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Retirement
Learning Center • financial tips • cash reserves • insurance • savings accounts • growth investments • taxes • retirement • estate planning  |
Retirement can be a completely different lifestyle and very satisfying. It provides an opportunity to do just the things you like to do and not the things you used to have to do, go places you like to go and not places you are required to go, be with the people you like, avoiding those you don't like, and be with those you want to help. It is a time for giving and enjoying life.
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Your first concern in retirement is that you have enough income for now and for the rest of your life. If your wealth is enough millions so that you have always had enough income, whether you were working and earning an income or not, then your current income stream is not a problem. In many respects, you have been retired all your life.
In this case, your concern is that you realize that life ends, and your life will probably end sometime in the next 10 or 20 or 30 years or so. You want to be sure your wealth is well managed now and will be properly distributed in the future. Go over your assets and investments with your financial adviser. Do you want to keep the properties you own? The businesses you own? Is your security portfolio right for the new and final phase in your life?
Also talk with your tax adviser and see if you can make changes that will reduce your taxes, or if you can arrange your long-range planning and gifting to take advantage of and benefit from our current tax laws
Peterson Money Books
Book: The Challenge of WEALTH, by Erlend Peterson, CFP
Managing the Joys, Responsibilities, and Opportunities
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