Retirees have a number of concerns and questions related to their financial situation in retirement. Some of the key issues that retirees want to understand include:
Retirement Income
Retirees want to understand how much income they can expect to receive from their retirement savings, including their superannuation, investments, and any other sources of income such as a pension or social security benefits.
Investment Performance
Retirees want to know how their investments are performing, and whether they are on track to meet their retirement income goals. They also want to understand the risks and returns associated with different investment options.
Inflation
Retirees need to understand how inflation can affect their retirement income, and how to manage inflation risk through appropriate investment strategies.
Taxation
Retirees want to understand how taxation affects their retirement income, and how to minimize their tax liability while still generating sufficient income.
Estate Planning
Retirees want to ensure that their assets are distributed according to their wishes after they pass away. They also want to understand the tax implications of their estate plan and how to minimize the impact of taxes on their heirs.
Health Care Costs
Retirees are concerned about the rising costs of health care and how to manage these costs in retirement. They also want to understand how health care costs can impact their overall retirement income and financial security.
Longevity
Retirees want to understand how long their retirement savings will last, and how to manage the risk of outliving their savings.
Our Retirement Planning Services
At Wihse Financial Planning, we understand that retirement planning can be overwhelming. Our team of experienced financial advisors can provide comprehensive retirement planning services to help retirees achieve their financial goals and ensure their long-term financial security. We provide personalized retirement planning services that take into account each retiree’s unique financial situation, retirement goals, and risk tolerance. Our services include retirement income planning, investment management, tax planning, estate planning, and risk management.
Contact Us Today
If you are looking for professional retirement planning services, contact us today to schedule a consultation with one of our experienced financial advisors. We can help you achieve your retirement goals and maintain your financial security throughout your retirement years.
Frequently Asked Questions
Common mistakes people make when planning for retirement include failing to start early, not saving enough, underestimating expenses, not considering healthcare costs, and relying too much on Social Security. It’s important to have a solid retirement plan in place and regularly review and adjust it as needed.
Common mistakes people make when planning for retirement include failing to start early, not saving enough, underestimating expenses, not considering healthcare costs, and relying too much on Social Security. It’s important to have a solid retirement plan in place and regularly review and adjust it as needed.
This depends on your lifestyle, expenses, and other factors. As a general rule of thumb, many experts suggest that you need around 70-80% of your pre-retirement income to maintain a comfortable standard of living in retirement. It’s important to consider factors such as your superannuation balance, any other sources of income, and any debt or ongoing expenses you may have.
This depends on your lifestyle, expenses, and other factors. As a general rule of thumb, many experts suggest that you need around 70-80% of your pre-retirement income to maintain a comfortable standard of living in retirement. It’s important to consider factors such as your superannuation balance, any other sources of income, and any debt or ongoing expenses you may have.
It’s never too early to start planning for retirement. The earlier you start, the more time you have to save and invest, and the less you’ll need to save each year to reach your retirement goals. Ideally, you should start thinking about retirement planning in your 20s or 30s, but if you haven’t started yet, don’t worry – it’s never too late to take action.
It’s never too early to start planning for retirement. The earlier you start, the more time you have to save and invest, and the less you’ll need to save each year to reach your retirement goals. Ideally, you should start thinking about retirement planning in your 20s or 30s, but if you haven’t started yet, don’t worry – it’s never too late to take action.
