We believe a working adult is never too young to start thinking about retirement planning. It is a fact of American life that we are all living longer and the dependability of the Social Security safety net is becoming less and less assured. The safest approach is to assume that you will live a long time and will need to take as much personal responsibility as possible in funding your “non-working” years. Brunette & Associates can provide a comprehensive “game plan” for your retirement planning.

Your retirement savings will need to support you throughout your golden years. Careful consideration should be given to estimating how much you’ll need to save for retirement. While every planning situation at Brunette & Associates is unique, there are some basics involved in each plan we devise.

Organize. Identify all accounts that are dedicated to funding your retirement. Are there orphaned accounts from previous employers? Are there pension programs you have forgotten about? Consider streamlining these accounts and consolidating all under unified management.

Define expectations. Start thinking about what it is you want to do in your retirement and how you might best fund that lifestyle. What will be your financial obligations at that time? Will you have the lifestyle you currently enjoy or will you live on less?

Focus on retirement age. At what age will you retire? Earlier retirement generally means retiring before qualifying for full Social Security benefits. Depending on your birth year, that “full-benefit” age is 65-67 years of age. You can begin to take benefits as early as age 62; however, there will be fewer working years to build your savings. Consequently, there may be more retirement years to spend, increasing the chance that you might run out of money.

Maximize current savings. Are you fully and aggressively funding your current retirement savings plans? We can help you to determine additional ways to save. For instance, experts agree you should always pay yourself first – treating your savings like just another bill you have to pay. Also, consider increasing your savings percentages as your salary or income increases.

Actively Manage Your Investments. The sooner you begin to accumulate wealth, the better the potential for longer-term substantial growth in retirement assets. Brunette & Associates can advise you for your specific situation taking into account your tolerance for risk and volatility.

Mitigate Surprises. Similar to your working years, financial surprises can disrupt the best-formulated retirement plans. A well-formulated plan can lessen your exposure to financial setbacks that disrupt retirement cash flow.

No plan is perfect and hurdles will appear; however, astute retirement planning with Brunette & Associates helps to plan your cash flow and investment income to get the most reward for your retirement years.