Retirement Planning

No matter what your age or life stage is, it’s never too late to start planning for your retirement. Implementing the right tactics now will make all of your retirement hopes more of a reality.

95%* of American workers believe financial help is important for retirement.

Essential Retirement Planning Questions

Zoe Financial | Retirement Planning Goal

How Much Money Should I Have Saved By Now?

Generic retirement savings targets are helpful, but they don’t really tell you what you need. Everyone’s situation is unique and ever-changing, which requires a thorough understanding of their specific goals, individual financial habits, and even their behavioral biases.

Zoe Financial | Retirement Planning Goal

Where Do I Get Money Once I'm Retired?

There are three primary sources of income that people may have access to in retirement: personal retirement savings such as Individual Retirement Accounts (IRAs), employer-sponsored defined contribution plans (401(k), 403(b), or a 457(b)), Social Security, or a pension. 

Zoe Financial | Retirement Planning Goal

How Much Should I Be Saving Each Month For Retirement?

There are numerous suggested savings rates to spell out how much a person should be saving on a monthly basis in order to successfully retire. But retirement is not a one-size-fits-all topic. The most important thing is develop a strategy that accounts for your personal retirement needs.

The Best Advisor For You

When it comes to retirement planning, the value that a qualified financial advisor brings cannot be overstated. A financial advisor can help you determine what your living expenses will look like in retirement so that you can properly plan how much you will need to have saved. If you are behind on your retirement savings, an advisor will be able to help you create a plan to get your savings back on track.


Retirement Should Not Be Scary

If retirement scares you, you can combat your fears with these steps.

This phase of life means something different to everyone. Dream up what it means to you (traveling the world at age 65+, quitting your job and watching TV all day, playing bridge, etc.)

To truly know how much income you need in retirement, you need to know how much you’re spending today.

Taking education or leisure classes is a great way to remain active during retirement, understanding the options you will have available when the time comes will help you worry a bit less today.

Thinking constantly about your retirement worries and future won’t allow you to enjoy the present. Even if it isn’t a fear, it can be baggage that you will carry consistently until you decide to fight it off.

If boredom is a concern, make sure you start to find your hobbies early, so by the time you retire you understand the things you like to spend time doing.

If you’re concerned about mental decline later in life, you can action that fear starting right now. Focus on mental agility, play sudoku, exercise your brain daily, and form those habits now that will last your lifetime.

If you’re worried about your social network or relationships, make sure you are in touch with old friends and family before you reach retirement.

Being active today will have a positive impact on your overall health and mind as you get older.

The best way to combat uncertainty is to make it more certain. Create or update your financial plan to lay out where income will come from in retirement, how much you need to save today, and what goals are realistic for you.

If you haven’t already, the best way to prevent retirement fears (and have more peace of mind) is to start as early as you can.

What Type Of Retirement Saver Are You?

You want to save but never do. You want to wait for when the time is right. Which is now! Hiring a financial advisor can help you set a strategy and keep you on track to avoid self-sabotage.

You might not know the most efficient ways of savings, but you are taking steps early. You might not have a solid strategy but are doing your best to learn. You know what they say: the early bird catches the worm. If knowing is half the battle, the other half is doing. So get started on developing a strategy and game plan for saving. Your consistency will pay off!

You might have started a little later but you are keeping up with a savings plan. You know what you want and have your eyes set on something bigger, like a 401k. You are doing great, the way forward will be a smooth journey.

You are at the prime of your career but haven’t prioritized saving yet. You should start getting serious about how much you should be saving for retirement. Figure out how much you can save, set up an automatic payment, and stick with it.

You are working towards your golden years and making sure you have a comfortable nest egg. You will sacrifice anything to get there. It is important to evaluate your strategy to make sure there’s a balance between your goals and your current lifestyle.

You prioritize your savings so much, you can end up falling short on money for expenses. This starts a cycle in which you then have to take money out of savings and/or use credit cards to cover your monthly expenses, which generates debt you then don’t pay off. Focus on a realistic balance between how much you are spending and how much you can save.

Take our quiz to find out what type of retirement saver you are. 

Talk to a Retirement Expert Near You

Connect with fiduciary financial advisors. 




| Advisors Nationwide |

A Wealth Planner With Expertise in Retirement Planning

Connect with fiduciary financial advisors. 




| Advisors Nationwide |

Retirement Planning Resources

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*Source: Goldman Sachs’ Retirement Survey & Insights Report 2022

Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.

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