What is a retirement plan and the benefit of having one?
Retirement planning refers to strategies of saving, investing and ultimately distributing monies and assets to sustain yourself during retirement.
A “retirement” plan can also be a simple plan to achieve financial independence (ability to sustain your lifestyle on the dividends, interest, and passive income from one’s investment assets) well before any predefined age/date.
At Sage Investment Advisers, LLC, we aim to build a customized “plan” for every family that we work with. These plans are usually not done in one day but take some time to create. It can sometimes take several years to ultimately determine your path. A true “plan” doesn’t just look at the numbers, it takes into consideration a lot of real “life” questions also.
We aim to answer 3 questions for every family/person we build a plan with:
- What does your retirement look like when it’s complete?
- How do we manage the risk and minimize setbacks?
- What is our percent probability of success that your money will last your entire life (we run a probability of success analysis)?