Retirement
The concept of retirement in America continues to evolve. For many of our parents, retirement planning was fairly simple. A company pension and Social Security continued their income in retirement, which usually started at age 65. With a shorter life span, money wasn’t needed for very long and the company or government handled all of the investing.
In the 1980s and 1990s, the growing affluence in our country allowed many to retire early. Although this sounded appealing, many found out that they weren’t adequately prepared, both financially and personally, to meet the needs of a long retirement. A successful retirement needed a fresh look, one that was individualized and would meet the financial needs of a longer life span, but also addressed the desire to maintain involvement and a sense of contribution to society.
Layered over this change in the length and purpose of retirement has been the shift away from traditional retirement plans. Social Security is under-funded and most agree that benefits will need to be reduced in some form in the future. Company sponsored pension plans have been replaced by 401(k) plans, shifting the burden of saving for retirement from the company to the individual.
The message in these changes is loud and clear: individuals need to take personal responsibility for planning and meeting their retirement goals. Learn more about the differences between the “old” versus “new “ retirement (PDF).
At Modus Advisors, we can help you create and implement a successful retirement plan. Utilizing sophisticated software, we can project your retirement under a number of different scenarios.
We use alternate retirement dates and scenarios to come up with the plan that fits your situation. We will develop a stable and consistent income, utilizing our Retirement Paycheck Plan™ system, which is designed to help eliminate the uncomfortable changes that can accompany retirement. This frees you up to do the things you’ve always dreamed of, knowing that your plan is being monitored by the team at Modus Advisors. Learn more about the Retirement Paycheck Plan™.
*Remember that no strategy can ensure success or guarantee against loss.