#10D Retirement Tools- 10 Things You Need To Know To Plan Your Retirement Income

The whole point of planning your retirement is to plan for a long life. Throughout this 10 part series, we have touched on health care expenses, housing plans, long-term care, taxes, and distribution tools. These are all things that contribute to retirement planning. If there is something to take away from this series it would be:

Know what the end goal is. What are you trying to accomplish? What are some objectives? Goals for your retirement savings? What type of income do you want and when should it start?  Is a vacation/income/growth on the agenda? As a result, knowing the answers to these questions will help to give a retirement plan a push in the right direction. Establishing the goals and objectives is something decided by you and your family.

Explore the different tools. Annuities, life insurance or long-term care insurance? Purchasing different products and utilizing a variety of financial vehicles can create a plan that meets certain needs and goals for retirement.  Also keep in mind that although these tools are helpful, they do not dictate the client. Therefore the client needs to be in control of the product or tool needed to accomplish their goals. Additionally, the new products and strategies designed to help prepare for retirement can be complex, and working with financial professionals you can trust can help to ensure a strategy designed to help reach your goals.

Realize that the bulk of responsibility is on yourself. As a result, future generations will continue to take more responsibility for providing income to their own living expenses in retirement. The government is reducing and eliminating benefits altogether more, making it even more important to be proactive in making a plan. Finally, find a financial adviser or reliable agent to help guide you in the right direction.

Stay tuned for upcoming shows and subscribe to our YouTube channel for more information on this topic. For more information contact our office at 417-882-1800 and catch Bruce Porter on his show Tuesdays at 3 pm on Kolr 10.

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We are not permitted to offer, and no statement contained herein shall constitute, tax or legal advice. Individuals are encouraged to consult with a qualified professional before making any decisions about their personal situation. We are able to provide you with information but not guidance or advice related to federal benefits. Our firm is not affiliated with the U.S. government or any governmental agency.  Investment advisory services offered through AE Wealth Management, LLC, an SEC Registered
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