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Retirement
How retirement works and what works best for you
“Retirement isn’t an age, it’s a financial number.” – Chris Hogan
Retirement is defined as the withdrawal from one’s position or occupation or from active working life.
Most people think of retirement as the age or time when you cannot or do not want to work any more.
“Retirement isn’t an age, it’s a financial number.” – Chris Hogan
Retirement is defined as the withdrawal from one’s position or occupation or from active working life.
Most people think of retirement as the age or time when you cannot or do not want to work any more.
“Retire from work, but not from life.” – M.K. Soni
We encourage our clients to see retirement as the amount of money they can comfortably live on.
This gives you a specific amount you can work towards now rather than counting down the years until retirement.
“Retire from work, but not from life.” – M.K. Soni
We encourage our clients to see retirement as the amount of money they can comfortably live on.
This gives you a specific amount you can work towards now rather than counting down the years until retirement.
retirement distributions
Steps in retirement distribution
- You deposit money into your retirement account(s) (401K, IRA, etc.).
- This money earns compound interest the longer it stays in the account (see compound interest section).
- At retirement, your money and compound interest is withdrawn through periodic distribution.
- Depending on the type of retirement account, you will pay taxes or any other fees before you receive the money.
Takeaways:
The goal of retirement is to have your money grow at a faster rate than what is taken out.
If done properly, your retirement account will always be funded which will allow you to no longer have to work.
If you have enough money in your retirement account(s) that you can live comfortably on, you are in a position to retire.
retirement distributions
Steps in retirement distribution
- You deposit money into your retirement account(s) (401K, IRA, etc.).
- This money earns compound interest the longer it stays in the account.
- At retirement, your money and compound interest is withdrawn through periodic distribution.
- Depending on the type of retirement account, you will pay taxes or any other fees before you receive the money.
Takeaways:
The goal of retirement is to have your money grow at a faster rate than what is taken out.
If done properly, your retirement account will always be funded which will allow you to no longer have to work.
If you have enough money in your retirement account(s) that you can live comfortably on, you are in a position to retire.
Retirement accounts
Click links below for more information
Retirement accounts
Click links below for more information
Source: cnbc.com
The power of compound interest
The key to saving for retirement is understanding the fundamental difference between simple and compound interest (3b).
Simple interest is interest that you earn only on your original investment.
Compound interest is interest that you earn on your original investment PLUS earned interest.
Compound interest grows quicker than simple interest because it is earning interest on top of interest.
The power of compound interest
The key to saving for retirement is understanding the fundamental difference between simple and compound interest (3b).
Simple interest is interest that you earn only on your original investment.
Compound interest is interest that you earn on your original investment PLUS earned interest.
Compound interest grows quicker than simple interest because it is earning interest on top of interest.
Retirement Tools
Use these to help prepare for retirement.
Retirement Tools
Use these to help prepare for retirement.
Retire in Style
We recommend putting 15% of your income towards retirement. This will allow you to regularly contribute to your retirement and still do other things with your income.
Book a session with one of our financial coaches today to make sure you can enjoy your retirement.
Retire in Style
We recommend putting 15% of your income towards retirement. This will allow you to regularly contribute to your retirement and still do other things with your income.
Book a session with one of our financial coaches today to make sure you can enjoy your retirement.
“Retirement isn’t an age, it’s a financial number.” – Chris Hogan
Retirement is defined as the withdrawal from one’s position or occupation or from active working life.
Most people think of retirement as the age or time when you cannot or do not want to work any more.
“Retirement isn’t an age, it’s a financial number.” – Chris Hogan
Retirement is defined as the withdrawal from one’s position or occupation or from active working life.
Most people think of retirement as the age or time when you cannot or do not want to work any more.
“Retire from work, but not from life.” – M.K. Soni
We encourage our clients to see retirement as the amount of money they can comfortably live on.
This gives you a specific amount you can work towards now rather than counting down the years until retirement.
“Retire from work, but not from life.” – M.K. Soni
We encourage our clients to see retirement as the amount of money they can comfortably live on.
This gives you a specific amount you can work towards now rather than counting down the years until retirement.
retirement distributions
Steps in retirement distribution
- You deposit money into your retirement account(s) (401K, IRA, etc.).
- This money earns compound interest the longer it stays in the account (see compound interest section).
- At retirement, your money and compound interest is withdrawn through periodic distribution.
- Depending on the type of retirement account, you will pay taxes or any other fees before you receive the money.
Takeaways:
The goal of retirement is to have your money grow at a faster rate than what is taken out.
If done properly, your retirement account will always be funded which will allow you to no longer have to work.
If you have enough money in your retirement account(s) that you can live comfortably on, you are in a position to retire.
retirement distributions
Steps in retirement distribution
- You deposit money into your retirement account(s) (401K, IRA, etc.).
- This money earns compound interest the longer it stays in the account.
- At retirement, your money and compound interest is withdrawn through periodic distribution.
- Depending on the type of retirement account, you will pay taxes or any other fees before you receive the money.
Takeaways:
The goal of retirement is to have your money grow at a faster rate than what is taken out.
If done properly, your retirement account will always be funded which will allow you to no longer have to work.
If you have enough money in your retirement account(s) that you can live comfortably on, you are in a position to retire.
Retirement accounts
Click links below for more information
Retirement accounts
Click links below for more information
Source: cnbc.com
The power of compound interest
The key to saving for retirement is understanding the fundamental difference between simple and compound interest (3b).
Simple interest is interest that you earn only on your original investment.
Compound interest is interest that you earn on your original investment PLUS earned interest.
Compound interest grows quicker than simple interest because it is earning interest on top of interest.
The power of compound interest
The key to saving for retirement is understanding the fundamental difference between simple and compound interest (3b).
Simple interest is interest that you earn only on your original investment.
Compound interest is interest that you earn on your original investment PLUS earned interest.
Compound interest grows quicker than simple interest because it is earning interest on top of interest.
Retirement Tools
Use these to help prepare for retirement.
Retirement Tools
Use these to help prepare for retirement.
Retire in Style
We recommend putting 15% of your income towards retirement. This will allow you to regularly contribute to your retirement and still do other things with your income.
Book a session with one of our financial coaches today to make sure you can enjoy your retirement.
Retire in Style
We recommend putting 15% of your income towards retirement. This will allow you to regularly contribute to your retirement and still do other things with your income.
Book a session with one of our financial coaches today to make sure you can enjoy your retirement.
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