead, but you can’t get a loan to fund your retirement. It doesn’t have to be a complicated process. When you work with our financial professionals, planning for your future is easy and doesn’t take much time.

If your employer offers a retirement plan with matched contributions, that’s a great place to start. Social Security benefits are another income stream you can receive as early as age 62. You might also benefit from setting up an IRA. Our financial advisors can help you maximize your retirement contributions to ensure you’ll have the lifestyle you want.

Why Is Retirement Planning Not Optional?

While you will probably receive Social Security benefits, they may not cover your living expenses during retirement. Unless you already have another pension or income source, it’s important to build wealth for your financial future. Setting up a retirement plan is the first step. Our financial advisors will take about your goals and objectives and help you create a retirement plan that works for you and meets you where you’re at right now.

What Does a Retirement Plan Look Like?

Your retirement plan will be unique to you and your financial situation. Some people have a retirement account through their employer with matched contributions. Others may rely on individual retirement accounts and personal investment accounts to maximize their retirement benefits. Social Security income also plays a role in planning your retirement. We’ll discuss traditional and Roth retirement accounts with you to determine the best options for you.

The contents of your retirement portfolio also depend on your unique preferences. We think about your goals, objectives, timelines, and risk tolerance before we suggest an investment product or service to you. You also have to decide how much you can contribute to your retirement accounts. We can even help you create a comprehensive financial plan.

FAQs about Retirement Planning

When Should I Start Planning for Retirement?

We’d love to see everyone contribute to retirement with their first paycheck, but that’s usually not what happens. You can start planning for retirement as soon as you can. Even if you’re not sure how to make it work, our financial advisors can help you analyze your finances and make recommendations.

Who Should Have a Retirement Plan?

Every adult should have a retirement plan, even the one who isn’t working. The IRS allows working spouses to contribute to a retirement account for a non-working spouse, and we highly recommend that approach. You don’t need to start a retirement account for your child, but you should definitely get yourself one.

Am I Too Old to Start Planning for Retirement?

No. You already know it would have been better to start sooner, but that doesn’t mean it’s too late now. Even in retirement, you may still need help with streamlining your income to cover your monthly expenses. And if you still have a few years before you retire, contact our financial advisors today to see how we can prepare you for retirement.

What Are the Best Retirement Funds?

There is no perfect retirement fund for everyone. It all depends on your goals and your timelines for when you need to withdraw money. For advice tailored to your situation, please call us and we’ll set up an appointment to find the best retirement funds for you.

How Old Do I Have to Be to Retire?

You can receive Social Security benefits as young as age 62, or you can wait until you’re 70. Your other retirement accounts may also have minimum and maximum distribution ages. Of course, if you have other assets, you can retire as soon as you can financially afford to stop working.

It’s Time to Plan for Your Retirement

Planning for retirement is one of the most important things you can do in your life. Therefore, we recommend working with one of our retirement planners. We can help you sort through the options and get you on track for your financial goals. Call us today to schedule a consultation. Call us today to schedule your appointment and start planning for your financial future.